David Rubenstein admires Warren Buffett and lists the characteristics of elite investors

  • Warren Buffett’s intelligence, focus and passion for investing are admirable, said David Rubenstein.
  • The Carlyle Group co-founder has interviewed many of the world’s elite investors for his upcoming book.
  • The billionaire investor found them surprisingly humble, contrarian thinkers and workaholics.

David Rubenstein admires Warren Buffett’s intelligence, focus and love for investing for his own good rather than the luxurious lifestyle he can finance, fox business reported this week.

“He’s got pretty good instincts and good intuition,” the billionaire investor and co-founder of The Carlyle Group said Saturday at the National Book Festival, according to Fox.

Rubenstein has spent the past year researching and interviewing top investors such as Ray Dalio, Seth Klarman and Stanley Druckenmiller for his upcoming book, “How to Invest: Masters on the Craft.”

His comments talk about Buffett’s business savvy, how the Berkshire Hathaway CEO makes concentrated bets and rarely strays from his “circle of competence” and Buffett’s joke that he “bangs dance to work.” because he loves his job so much.

Meanwhile, Buffett’s instinct and intuition have helped him avoid disasters like the dot-com crash, pounce on investments when the price is right, and strike quick and easy deals with people he deems trustworthy.

Rubenstein raised the question of whether Buffett’s talents are best utilized as an investor in a recent New York Times interview.

“Would the world be better off if Warren Buffett was a teacher? He asked. “I don’t know,” he continued, adding that investors may be hugely overpaid compared to teachers.

The private equity mogul detailed the common traits of some of the world’s top investors.

“People would be surprised that these individuals were relatively humble,” Rubenstein told the newspaper. “They have a certain humility because they realize markets can make you and break you.”

Rubenstein also noted that elite investors have been lucky in some ways, but suggested that thriving over decades requires more than luck. Moreover, he argued that they weren’t born with their investing prowess, they developed it over time.

Carlyle’s co-chairman noted in a CNBC Interview that great investors typically come from middle-class families, do well in school, have a natural affinity for math, and love to read. They also like being in control, making final decisions and going against conventional wisdom, he said.

“They are workaholics,” Rubenstein said. “These people love what they do, and if they weren’t making the huge amounts of money they do, they would be doing it anyway.”

The best investors are adept at recognizing when they’ve made a mistake and withdrawing their money, moving through failures and grabbing bargains when markets crash and peers panic, Rubenstein told CNN.

It’s easy to see how Buffett fits the profile defined by Rubenstein. The Berkshire leader stressed how lucky he was to be born in a country that rewarded his skills and to live so long. At 92, he’s had more time to accumulate his wealth than most people.

Additionally, Buffett’s father was a banker and government official, the investor is a numbers whiz and reads 500 pages a day, and he controls Berkshire and decides how its capital is allocated.

Buffett also admitted mistakes, such as selling Apple and Costco stock in the fall of 2020. He invested in BYD, Chevron and Apple after being burned by PetroChina, ConocoPhillips and IBM. Additionally, one of his best-known pieces of advice is to go against the grain and “be greedy when others are scared.”

Read more: Richer, Wiser, Happier author William Green has interviewed dozens of the world’s top investors. It breaks down the 6 key traits they share and gives examples of them in action.