Warren Buffett: Getting Rejected By Harvard Was The Most Pivotal Moment Of My Life

DRAKE BAER DEC. 11, 2014, 3:52 PM
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Warren Buffett could never stand school.He was a pain to teachers in grade school, and just as bad in high school.

As a teen, he was already a hustling
businessman, raking in $53,000 by age 16 . So while he didn't see the need to go to college and study business, he dutifully attended the
University of Pennsylvania when his parents told him to.

But in the spring of 1950, when he was just a few credits away from graduating, he found something to love about formal education.

Its name was Harvard Business School ,minter of tycoons, US presidents, and oligarchs.
By this time, Buffett already knew what he wanted to do with his life:become ridiculously wealthy,ridiculously quick. He wanted to be a millionaire by age 35, with all the security and freedom that comes with that kind of dough.

Alice Schroeder writes in her biography, " Snowball," that HBS offered Buffett things he couldn't get by teaching himself: connections and prestige.

So he took the train from Omaha to Chicago, where he'd have his Harvard interview. It felt like a sure thing — Buffett had already
told a friend, "Join me at Harvard."
But the certainty was, in Schroeder's account, misplaced. She writes: Warren was relying on his knowledge of stocks to make a good impression in the interview. So far his epicureans had been that whenever he started talking about stocks, people could not
help but listen. His relatives, his teachers, his fellow students — all wanted to hear him discourse on this subject. But he had misunderstood Harvard's mission,
which was to turn out leaders.

Buffett, a 19-year-old whiz kid obsessed with a single subject, was not ready to be one. "I looked about 16 and and emotionally was
about nine," Buffett recalled. "I spent 10 minutes with the Harvard alumnus who was doing the interview, and he assessed my
capabilities and turned me down."
Yet this might have been the most helpful spurning in business-school history. Schroeder says that Buffett would "later come to consider his rejection by Harvard as the pivotal episode of his life."
Barred from Cambridge, he was forced to look elsewhere.Leafing through the catalog for Columbia
University, his eyes fell upon a life-changing name: Benjamin Graham.
"I had just read Graham's book," Buffett recalled. That book was the " The Intelligent Investor ," a guide to stocks analysis. Buffett would later say that finding that book at age 19 was one of the luckiest moments of his life, since it gave him the framework for his
investing.All of a sudden, Buffett could go meet the teacher whose insights had already changed his life. If he went to Columbia, he could surely convince Graham to become his mentor.

"It was like [Warren] had found a god," said his housemate at the time. So he applied to Columbia.
Thankfully for Buffett, it was a written application, allowing him to tailor the way he presented himself.
Even better, Columbia wasn't trying to create mature leaders of society; Graham and his colleagues taught the craft of investing. And
Buffett was a young craftsman of exceptional ability.
He got in.

Now he's worth an estimated $74 billion ,making him the second-richest man in America.

The Law of Faith

Galatians 2:16-20

16 Yet we know that a man is justified or reckoned righteous and in right standing with God not by works of the Law, but [only] through faith and [absolute] reliance on and adherence to and trust in Jesus Christ (the Messiah, the Anointed One). [Therefore] even we [ourselves] have believed on Christ Jesus, in order to be justified by faith in Christ and not by works of the Law [for we cannot be justified by any observance of the ritual of the Law given by Moses], because by keeping legal rituals and by works no human being can ever be justified (declared righteous and put in right standing with God). (B)

17 But if, in our desire and endeavor to be justified in Christ [to be declared righteous and put in right standing with God wholly and solely through Christ], we have shown ourselves sinners also and convicted of sin, does that make Christ a minister (a party and contributor) to our sin? Banish the thought! [Of course not!]

18 For if I [or any others who have taught that the observance of the Law of Moses is not essential to being justified by God should now by word or practice teach or intimate that it is essential to] build up again what I tore down, I prove myself a transgressor.

19 For I through the Law [under the operation of the curse of the Law] have [in Christ's death for me] myself died to the Law and all the Law's demands upon me, so that I may [henceforth] live to and for God.

20 I have been crucified with Christ [in Him I have shared His crucifixion]; it is no longer I who live, but Christ (the Messiah) lives in me; and the life I now live in the body I live by faith in (by adherence to and reliance on and complete trust in) the Son of God, Who loved me and gave Himself up for me.(AMP)

Galatians 3:6-14

6 Thus Abraham believed in and adhered to and trusted in and relied on God, and it was reckoned and placed to his account and credited as righteousness (as conformity to the divine will in purpose, thought, and action). (A)

7 Know and understand that it is [really] the people [who live] by faith who are [the true] sons of Abraham.

8 And the Scripture, foreseeing that God would justify (declare righteous, put in right standing with Himself) the Gentiles in consequence of faith, proclaimed the Gospel [foretelling the glad tidings of a Savior long beforehand] to Abraham in the promise, saying, In you shall all the nations [of the earth] be blessed. (B)

9 So then, those who are people of faith are blessed and made happy and favored by God [as partners in fellowship] with the believing and trusting Abraham.

10 And all who depend on the Law [who are seeking to be justified by obedience to the Law of rituals] are under a curse and doomed to disappointment and destruction, for it is written in the Scriptures, Cursed (accursed, devoted to destruction, doomed to eternal punishment) be everyone who does not continue to abide (live and remain) by all the precepts and commands written in the Book of the Law and to practice them. (C)

11 Now it is evident that no person is justified (declared righteous and brought into right standing with God) through the Law, for the Scripture says, The man in right standing with God [the just, the righteous] shall live by and out of faith and he who through and by faith is declared righteous and in right standing with God shall live. (D)

12 But the Law does not rest on faith [does not require faith, has nothing to do with faith], for it itself says, He who does them [the things prescribed by the Law] shall live by them [not by faith]. (E)

13 Christ purchased our freedom [redeeming us] from the curse (doom) of the Law [and its condemnation] by [Himself] becoming a curse for us, for it is written [in the Scriptures], Cursed is everyone who hangs on a tree (is crucified); (F)

14 To the end that through [their receiving] Christ Jesus, the blessing [promised] to Abraham might come upon the Gentiles, so that we through faith might [all] receive [the realization of] the promise of the [Holy] Spirit. (AMP)

A Fertile Heart (II)

In my previous post,I mentioned the four (4) kinds of heart and in this post I want us to study the expose as given by our LORD JESUS in Matthew 13 from verse 18:

18 Listen then to the [meaning of the] parable of the sower:

19 [h] While anyone is hearing the Word of the kingdom and does not grasp and comprehend it, the evil one comes and snatches away what was sown in his heart. This is what was sown along the roadside.

20 As for what was sown on thin (rocky) soil, this is he who hears the Word and at once welcomes and accepts it with joy;

21 Yet it has no real root in him, but is temporary (inconstant, lasts but a little while); and when affliction or trouble or persecution comes on account of the Word, at once he is caused to stumble [he is repelled and begins to distrust and desert Him Whom he ought to trust and obey] and he falls away.

22 As for what was sown among thorns, this is he who hears the Word, but the cares of the world and the pleasure and delight and glamour and deceitfulness of riches choke and suffocate the Word, and it yields no fruit.

23 As for what was sown on good soil, this is he who hears the Word and grasps and comprehends it; he indeed bears fruit and yields in one case a hundred times as much as was sown, in another sixty times as much, and in another thirty. (AMP)

In this passage of scripture we discover the characteristics of each kind of heart and how it receives the seed (the WORD of GOD) that is planted in it.

I intended to delve deeper but it seems our LORD JESUS has already done justice to the message.I'd like you therefore to consider and ponder what kind of "soil" you're cultivating for your heart and make the needed adjustments.

GOD bless you.

A Fertile Heart (I)

It's my utmost pleasure to welcome you to today's post.I find joy in sharing GOD'S word with you.

As believers (regardless of your geographical location) we face diverse trials and challenges to our faith; our approach to these challenges however depends on what kind of "soil" we prepare for GOD'S word in our hearts.

Is your heart a fertile soil for GOD'S word?

The condition of your heart determines how fruitful you're gonna be.If you find yourself struggling with your faith then it's time to time to take a look at what environment you're cultivating for GOD'S WORD.Let's take a look at the Parable of the Sower in Matthew 13.

1 THAT SAME day Jesus went out of the house and was sitting beside the sea.

2 But such great crowds gathered about Him that He got into a boat and remained sitting there, while all the throng stood on the shore.

3 And He told them many things in parables (stories by way of illustration and comparison), saying, A sower went out to sow.

4 And as he sowed, some seeds fell by the roadside, and the birds came and ate them up.

5 Other seeds fell on rocky ground, where they had not much soil; and at once they sprang up, because they had no depth of soil.

6 But when the sun rose, they were scorched, and because they had no root, they dried up and withered away.

7 Other seeds fell among thorns, and the thorns grew up and choked them out.

8 Other seeds fell on good soil, and yielded grain--some a hundred times as much as was sown, some sixty times as much, and some thirty. (AMP)

From this passage of scripture we discover four (4) different kinds of "soil" (heart) for GOD'S WORD.

• The stony soil
• The shallow soil
• The soil with thorns
• The fertile soil

In my next post,I'll give further insights into this.

GOD bless you.

Happy Thanksgiving 2014

For the blessings and numerous and uncountable gifts from the LORD our GOD,we give him praise and we say HAPPY THANKSGIVING EVERYBODY.http://vimeo.com/112971529

Believers' POV

Believers’ POV – Another View on Facebook Get the full story on LoveWorld News at http://loveworldnews.com/posts/542d91306c6f7659b8050000

20 Rising Entrepreneurs in Africa (Part II)

Christian Ngan, Cameroonian

Founder, Madlyn Cazalis

After working in financial services in France, first as an analyst at French investment bank Quilvest Group and as an associate at Findercord in Paris,Christian Ngan returned home to Cameroon to start his own business in 2012. With $3,000 of his savings, he founded Madlyn Cazalis, an African hand-made bio cosmetic company that produces body oils, natural lotions, creams, scrubs, masks and soaps. Madlyn
Cazalis products are sold and distributed across more than 30 chemist stores, beauty institutes and retail outlets in Cameroon and neighboring countries in Central Africa. The company does not reveal revenues but says it is profitable. Ngan, 30, is also
founder of GoldskyPartners Advisory, a small financial advisory firm in Cameroon.

Senai Wolderufael , Ethiopian

Founder, Feed Green Ethiopia Exports Company

The 27 year-old Ethiopian entrepreneur is the founder of Feed Green Ethiopia Exports Company, an Addis Ababa-based outfit that produces and exports popular Ethiopian spice blends such as Shiro, Mitmita, Korarima and Berbere. Wolderufael founded
the company in 2012 primarily to serve the needs of the Ethiopian diaspora in the United States and Europe, but as demand for
Ethiopian spices increased significantly, Feed Green began exporting to new markets within Africa. The company employs only
women.

Eric Kinoti , Kenyan

Founder, Shades System East Africa

The 29 year-old Kenyan is the founder of Shades System East Africa , a $1 million (annual sales) company that manufactures
military and relief tents, branded gazebos, restaurant canopies, car parking shades, marquees, luxury tents, wedding party tents canvas seats and bouncing castles across the region. The company’s biggest clients are non-governmental and humanitarian organizations. Based in Nairobi, Shades System exports its products to Somalia, Congo and Rwanda. The company says it is
profitable and has 18 full-time employees.

Nick Kaoma, South African

Founder, Head Honcho Clothing

South Africa’s own Daymond John in the making, Nick Kaoma is building an urban legend. The 28 year-old Cape Town native is the founder and creative director of Head Honcho clothing, a prominent South African lifestyle brand that designs, manufactures and markets streetwear clothing that is hugely popular among South
Africa’s young urban dwellers. The
company’s product line includes t-shirts and caps to cardigans,varsity jackets, hoodies, tank tops and female dresses.

Ronak Shah, Kenyan

Founder, Kronex Chemicals Ltd

Shah, a 26 year old Asian-Kenyan, is the founder of Kronex Chemicals Ltd, a fast-growing manufacturer of low-cost household cleaning products. Shah founded Kronex in January 2013 and the company
has two products- a dishwashing liquid and a multi-purpose detergent, both of which are gaining market share amongst Kenya’s lower middle-class.

Issam Chleuh, Malian

Founder, Africa Impact Group

Issam Chleuh, a 27 year-old Malian
national and former Ernst & Young Senior Associate, is the founder of the Africa Impact Group , an international organization focused on directing investment to socially and environmentally beneficial ventures, an asset class called Impact Investing. The company’s
services include data & research, news, advisory services, and start-up incubation. Africa Impact Group’s clients include impact investors, private equity firms,
family offices, leading African corporations, governments and nonprofits.

Patrick Ngowi, Tanzanian

Founder, Helvetic Group

Patrick Ngowi, 29 is the founder of Helvetic Group, a company that pioneered the supply, installation and maintenance of solar systems in Tanzania ’s Northern Circuit. Helvetic Solar Contractors continues
to grow. Helvetic did more than $5 million in revenues in 2013 and KPMG East Africa recently valued the company at $15 million.Helvetic is also expanding into the South African region and Ngowi is gearing up to take the company to Dar es Salaam’s capital markets.

Heshan de Silva, Kenyan

Founder, DSGVenCap

After dropping out from school in the United States, Heshan de Silva, 25, worked briefly for a tea exporting company owned by his parents before breaking out to start
VenCap, a business that sold travel
insurance bundled into long distance bus tickets. The company became profitable very quickly, grossing over $1 million in
revenues within its first year and setting the pace for travel insurance for bus commuters in Kenya. He is now a venture capitalist and the founder of DSGVenCap, a company that makes seed investments in the
tech, media, agribusiness and consumer industries in Kenya.

Julie Alexander Fourie, South African

Founder, iFix

At 26, Julie Alexander Fourie runs a
company that employs 40 people and services more than 4,000 clients a month. Fourie is the founder of iFix, which repairs and services all Apple products and Samsung Smartphones. iFix has branches in Johannesburg, Cape Town and Durban. Fourie started the company in 2006 from his dorm room at the University of
Stellenbosch, helping colleagues and friends repaid broken and faulty iPods and computers. Satisfied friends subsequently
referred other Apple product owners in search of repairs and Fourie’s business took off.

Sangu Delle, Ghanaian

Founder, Golden Palm Investments

Delle, 27 is a co-founder of Golden Palm Investments, a holding company that invests in early stage venture and growth financing across Africa with a strong bias for Real Estate, healthcare agribusiness and technology. GPI has backed startups such as Solo Mobile in Nigeria, mPharma in Ghana and Zamsolar in Zambia. He is also the co-founder of Cleanacwa , a non-profit working
to provide access to clean water in Ghana’s underdeveloped regions. Sangu, who previously worked at Goldman Sachs, Morgan Stanley and Valiant Capital Partners, is currently an MBA candidate at
Harvard.

Uche Pedro , Nigerian

Founder, BellaNaija

The 29 year-old Nigerian media
entrepreneur is the founder of BellaNaija, a thriving new media company that develops online media content for African (primarily
Nigerian) audiences. BellaNaija.com is Nigeria’s premier lifestyle, entertainment and fashion website, and garners an average of 10 million page views every
month.

http://www.forbes.com/sites/mfonobongnsehe/2014/02/04/30-most-promising-young-entrepreneurs-in-africa-2014/

This post rounds up my piece on the on the 20 Rising Entrepreneurs in Africa.I hope you are inspired and galvanized to do more for your country and continent to solve the numerous challenges berating our continent.AFRICA is indeed rising.

You can follow me twitter:@moses_ayeji