Wisdom from Warren Buffet

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#1 [Permalink] Posted on 19th April 2014 09:19

While listening to a Sermon by Pir Zulfiqar Ahmed Sahab Naqshbandi Sahab (HA) on wisdom the ground beneath this sinner's feet moved to an unknown destination.

While explaining the Prophetic saying that Wisdom is the Lost Property of a Believer the Shaikh said that a believer will pick wisdom wherever it is lying. For example if your pen has fallen and then you find it lying on the floor then you simply pick it up immediately.
That is how we should react towards wisdom. This much is fine. What alarmed this sinner was the assertion by the Shaikh that we should get wisdom even if it is lying with non-Muslims. Or words to that effect.

This raises the question how to decide whether a saying from a non-Muslim is wise or unwise? That is you got to be wise to detect wisdom.

This sinner has no pretensions to wisdom, whatsoever.
But Islam is something that we all Muslims assert.

In this thread this sinner will list quotes from Warren Buffet and then make remarks on them from a Muslim point of view.

In the current world Muslims are socially and culturally backward, economically and financially mostly weak, without much significant business, politically marginalized and militarily cornered. In view of this ground situation it is a fitting tribute to Muslim past that we focus on business, economy and finance - a field of life in which we should be the natural leaders for our Prophet (PBUH) was from that class.

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Muslim Ummah aspires to attain a rightful and honored place among the civilizations of the world and make our proportionate contribution towards international peace, progress and happiness of humanity.

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#2 [Permalink] Posted on 20th April 2014 05:36

Quote 1

Someone is sitting in the shade today because someone planted a tree a long time ago.
Warren Buffett

I shall be using the Brainy Quote site as the source.

In case of the present quote we do not need any injection of Islamic perspective. To the best of my knowledge it does not infringe upon our overall disposition towards here and hereafter.

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#3 [Permalink] Posted on 3rd May 2014 09:50

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

Warren Buffett

This a practical advice. Wisdom is usually the obvious thing. This sinner finds above observation in accordance with Islam. Caution is part of Taqwa and above quotation is about caution in its most primitive form.

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#4 [Permalink] Posted on 3rd May 2014 09:54

Risk comes from not knowing what you're doing.

Warren Buffett

Here he is saying that risk of an entrepreneur is not a risk at all - it is business. Calculated risk is not the real risk. Real risk comes from lack of understanding, knowledge and clarity.

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#5 [Permalink] Posted on 3rd May 2014 10:00

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

Warren Buffett

This one is dubious. Warren Buffett is one of those people whom Allah (SWT) has given a lot in this world. Today there are many super rich people even then personal wealth is not a voluntary thing. Qaroon committed precisely the same mistake - he thought he earned his money because of his intellect. Warren Buffet is here implying that wealth is a result of your smartness. This is a negation of the fact that Allah (SWT) is the ultimate provider.

Do try all the allowed tricks in your inventory to make money but always remember that ultimate decision lies with Allah (SWT) about whether to give you lots of money or not.

It is allowed to have lots of money.

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#6 [Permalink] Posted on 3rd May 2014 10:04

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

Warren Buffett

A Muslim should not forget that we must hang out with those who are better than us in Deen. In matters of worldly blessings we are supposed to compare ourselves with those who are less endowed than us.

Ultimately above Warren Buffett quote amounts to adopt the company of those who are better in character than us and this is an Islamic injunction too.

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#7 [Permalink] Posted on 4th May 2014 18:41

Maripat wrote:

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As a Muslim the first rule should be Modified

Rule 1: Never waste your money.

Waste in the islamic context of Israf and Tabzeer.

Wassalam

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#8 [Permalink] Posted on 10th May 2014 07:00

Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.

Warren Buffett

This is not a statement of wisdom but an observation about ground reality. People with big money will visit Wall Street in expansive cars. The people they are consulting are the young smart graduates who are beginning their career and hence traveling by the subway.

Yours truly have not spent enough time reading about modern business practices in Islamic context. Hence it is difficult to comment on stock markets. It will be nice to have a perspective on that. After all our Prophet (PBUH) was into business or trade and we were in it long back.

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#9 [Permalink] Posted on 10th May 2014 07:11

Maripat wrote:

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Common practice in share market is to invest in stocks of a companyy, when the price goes up after few minutes/hours many sell them of immediately to make profit which is against business practice in Islamic Context.

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hmdsalahuddin

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#10 [Permalink] Posted on 22nd October 2016 04:56

Lessons from Life

Following list is not from Warren Buffet.
It is strange how experience can lead to great amount of truth.
Yet you can not depend on it completely.
Faith can be achieved only through the revealed teachings.
So benefit from people's experience but take faith only from Rasoolallah SAW.

Advice from an 80 year old man............
1. Have a firm handshake.
2. Look people in the eye.
3. Sing in the shower.
4. Own a great stereo system.
5. If in a fight, hit first and hit hard.
6. Keep secrets.
7. Never give up on anybody. Miracles happen everyday.
8. Always accept an outstretched hand.
9. Be brave. Even if you're not, pretend to be. No one can tell the difference.
10. Whistle.
11. Avoid sarcastic remarks.
12. Choose your life's mate carefully. From this one decision will come 90 per cent of all your happiness or misery.
13. Make it a habit to do nice things for people who will never find out.
14. Lend only those books you never care to see again.
15. Never deprive someone of hope; it might be all that they have.
16. When playing games with children, let them win.
17. Give people a second chance, but not a third.
18. Be romantic.
19. Become the most positive and enthusiastic person you know.
20. Loosen up. Relax. Except for rare life-and-death matters, nothing is as important as it first seems.
21. Don't allow the phone to interrupt important moments. It's there for our convenience, not the caller's.
22. Be a good loser.
23. Be a good winner.
24. Think twice before burdening a friend with a secret.
25. When someone hugs you, let them be the first to let go.
26. Be modest. A lot was accomplished before you were born.
27. Keep it simple.
28. Beware of the person who has nothing to lose.
29. Don't burn bridges. You'll be surprised how many times you have to cross the same river.
30. Live your life so that your epitaph could read, No Regrets
31. Be bold and courageous. When you look back on life, you'll regret the things you didn't do more than the ones you did.
32. Never waste an opportunity to tell someone you love them.
33. Remember no one makes it alone. Have a grateful heart and be quick to acknowledge those who helped you.
34. Take charge of your attitude. Don't let someone else choose it for you.
35. Visit friends and relatives when they are in hospital; you need only stay a few minutes.
36. Begin each day with some of your favourite music.
37. Once in a while, take the scenic route.
38. Send a lot of Valentine cards. Sign them, 'Someone who thinks you're terrific.'
39. Answer the phone with enthusiasm and energy in your voice.
40. Keep a note pad and pencil on your bed-side table. Million-dollar ideas sometimes strike at 3 a.m.
41. Show respect for everyone who works for a living, regardless of how trivial their job.
42. Send your loved ones flowers. Think of a reason later.
43. Make someone's day by paying the toll for the person in the car behind you.
44. Become someone's hero.
45. Marry only for love.
46. Count your blessings.
47. Compliment the meal when you're a guest in someone's home.
48. Wave at the children on a school bus.
49. Remember that 80 per cent of the success in any job is based on your ability to deal with people.
50. Don't expect life to be fair

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Wisdom from Warren Buffet

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