The ultimate tests of being rich and smart

John Waters
I was listening to an episode of the excellent Radio 4 series A Good Read recently, featuring Kathy Burke and Tom Allen.

Allen chose a book by the film director John Waters – Role Models – and during the ensuing discussion mentioned the following quote, which for me hits the nail on the head.

“Being rich is not about how much money you have or how many homes you own; it’s the freedom to buy any book you want without looking at the price and wondering if you can afford it.”

I’ve found myself buying and reading books more voraciously this year than ever before – partly because I want to keep learning and I’d prefer to get a book over a new item of clothing or some other less useful thing.

This quote from Charlie Munger – Warren Buffett’s right-hand man – is also a mantra I take to heart.

“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you.”

So do yourself a favour and go and buy a book and start reading today.

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