According to Fox Business, David Rubenstein admires Warren Buffet's focus and love of investing for his own sake rather than the luxury lifestyle it can fund.
The billionaire investor said at the National Book Festival that he has good instincts.
The author of "How to Invest: Masters on the Craft" spent the last year studying and interviewing some of the best investors in the world.
His comments speak to Buffett's business skills, how he makes concentrated bets and rarely strays from his "circle of competence", and his joke that he "tap dances to work" because he loves his job so much.
His instincts and intuition have helped him to avoid disasters such as the dot-com crash, pounce on investments when the price is right, and strike fast and simple deals with people he's determined are trustworthy.
In a recent New York Times interview, Rubenstein was asked if Buffett's talents would be a good investment.
He wanted to know if the world would be better off if Warren Buffet was a teacher. He said that perhaps investors are overpaid compared to teachers.
Some of the world's best investors were detailed by the tycoon.
People would be surprised to know that these people are very modest. They understand that the markets can make you and break you.
Rubenstein said that elite investors have gotten lucky, but that they need more than luck to prosper over the years. He said they developed their investing prowess over time.
According to Carlyle's co-chairman, great investors come from middle-class families, they do well in school, and love to read. He said that they enjoy being in control and going against conventional wisdom.
"They're very focused on their work." "These people love what they're doing, and if they weren't making so much money, they wouldn't do it."
When markets crash and peers panic, top investors are able to scoop up bargains and move on from failures.
It's easy to see how he fits in. The chief underscored how lucky he was to be born in a country that rewarded his skills and lived long. He has had more time to accumulate his wealth than most people.
The investor is a whiz with numbers and reads 500 pages a day, and he controls the company because he knows how to allocate its capital.
In the fall of 2020 he sold Apple and Costco stock. He invested in BYD after being burned by PetroChina. One of his best known pieces of advice is to be greedy when others are fearful.
William Green is the author of "Richer, Wiser, Happier". The 6 key traits they share are broken down by him.
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