Buffett: 10,000 Hours Not Key to Success

Warren Buffett, with an estimated net worth of $160 billion, is undoubtedly an extraordinary individual. However, he believes that anyone can excel in investing, but simply putting in 10,000 hours of practice is not a guarantee of success.

During the 2025 Berkshire Hathaway annual shareholders' meeting, Buffett stated, "I don't believe in that book that says if you put 10,000 hours into something, you'll be successful. If I spent 10,000 hours on tap dancing, you'd all want to throw up watching me."

He was likely referring to Malcolm Gladwell's 2008 book "Outliers," which popularized the idea that mastering a skill or subject requires 10,000 hours of practice. Gladwell later clarified that the "10,000-hour rule" had been oversimplified, emphasizing that talent and the right environment are also crucial factors.

Buffett stressed the importance of identifying one's existing skills and passions, then finding mentors who can help elevate those abilities. Ideally, this involves spending time with mentors, but reading works by experts in the field can also be valuable.

Buffett mentioned one of his influential mentors, Benjamin Graham, saying, "If I spent 10 hours reading Benjamin Graham's works, I'd become very smart. Find your own path, and you'll encounter people willing to share their knowledge with you."

Pursuing a career or industry that one is not particularly interested in, but which offers high compensation, might seem economically prudent. However, focusing on what one is passionate about and skilled in could increase the likelihood of success.

Buffett noted, "If my ambition was to become a ventriloquist or something else, I definitely wouldn't succeed. I just spent a lot of time on investing." Fortunately for him, his interests aligned with a lucrative career path. His teachers and mentors were impressed by his curiosity and willing to work with him.

He recalled his time at Columbia University, saying his professors treated him "like their own son." He advised, "Focus on what truly fascinates you. Don't try to be someone else."

Career experts generally agree that one's interests and natural abilities are more important than potential starting salaries when making career decisions. For instance, when choosing a college major, it is advisable to select a field of study that genuinely interests you, rather than one that you believe will lead to high earnings.

This approach can enhance your academic success and potentially yield better long-term returns.