Fortune magazine released its annual "Fortune 400" issue yesterday, listing the 400 wealthiest people in America. It's always interesting to see where the super-fucking-rich chips fall each year, and this year is no exception. People of note: Mark Zuckerberg ranks thirty-fifth, Michael Bloomberg holds steady at number ten, and Bill Gates secures his number one spot again, a position which I hilariously imagine to be patrolled by uniformed guards.
But what's more cooler than a list of the top investment bankers in the country (so cool!) is the pairing of Warren Buffett and Jay-Z on the cover. Counter-intuitive, and yet, not. Nowhere else will you see Jay-Z dote on an eighty-year-old compound investor, and nowhere else will you see Warren Buffett defer to Jay-Z, "I can't do what you do." The interview includes all the awkward flattery you'd expect of an organized meeting between Warren Buffett and Jay-Z (and of course, tried and true business aphorisms like finding good, honest business partners — a must-read!)
Warren Buffet suggests you have solidly average intelligence and a boring disposition:
You don't need a lot of brains in this business. I've always said if you've got an IQ of 160, give away 30 points to somebody else, because you don't need it in investments. What you need is emotional stability. You have to be able to think independently, and when you come to a conclusion you have to really not care what other people say. Just follow the facts and your reasoning. That's tough for a lot of people. But that part, I was just lucky with. I was born that way.
Watch Jay-Z and Buffett exchange compliments and trade secrets (eh, not really) below.