I was surfing through the net and stuck on one post "Business Acumen & Marwaris" . Being a Marwari and a Baniya I couldn't stop reading it. I felt proud on myself when I somewhere read that Marwari and Baniya community is contributing more that 60% of income tax in India . Kudos to these " Kanjoos (Stingy )Marwari and Baniya community" .
Whatever you call them but they enjoying all seasons of economics whether it is reccession or boom , they make money and save money everytime.
There are somethings which are common between Warren buffett and Marwari/Baniya.
Both don't like to spend money on unneccessary things .
Both invest in something which have some worth and have potential to earn money.
Both properly evaluate how much return an investment can give.
Both has their unconventional sense of spotting opportunities.
But Marwari wins on a point where Warren buffett fails . You can not follow the way of Warren buffett investment but you can certainly follow the Marwari rules to make and save money , No secret any Marwari will happily tell you that "Before spending a rupee just think twice whether it worth spending or investing".
IF you don't need something don't buy at all.
If you have to buy something buy the best and cheapest. :)