Accumulators always prepare and the most successful ones can be found doing their homework. As Warren Buffett said in an annual report, “Noah did not start building the Ark when it was raining.”
Accumulators often fail as a result of keeping too much to themselves, rather than building the team who will network and speak on their behalf. They rarely act on impulse and fail if they have not set the rules to take action. Often accused of procrastinating, they simply need more data to make an informed decision.
When Buffett appeared on the TV program, Money World, he was asked what investment advice he would give a money manager starting out. “I’d tell him to do exactly what I did 40-odd years ago, which is to learn about every company in the United States that has publicly traded securities.” Moderator Adam Smith said,
“But there are 27,000 public companies.” Buffett replied, “Well, start with the A’s.”
The Accumulator is the safest of the profiles, relying on a system of small steps to achieve success. The best plans often go wrong when we wander off the beaten path. The natural Accumulator becomes successful by sticking with what works and taking the steps better than others.
Accumulators prefer to be recognised for the results of their hard work and are happy being on their own until they are ready to present what they have been doing. When they are in a team, they get into flow by being the anchor for the team and to be the one that people go to for dependable, objective advice.