By Daily Crux Editor Brandon Herrin:

The simple explanation for Jim Rogers' huge success as an investor traces back to one day on an airplane when he was a young man on Wall Street. An older gentleman sitting next to him told Rogers to "read everything."

He said if you simply read the annual report of a company, you're ahead of 98% of the people on Wall Street. If you read the footnotes, you're ahead of 100% of them. He's held the advice dear to this day, though he tends to read a few things in addition to annual reports.

Warren Buffett echoes Rogers' emphasis on reading. Charlie Munger - Buffett's long-time partner at Berkshire Hathaway - once told a crowd, "Warren was so successful because he sits on his ass and reads."

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