Warren Buffett is worth $100 Billion and is the most successful investor of all time. Here is his best advice on investing:
1) The Stock Market is designed to transfer money from the inpatient to the patient
2) If you cannot control your emotions, you cannot control your money
3) Your best investment is yourself, the more you learn, the more you’ll earn
4) I think the worst mistake you can make in stocks is to buy or sell based on current headlines
5) Never invest in a business you cannot understand
6) It’s better to hang out with people better than you, pick out associates whose behavior is better than yours and you’ll drift in that direction
7) Much success can be attributed to inactivity, most investors cannot resist the temptation to constantly buy and sell
8) If you buy things you do not need, soon you will have to sell things you need
9) Be fearful when others are greedy and be greedy when others are fearful
10) The investor of today does not profit from yesterday’s growth
11) Our goal is to find an outstanding business at a sensible price, not a mediocre business at a bargain price
12) It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price
13) If a business does well, the stock price will follow
14) Investing is laying out money now, to get more back in the future
15) The value of a business is the cash it’s going to produce in the future
16) Price is what you pay, value is what you get
17) Ignore the stock market, ignore the economy, and buy a business you understand
18) A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable problem
19) Risk comes from not knowing what you’re doing
20) Wide diversification is only required when investors do not understand what they are doing
21) Diversification may preserve wealth, but concentration builds wealth
22) The three most important words in investing are ‘margin of safety’
23) Look at market fluctuations as your friend rather than your enemy; profit from stupidity rather than participate in it
24) Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down
25) Cash combined with courage in a time of crisis is priceless
26) The true investor welcomes volatility, a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses
27) Speculation is most dangerous when it looks easiest
28) Widespread fear is your friend as an investor because it serves up bargain purchases
29) In the short run, the market is a voting machine. In the long run, it’s a weighing machine
30) When investing, pessimism is your friend, euphoria the enemy
31) The years ahead will occasionally deliver major market declines, even panics, that will affect virtually all stocks. No one can tell you when these traumas will occur
32) If you don’t find a way to make money while you sleep, you will work until you die
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