Warren Buffett’s investment advice can be said to be gold investment judgment and solid wealth-building strategies. He is the veteran expert, who was able to build huge wealth without a specific patent, or the progress of a technician, or a legacy that helped him in that, or a legacy on which he relied, or a job with a large salary, but he built his empire with investment tools available to everyone, with wisdom, wisdom, and investment Smart, hard-working.
The advice of Warren Buffett, the greatest investor of the era, that you will know sooner you may not have heard about it before, unlike the famous about him, like his famous saying in spending, “Don’t buy what you don’t need, there will come a day when you will have to sell what you need.” Or what he said in saving: “Do not save what remains after spending, but spend what remains after saving.” Or his wonderful wisdom of taking the risk “Don’t test the depth of the river with both feet.”
In this article, we will look at more precise aspects of the personality of the successful investor.
These are the most important tips
1- Warren Buffett says: “For a long time, Graham (the owner of the Smart Investor Book) taught me that price is what you pay, but the value is what you get, whether we are talking about socks or stocks, so buy quality goods when their prices drop.
2- Successful investment requires time, discipline and patience. No matter how great talent or effort is, there are some things that take time, that you cannot produce a baby in a month by getting nine pregnant women.
3- Opportunities come rare, so when the world rains gold, put a bucket, not the thimble. (Thimble is the funnel that covers the tip of a tailor’s finger to protect it from pricking needles.) The intention is to take advantage of opportunities whenever the best possible use comes.
4- Diversification of investments is originally protection against the ignorance of these investments, so it makes sense that this diversity is little for those who know what they are doing.
5- The key to investing is not to assess the extent of the influence of this industry or product on society, or to what extent it will grow, but rather to determine the competitive advantage of any particular company and, above all, determine the durability of this competitive advantage.
6- Of Warren Buffett’s advice also: “It can take 20 years to build a reputation, and demolishing it will only take 5 minutes. If you keep this in mind, then you will definitely do things differently. Gaining the trust of people is an invaluable asset. ”
7- It is better to spend time with people who are better than you, since selecting partners who have better behaviors, their good behaviors will be reflected on you.