24 Top Tips Of The Billionaire Warren Buffett In Investment & Wealth Creation

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With a net worth of $ 66.5 billion, according to Forbes Magazine, ranking third on the world's richest list. A man who has been struggling for years to invest and make wealth; he is 86 years old. Berkshire Hathaway, the chief executive of Berkshire Hathaway Holdings, which is involved in investment services, founded it in 1955 and now has more than 330,000 employees. Founder of the Buffett Foundation, one of the largest charities around the world. He was the greatest investor of modern times; he was able to build this huge wealth, without a certain patent, technical advance, legacy, legacy or high salary, but he established this empire with investment tools available to all, , Wisdom, invest wisely, work hard. He is the wacky old Warren Buffett.

1 - Learn how to save: "I think the biggest mistake is not knowing the savings habits properly early," says Buffett. "Saving is usually a must." He explains that if a person has the ability to live at a lower level than he is now, he can make the first million dollars very easily.

2 - It can take up to 20 years to build a reputation, and destroy it for only 5 minutes. If you put it in your mind, you will probably do things differently. And gaining people's trust is an invaluable wealth.

3 - It's best to spend time with people better than you, since picking out partners with better behaviors will reflect good behavior on you.

4 - Graham has long taught me the price you pay, and the value is what you get, whether we're talking about stockings or stock, so buy quality goods when prices fall.

5 - Successful investment requires time, discipline and patience. No matter how great the talent or effort, there are some things that take a long time. You can not produce a child in a month by getting nine pregnant women.

6 - Opportunities rarely come, so when the world rains, place a bucket, not a thistle.

(Thyme is a funnel that covers the tip of a tailor's finger to keep him from pricking needles). It is intended to take advantage of opportunities when the best possible use is made.

7 - Diversification of investments is originally a protection against ignorance about these investments, so it makes sense that this diversity is a little bit for those who know what they are doing.

8 - The key to investing is not to assess the extent to which this industry or product affects society, or to what extent it will grow, but rather to determine the competitive advantage of any given firm and, above all, to determine the robustness of this competitive advantage.

9 - It is much better to buy a "wonderful" company at an "appropriate" price and to buy an "appropriate" company at a "great" price.

10 - tell you how to be rich," says Warren Buffett. "Be afraid when others are greedy, and be greedy when others are afraid."

Buffett says that the key to investing is to buy while prices are low and sell when they go up. When prices fall, everyone is reluctant to buy; fearing further declines, then you have to buy. When prices rise, everyone stops selling; to gain more; thinking of continuing to rise, then you have to sell.

11 - The difference between successful and truly successful people, that really successful people say no to almost everything. Buffett says that success requires intense focus. Many people have long to-do lists and work to be more productive. In fact, having a list of tasks that should not do not-do list is more important if they want to The person to do great things.

12 - Learn more about people's failures than their successes: Buffett believes that in people's failure lessons and over their successes, so these lessons should be absorbed well; it is the biggest teacher.

13 - Reinvestment of profits: Warren Buffett learned this strategy early. In high school, he and his partner bought a pinball machine to put in a barber shop. And with the money they earned from them they bought many of these games, up to eight, were scattered in different shops. When they sold the project, he used his proceeds to buy stocks and start other small businesses. At the age of 26 he had collected $ 174,000, equivalent to $ 1.4 million today. It means that even if the amount is small, it can turn into a fortune.

14 - Explain everything about the deal or work before it starts: Buffett explains that your negotiating power or bargaining power is always greater before you start working, and that's when you have something to offer to the other party. Buffett learned this lesson harshly when he was a child. His grandfather, Ernst, hired him and another friend to remove the ice that covered his grandfather's grocery store after a snowstorm hit the place. Buffett and his friend kept shoveling the snow for five hours straight, Until their hands were almost frozen, and then his grandfather gave them only 90 cents to share among themselves. At that time, Buffett felt a great shock, how did he do all this painstaking work in return for earning this small wage? Since then Buffett has been tightening all deals by explaining all the details before starting with everyone, including friends and relatives.

15 - Invest in companies and institutions that pay attention to small details: Warren Buffett invests in companies run by managers who look at the smallest costs, such as a company that calculates the number of toilet rolls, for example, and makes sure it is actually 500 sheets; to see whether they have been deceived.

16 - Limit Borrowing: Living on credit cards and loans will not make you rich. Warren Buffett did not borrow much at all. He receives many heart-breaking messages from people who believed that borrowing was manageable, but they were drowning in debt. His advice to these people was: Negotiate with creditors to pay as much as you can, then when you are free of debt, make some money you can use to invest.

17 - Be persistent: With perseverance and creativity you can beat a more established competitor. Buffett took over Nebraska Furniture Mart in 1983 for his love and admiration for the way Rose Rose Blumkin ran her business. Rose Blumkin, a Russian immigrant who first built a $ 500 loan from her brother, The largest furniture store in North America, whose strategy was to sell products at significantly lower prices than competitors. Even its big competitors agreed with manufacturers to stop supply to them, contracted with manufacturers from outside the state and continued to sell their products at low prices. Of its competitors as it was, as it negotiates no Ham in the words of Buffett; where he embodies his courage unshakeable, which makes the underdog winner, hits Buffett style Ms. Rose in the administration always goes.

18 - Know well when to stop: When Buffett teenager went to the racetrack, and then bet on a race, but lost, and to compensate for losing bet on another race, and lost again, to return empty-handed, after Buffett felt very tired of what Happened; he lost nearly a week's earnings. Buffett never repeated this mistake again. It is advised that you should know very well when you move away, or give up the loss, and do not let the anxiety fool you to try again.

19 - Never lose money: Warren Buffett's No. 1 advice, which he follows as much as he can "do not lose money" and rule number two is "Do not Forget Rule No. 1".

20 - Invest in yourself: Buffett says, "Invest in yourself as much as you can when you can, you're your biggest asset so far." "Anything you invest in yourself comes back to you 10 times more," he says. Unlike other assets and investments, your own assets that you yourself are "no one can book for, for example, or steal from you."

21 - Learn about money: Part of investing in yourself should be learning more about managing money. As an investor, Warren Buffett emphasizes that much of his job is to reduce exposure and reduce risk, and that the risk always comes from those who do not know what they are doing.

22 - Bitcoin is a virtual currency encoded by an unknown person, which can be compared to other currencies such as dollars and euros, with several fundamental differences, including: a fully electronic currency that is traded online only, without a physical presence , And has no specific regulatory body. Buffett does not believe in making money, because it has no real value. "Stay away from the Betquin; it's a mirage. It's an effective way to transfer money. It also allows you to stay anonymous, but the bill also transfers funds. "Betquin has real value, which in my opinion is a joke."

23 - It is not necessary to do extraordinary things to get extraordinary results.

24 - Charles Munger, vice president of Berkshire Hathaway and a close associate of Buffett, says the secret to Warren Buffett's success is that he is constantly learning. So the best advice you can take from Warren Buffett is to commit yourself to lifelong learning.

original source : https://www.sasapost.com/warren-buffett/

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