"An investor needs to do very few things right as long as he or she avoids
big mistakes. " Warren Buffett
One of the world's most successful investors, Warren Buffett is the
richest man on earth. Chairman of the Berkshire Hathaway, Buffett's wealth
jumped by $10 billion to hit $62 billion during 2007. Buffett's life
is an inspiration for investors across the globe.
So what makes the world's wealthiest man so rich? Buffett believes that
successful investing is about having common sense, patience and
independent research.
'How Buffett Does It', by James Pardoe is a great guide for
investing in any market. A look into Buffett's simple, yet intelligent
mantras for investing and minting millions.
1. A frugal billionaire Buffett believes in simplicity. He advises investors to take
easy decisions. Never buy when you are doubtful. Invest only if you
understand the businesses well.
2. Focus on not losing money rather than making it. Don't own any stock for
10 minutes that you wouldn't own for 10 years.
3. A proponent of value investing, he believes that one must take decisions
on his own. He doesn't believe in listening to analysts or brokers. The
best investing decisions come from oneself.
Text : rediff Business Desk
Image: Berkshire Hathaway chairman and CEO Warren Buffett| Photograph: Alex Wong/Getty Images
Also read: Warren Buffett's mantra to mint money!
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