How to Become Rich: Warren Buffet's 18 Greatest Wealth Rules

On October 25, 2016 By thesuccessmanual Topic: Personal Finance, Remarkable, Quotes

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"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1."

Our favorite holding period is forever

If you don't know jewelry, know the jeweler.

Read hundreds and hundreds of annual reports every year.

Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.

The most important quality for an investor is temperament, not intellect... You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well.

Price is what you pay. Value is what you get.

The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable.

The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage

One’s objective should be to get it right, get it quick, get it out, and get it over... your problem won’t improve with age.

Occasionally, a man must rise above principles.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

When asked how he became so successful in investing, Buffett answered: "we read hundreds and hundreds of annual reports every year.

Someone's sitting in the shade today because someone planted a tree a long time ago.

The Stock Market is designed to transfer money from the Active to the Patient.

It’s too hard to make hundreds of smart decisions…we'll now settle for one good idea a year.

If you're an investor, you're looking on what the asset is going to do, if you're a speculator, you're commonly focusing on what the price of the object is going to do, and that's not our game.

- Warren Buffet, Sage of Omaha, World's greatest investor

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