10 Gems of Advice from Warren Buffet
Warren Buffett’s quotes are timeless. His advice can provide help and inspiration in both your life and your finances. Here are 10 gems of advice for your investments, your career, and your life from the great Warren Buffet.
Warren Buffet is one of the wealthiest and most successful investors in the world with a net worth over $90 billion. Buffet has amassed much of his wealth during his nearly 60 years of investing at his holding company, Berkshire Hathaway. Warren has done quite well finding great companies and often holding on to high-performing stocks for many years. Buffet is genius investor – and a goldmine of advice.
Warren Buffett’s quotes are timeless. His advice can provide help and inspiration in both your life and your finances. Here are 10 gems of advice from Warren Buffet for your investments, your career, and your life.
1. Do Something That You Love
"You really should take a job that, if you were independently wealthy, that would be the job you would take – you will learn something, you will be excited about it, and you will jump out of bed. You can't miss."
"I love every day. I mean, I tap dance in here and work with nothing but people I like. There is no job in the world that is more fun than running Berkshire, and I count myself lucky to be where I am."
2. Do Something You are Good At
"You don't have to be an expert on everything, but knowing where the perimeter of that circle of what you know and what you don't know, and staying inside of it, is all-important."
3. Invest In Yourself
“Invest in as much of yourself as you can. You are your own biggest asset by far.”
“Anything you do to improve your own talents and make yourself more valuable will get paid off in terms of appropriate real purchasing power.”
“Anything you invest in yourself, you get back tenfold, nobody can tax it away; they can’t steal it from you.”
4. Always be Learning
“Risk comes from not knowing what you’re doing”
“Go to bed smarter than when you woke up.”
5. Seek Opportunity
“Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
6. Learn and Practice Good Habits
"You can get rid of it a lot easier at your age than at my age, because most behaviors are habitual."
"The chains of habit are too light to be felt until they are too heavy to be broken."
“Most behavior is habitual, and they say that the chains of habit are too light to be felt until they are too heavy to be broken.”
7. Never Loose Money
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.”
“Never invest in a business you cannot understand.”
8. Find Good Value at a Low Price
“Price is what you pay; value is what you get.”
“Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down”
9. Avoid Debt
“I’ve seen more people fail because of liquor and leverage — leverage being borrowed money,” Buffett said in a 1991 speech at the University of Notre Dame.
“You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.”
“Interest rates are very high on credit cards,” Buffett once said. “Sometimes they are 18%. Sometimes they are 20 percent. If I borrowed money at 18% or 20%, I’d be broke.”
10. Practice Patience
“The stock market is designed to transfer money from the active to the patient.”
“If you aren’t thinking about owning a stock for ten years, don’t even think about owning it for ten minutes.”