What if that rich man built his wealth the same way you are building yours – through investing?
What if that man were Warren Buffett?
What would you ask? Would you try to learn something that would completely change your entire world of financial success?
Perhaps you feel like that would never happen. How could I ever sit and learn from Warren Buffett?
The truth is that you can!
No, maybe not in the traditional sense of an actual face-to-face coffee brunch. But you could get some insight from what he has to offer by looking at the things he’s already said to other people.
In fact, there are 7 insights he’s already shared from which we can glean a lot of understanding about wise investing.
Let’s explore each of them together.
1. “RISK COMES FROM NOT KNOWING WHAT YOU’RE DOING.”
People talk about how risky the stock market is. “It’s just too easy to lose money,” they say. Sure, it’s got risks involved. But so does depending on one employer who could go bankrupt or let you go at any time. So how do you manage risks in the stock market? Buffett suggests to know what you’re doing.
2.“SOMEONE’S SITTING IN THE SHADE TODAY BECAUSE SOMEONE PLANTED A TREE A LONG TIME AGO.”
The best time to invest is several years ago. The second-best time is now. The sooner you get in the better. Don’t wait to buy stocks. Buy stocks and wait.
3. “IT’S FAR BETTER TO BUY A WONDERFUL COMPANY AT A FAIR PRICE THAN A FAIR COMPANY AT A WONDERFUL PRICE.”
The wisdom here is that the focus should be more on the company itself than on the price of the stock. Not to say price is irrelevant. But Buffett is emphasizing that a good price on a stock of a bad company is still a bad idea. What you want to look for is a good company and then buy it when the stock is priced well.