Warren Buffet

He is the wealthest person on earth (Forbes Magazine). Here are some of his thoughts on investments and life.

·         He made his first investment at age 11 and he now regrets that he started too late! -“It is never too early to start investing.”

·         He bought a small farm at age 14 with savings from delivering newspapers. One could have bought many things with little savings.        -“Encourage your children to start some kind of business.”

·         He still lives in the same small 3-bedroom house in mid-town Omaha , that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a boundary wall or a fence. -“Don't buy more than what you really need".

·         He drives his own car everywhere and does not have a driver or security people around him. He never travels by private jet, although he owns the world's largest private jet company.  -“Always think how you can accomplish things economically.”

·         He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television. -“Don't try to show off, just be your self and do what you enjoy doing.”

·         "Stay away from credit cards and invest in yourself".

·         "Money doesn't create man but it is the man who created money."

·         "Don't waste your money on unnecessary things; just spend on them  who really in need rather. After all it's your life then why give chance to others to rule our  life." 

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

·         "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

·         "Our favourite holding period is forever."

·         "When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact."

·         "Risk comes from not knowing what you're doing."

·         "If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes."

·         "A public-opinion poll is no substitute for thought."

·         "If a business does well, the stock eventually follows."

·         "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."

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