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Want to be a billionaire? Read these 10 killer tips from Warren Buffett

by LLB Reporter
16th Aug 16 9:47 am

The Oracle of Omaha has spoken

They don’t call him the Oracle of Omaha for nothing. Warren Buffett is one of the most successful investors in the world who barely goes wrong when he takes an investment decision.

The self-made billionaire and owner of Berkshire Hathaway is worth a whopping $66.4bn.

The 85-year-old is a poster boy for all aspiring billionaires around the world. Take a look at these 10 investment tenets by Buffett:

1. “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.”

2. “Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.”

3. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.”

4. “In the short term, the market is a popularity contest. In the long term, the market is a weighing machine.”

5. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”

6. “Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.”

7. “If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio’s market value.”

8. “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.”

9. “I am a better investor because I am a businessman, and a better businessman because I am an investor.”

10. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”

 

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