Today is Teachers day, a very important day to remember the ones who have, in many ways, moulded your thought process and taught you a way in life to earn an honest living. In many ways they are the role models and these are not just the acadamic teachers but those who teach life lessons.
For those in the stock market, there is no great inspiring teacher than Warren Buffet. Certainly his quotes will motivate us during this current trouble and confusing times if you have not predicted this.
Buffet's brilliance is in the simplicity of his advice
1. Keep things simple and dont swing for the fences.
2. When promised quick profits, respond with a quick "no".
3. Focus on the future productivity of the asset you are considering. If you dont feel comfortable making a rough estimate of the assets future earnings, just forget and move on.
4. With regards to speculation he says - I am unable to speculate sucessfully, and i am skeptical of those who claim sustained success at doing so. Half of all coin-flippers will win their first toss; none of those winners has an exception of profit if he continues to play the game.
5. A real winner of an advice - the fact that a given asset has appreciated in the recent past is never a reason to buy it.
6. For those who value stocks on a day to day basis - when he invested in properties he thought on the long term value, not daily valuations. He puts it so beautifully, "Games are won by players who focus on the playing field - not by those whose eyes are glued on the scoreboard."
7. Rational people dont risk what they have and need for what they dont have and dont need.
8. He says that one should invest based on one's "circle of competence" and make study of business they want to invest in a priority. And for those who do not have this competence, he says, " the goal should not be to pick up winners but rather be to own a cross section of businesses that in aggregate are to do well." This he explains is the "what" of investing.
For those in the stock market, there is no great inspiring teacher than Warren Buffet. Certainly his quotes will motivate us during this current trouble and confusing times if you have not predicted this.
Buffet's brilliance is in the simplicity of his advice
1. Keep things simple and dont swing for the fences.
2. When promised quick profits, respond with a quick "no".
3. Focus on the future productivity of the asset you are considering. If you dont feel comfortable making a rough estimate of the assets future earnings, just forget and move on.
4. With regards to speculation he says - I am unable to speculate sucessfully, and i am skeptical of those who claim sustained success at doing so. Half of all coin-flippers will win their first toss; none of those winners has an exception of profit if he continues to play the game.
5. A real winner of an advice - the fact that a given asset has appreciated in the recent past is never a reason to buy it.
6. For those who value stocks on a day to day basis - when he invested in properties he thought on the long term value, not daily valuations. He puts it so beautifully, "Games are won by players who focus on the playing field - not by those whose eyes are glued on the scoreboard."
7. Rational people dont risk what they have and need for what they dont have and dont need.
8. He says that one should invest based on one's "circle of competence" and make study of business they want to invest in a priority. And for those who do not have this competence, he says, " the goal should not be to pick up winners but rather be to own a cross section of businesses that in aggregate are to do well." This he explains is the "what" of investing.
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