SubscribeWarren Buffet’s Rules YOU Can Use
Posted on Mar 07, 2009 under Uncategorized | 3 CommentsWhile I am still putting together my plan for this blog, I thought I’d put out this little ditty about being financially successful. You can get a deeper perspective about rich people by reading “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. The main concepts apply to Warren Buffet, although he has taken his money level 1000-fold (i.e., a thousand million equals a billion) to billionaire status. I really got a kick out of the advice that I am about to convey from Mr. Buffet. It hits home at SO MANY levels, and it has done so every tiime I’ve heard it.
These are the rules that Warren Buffet gives to the CEOs of his companies:
Rule No. 1: Do not lose any of your shareholder’s money.
Rule No. 2: Do not forget rule number 1.
Okay…so the message is, do not lose money. Wouldn’t our economic lives, personally, nationally and globally, be a lot different if we and all the folks in charge had followed these rules?
If this advice seems simple-minded, then at least consider its source. Warren Buffet has done pretty well with it. You can, too.
All the best,
Dr. D
by Lara Mealor, on March 23 2009 @ 6:43 am
So many people are looking for the newest angle to be successful. Warren Buffett and many others who enjoy success have found success through basic fundamentals. Don’t lose money is a great first step!
by Stevem Sabatier, on August 1 2009 @ 1:21 am
Hmmm. Fundamentals is Key. Not only as a first step but for later also. I interviewed a man who is grossing >300,000 a month via insurance sales and marketing. Upon receiving his award at the national convention in 2008, I asked him, “what did you learn or exprience that was new for you- this past 12 mos?” After a 10 second pause, to which i remained silent as well, he replied, “Fundamentals, stick with the fundamentals.” He then shared about 3-5 minutes explaining to me how they attempted to do some new things and tweak so as to produce more income and according to their metrics was actually doing harm. After re-treating back to their fundamentals on a weekly basis, they set the record ever– the 2007 year for which he had just been presented an award.
Stick to the basics, Key for Athletes, Businesses, Relationships, Nature, etc.
effort beyond the basics usually requires more resource and has a decreasing marginal utility-economically speaking.
by Stevem Sabatier, on August 1 2009 @ 1:22 am
W. BUffet tip #2:
Warren what is your secret,”I buy my straw hats in the winter”.
email me if you don’t get the gem in this one.
steven@louisiana.edu
peace,
ss