Warren Buffett gave a 1-hour class on how not to lose money investing.
Here is a summary of everything you need to know:
- Rule number 1 is don't lose money, rule number 2 is don't forget rule number 1.
- Never risk what you have and need for what you don't have and don't need.
- You only need to get rich once.
- Never borrow money to invest.
- 16 Wall Street geniuses went bankrupt using leverage: intelligence doesn't prevent stupidity.
- Only invest in businesses you can understand.
- Look for businesses with a "moat" that competitors can't cross.
- You should be able to see where that busine
View Original