Always. Be. Learning.
“What’s amazing about him [Warren Buffett], and why he has been the most successful investor ever, is because he got on a steep learning curve early in life and has never gotten off that curve,” says former hedge fund manager and Berkshire Hathaway expert Whitney Tilson. “You don’t see many people in their 60s, much less in their 80s, still on a steep learning curve.”
Tilson adds that Buffett’s reported interest in buying a stake in Uber (and ongoing interest in Apple’s) underscore his desire to keep learning. Known as the ‘Oracle of Omaha’, Buffett has made himself into a household name through legendary investing techniques that have amassed him a $79 billion net worth at 87 years old. Buffett started playing the markets at the young age of 11, but he’s offered sage wisdom on investing for years since he made his first millions.
Invest based on your own research
A constant will to learn has played a key role in developing that wisdom. Whether or not you choose to invest in something should be based on your research, not on your reaction to what other people are doing and saying. As Buffett puts it, “what others are doing means nothing.” That’s why Buffett recommends doing your homework beforehand and investing in solid companies that will last, rather than trying to time the market or react to your anxieties. Concentrate on the facts, not how you’re feeling.
“Don’t watch the market closely,” he told CNBC in 2016 amid wild fluctuations. “If they’re trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe sell them when they go up, they’re not going to have very good results.” Even when the market it tumultuous, it’s helpful to tune out other investors and concentrate on what you know.
“You’re right because your facts and reasoning are right,” Buffett add. “So all you do is you try to make sure that the facts you have are correct. And that’s usually pretty easy to do in this country. I mean, information is available on all kinds of things. Internet makes it even easier.”
Courtesy: www.cnbc.com and www.thestreet.com
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