Business Rules of Warren Buffett
• Business Rules Warren Buffett
Legendary investor caution and greed, inheritance, and luck
At my age, success in life is measured by how much of the people from whom you are waiting for the love, really loves you.
As investors, we belong to a booming industry as well as to space exploration. We admire these brave attempt, but they prefer to remain on the sidelines.
If the management of high professional reputation of the company is taken from the poor economic standing, it remains unchanged only the reputation of the company.
I came to the conclusion that should only work with people that I like, that trust and admire.
Roads in the business world is always littered with potholes, and an action plan, which requires to avoid them - it's always a plan that leads to disaster.
We're just trying to be careful when other gripping greed, and greedy when others are fearful.
The key point of our investment style is a kind of lethargy, bordering on laziness.
I buy a business, rather than action - business, which I would like to own forever.
Invests only in companies that are part of your circle of competence. Dimensions of this circle do not matter. The important thing, as far as you correctly identified these dimensions.
We do not know how to solve complex business problems. All that we can do - is to avoid problems. in the field of investment success does not depend on how much the investor knows, but how realistic it evaluates the limit of their knowledge.
Assessing people need to look at them three qualities: integrity, intelligence and energy. If a person is not characteristic of the first quality, the other two can be fatal.
I read the annual reports of the companies, which I appreciate, as well as annual reports of their competitors. This is the main source of necessary information.
I can not make an investment in 50 or 75 companies. Such investments reminds me of Noah's Ark: the result can be a zoo.
If you want to protect yourself from any trouble related to the situation on the market, it should behave as the owner regardless of whether it comes to the whole company or for its actions.
You can use the market only as a reference point by which you can identify it if someone made another stupid.
The biblical imperative "be fruitful and multiply" in Berkshire Hathaway, we take seriously.
As well as the main owner of Berkshire Hathaway, the majority of our directors have invested the bulk of private capital into the company. We eat meals in our own kitchen.
With the market economy like husband and wife: they are related by marriage, but each of them unique personality and can act at its own discretion.
In the investment business pessimism - your friend, and euphoria - the enemy. Whether it is about actions or combinations of silk - I like buying quality merchandise when the price falls on him.
If you lose the money of the company, then you can find understanding. But if you nanesesh the slightest damage to the reputation of the firm, I will be ruthless.
Our actions must be checked rule "first band" ... let employees ask themselves if they want to do something about what the next day would have written on the front page of the local newspaper, read by their wives, children and friends.
I was lucky in this world. Chance to be born in the United States was for me one to fifty. Coming out of the mother's womb in the United States, rather than in any other country where I would be much less likely, I won the lottery.
The idea that I'm giving people unjustified hope of becoming fabulously wealthy, scares me ever since I began to sell shares.
You get rich, if you believe that you have only twenty attempts in life and every financial decision - this one a try.
I do not believe in the dynasty. Abolish the inheritance tax - it's the same thing as the Olympic team score of children who became the Olympic champion in the previous years.
And I like it when they pray with me.