Have you heard about the famous Oracle of Omaha? He’s no genius, but considered a stock market prodigy. Investing your hard earned money, whether on stock market or on real estate such as condormitels is one of the wisest choices you can make in your life. It may not show instant increase in your bank account, but in the right time, when it matures, you can feel its presence and security of your future.
So, what are the most talked about simple investing tips that Warren Buffett suggests to young investors?
Know your investment
This one’s basic, but most fail to see its importance. One of the easiest way to protect your money is to know where you are investing it. It doesn’t require you to be an expert in your chosen investment, just be knowledgeable about how it works, and its pros and cons. Get to know the company as well, by doing a little research. Don’t just dive into something just because it is hot or in trend. Be careful when making investments, or else you might lose everything in blink of an eye.
Focus on long term goal
Invest on company you believe that can survive in the long run. Find great investments opportunities, like in condormitels and its sachet business model. Keep in mind that building wealth is not an overnight affair, it’ll demand time and patience.
“No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.” – Warren Buffett
Never speculate. The market is constant, there are days it’ll favor your and there are days that it’ll go against you, and that mustn’t cause you to panic. Trust the system and never lose sight of your long term goal.
Keep it Simple, Stupid!
Stick with simple investment structures. Simple is better, complex is trouble. According to Warren Buffett, in anything you do, understand exactly what you are doing, and the best way to understand everything is when it is simplified and straightforward.
Stay in your circle of competence and never cease to learn. Doing so will lead to the road of success.