What I learnt from Warren’ Buffet 60 quote – Part 2
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It takes 20 years to build a reputation and five minutes to ruin it. If you think about that you’ll do things differently – Warren Buffett
You won’t find Warren Buffet said “Secrets to instant wealth”. His investment approach is simple. Perhaps even old-fashioned. He built his reputation and honesty as great person. Have you hear some finance property development company called Fincorp. They were built for cheat investors’ money. It collapse in 2007 and there had so many this kind of companies today which offer wealth creation suggestions. I think that it took time and hard effort to build personal brand or company’s reputation.
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Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1. – Warren Buffett
From surface, it looked so simple for this quote. But how many times for the investors lose their capital due to they believe get rich quick sales scam? Research and invest in finance knowledge are the keys.
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There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning. – Warren Buffett
We have known three things: firstly, there is a class system under capitalism; secondly, there is also class war between the two classes – the working class and capitalist class; and thirdly, Mr Buffett’s capitalist class is wining. They are the ruler of the world and set up the rules.
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It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction – Warren Buffett
Some people used to tell me that your salaries are the middle of your closed 3 friends. Thanks for Internet and you can meet so many entrepreneurs and amazing public speakers in Internet. It helps you to learn and listen the people who have a lot of knowledge than you.
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You can’t produce a baby in one month by getting nine women pregnant. – Warren Buffett
This is most funny and true one. When I open youtuber and how many times, you will hear so many people claim that they will make you rich instant, you can make money while you sleep…….In the world, there is no such secrets and everything take time.
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You only have to do very few things right in your life so long as you don’t do too many things wrong. – Warren Buffett
For me, it is about focus. Focus on one thing and one time and learn well. In the past many years, I am glad that I did few critical decisions right. It was not perfect and can be much better profitable. But it lay very solid foundations for my finance independence.
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You never know who’s swimming naked until the tide goes out. – Warren Buffett
This quote taught me that things may look good and rosy up to a certain point, but if a company is leveraged too much expecting a wave to come, but instead the tide goes out, everything will be exposed. It also showed that when whole index is high and the share also high, but only time can test whether the company can last. For personal finance, I learnt that it is quite important that you have emergency fund and diversified the investment. Because emergency fund will help you to swim with clothes on.
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There seems to be some perverse human characteristic that likes to make easy things difficult. – Warren Buffett
Invest all the time and invest in Warren Buffet B class share and index fund. It seemed that it is quite simple for me and let us see.
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Never ask a barber if you need a haircut. – Warren Buffett
Be careful who you listen to, what’s type of suggestions are you listen to? Is some type of financial planners take big commission from some management fund and recommend to you? Is wealth creation advisor try to sell your over price developer’s apartments? Only finance literature will help us to become more knowledgeable.
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I always knew I was going to be rich. I don’t think I ever doubted it for a minute. – Warren Buffett
It taught me that set up goal early and keep going to work on it. Focus on the most important goal and niche in your life. You will reach it. It took time to think about 1 what is your strong interests? 2, what is your strength?
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