Warren Buffett truly is the definition of a successful entrepreneur. He became a self-made millionaire in by his early thirties by investing in stock purchases that everyone else saw no potential in. Buffett is the CEO and founder of Brookshire Hathaway originally a textile manufacturer facing hard times in the early 1960s. By 1963 Buffett had acquired enough of his stock to take control of the company. This company today still goes by Brookshire Hathaway. However, since Buffett took control it has been a very successful investment firm since the mid-sixties.
Warren Buffett Words Of Wisdom
Warren Buffett has two very simple rules for investing. The first rule is never losing money and the second rule is never to forget rule one! Warren Buffett believes in keeping a rational attitude no matter how much the stocks may swing back and forth in the valve.
Never Invest In A Company That You Do Not Understand
Warren believes if you have been successful in stock purchases you have to understand the company you are investing in. Buffett believes sometimes we can fool ourselves into buying stock in a company that we do not understand it’s operation or purpose at all. To give you an example Buffett has until recently stayed out of the technology business because he did not understand it.
Buy Wonderful Companies
Warren Buffett has through the years focused on investing in the right companies. This is an entirely different approach from the traditional investing style. In traditional investing the main focus is the price of the stock and how deeply discounted the share price is.
Honesty In Others
Waren Buffett believes you have to be careful who you trust. Warren Buffett only works with people he can trust. Buffett believes in taking a look at the company’s honesty and has a track record of proven honest business dealings.