Warren Buffet is an American investor and philanthropist. He is a very big influence on the young and the older generation because he is considered one of the most successful investors in the world. With his overflowing wisdom and insight, people constantly go to him for financial advice, and Warren has been known to give sound advice to anyone who is ready to receive the information with an open mind.
One of the most well-known pieces of advice he has given to the younger generation is to avoid losing money. It is easy to lose money while investing or starting a business, and Warren Buffet knows a lot about losing cash. His advice to young people, or anyone for that matter, is to know what you’re investing in and make sure you make a profit. Simple, but highly effective advice.
Always limit how much money you lose in any venture.
He also mentions to never lose your head while investing. Although you may try your best to avoid losing money, it is still bound to happen. So when the tough times come, make sure to keep your head high and continue to bet on your success. This is one of his more popular pieces of advice because a lot of people go through hard times in business. So, it is important to stay confident and persistent.
Although the advice above is great, his most popular is arguably to invest in yourself first. A lot of people waste time failing at business and investing. The greatest business owners and investor in history are always those who invest in their own education first. He wants people to obtain deep knowledge of their field of interest while they are investing. This idea alone will make the difference between a successful investor and one who fails.