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As one of the world窶冱 most successful investors, Warren Buffett窶冱 views on markets, companies and the economy have always been of great interest on Wall Street and Main Street.
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Now 95, Buffett is stepping down as CEO of Berkshire Hathaway, 60 years after taking a controlling share in the company.
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But during his long tenure Buffett has had plenty of sensible things to say about how to invest well and live a good life through the work you choose and the way you treat people.
Here窶冱 just a sampling:
Don窶冲 lose money
窶弋he first rule in investment is don窶冲 lose. And the second rule in investment is don窶冲 forget the first rule.窶
Buffett is best known as a value investor 窶 someone who buys companies he believes are undervalued. 窶廬f you buy things for far below what they窶决e worth and you buy a group of them, you basically don窶冲 lose money,窶 he explained on Adam Smith窶冱 Money World.
But Buffett窶冱 advice also speaks to the need to diversify risk.
窶廬t窶冱 the foundation of how I manage client money,窶 said certified financial planner and CPA Brian Kearns. 窶廬nvesting is about growth, but it is also about capital preservation. 窶ヲ Find reasonably priced investments 窶ヲ but don窶冲 risk too much of your net worth on one idea.窶
It also means investing across asset classes. 窶弋hey all have different risk profiles and, when combined, allow you to hold investments for the long term because you will experience less volatility,窶 Kearns said.
Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, in 2008.
Warren Buffett's life in pictures
42 photos
Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, on May 3, 2008. Carlos Barria/Reuters
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[RonaldSeepe] - 1/11 14:41
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