Council Chronicle

Wednesday, January 20, 2021
Log in
  • National News
  • Business & Economy
  • Technology
  • Science
  • Health
  • About CC
    • Our Team
    • Contact Us
    • Privacy Policy GDPR
    • Terms of Use

Pages

  • About Council Chronicle
  • Contact Us
  • Our Team
  • Privacy Policy GDPR
  • Terms of Use

Recent Posts

  • Former Wife of Prolific Arizona Serial Killer Speaks Up First Time after Scottsdale Suicide June 29, 2018
  • Indiana Couple Arrested After Authorities Discovered Cruel Punishment Device in Home June 28, 2018
  • Schizophrenic Oregon Man Who Was Seen Carrying His Mother’s Head Committed to Psychiatric Facility June 27, 2018
  • Texas Lawmen Looking for Four Suspect Who Tortured Child During Home Invasion June 27, 2018
  • Retirement Home Resident Reported Fake Fire to Draw In Firefighters and Shoot Them June 26, 2018
  • Arkansas Man Kills Wife, Sticks Body In Chest Freezer Before Committing Suicide June 26, 2018
  • West Virginia Man Arrested After He Tried to Baptize Family by Drowning Them in the Bathtub June 25, 2018

Some of Warren Buffett’s Powerful Advice on Financial Success

February 27, 2016 By Dustin Smith Leave a Comment

Email, RSS Follow
'Warren Buffett'

Throughout the years, the business magnate has shared a plethora of financial tips that helped him succeed in business.

In his letters to Berkshire Hathaway Inc.’s investors, Warren Buffet, 85, gave plenty of advice on financial success not only to shareholders, but to business executives, home buyers, and even to his successor, as well.

In each of those annual letters, the billionaire has also told investors what he wouldn’t do if he wanted to stay away from financial disaster. We handpicked some of the most significant.

On the stock market, he firmly believes that a relaxed attitude is the greatest asset. He recommends investors not to stay connected to stock prices 24/7, as games are won by players who focus on the game not on the scoreboard.

He also thinks that investors should not be quick to celebrate when stock prices are climbing, and not get distracted by macro-economic predictions. Plus, any investors should have a diversified portfolio and risk investing in other industries. He noted that a commonly made mistake of small investors is to invest money in the same place they had earned it before.

Plus, make sure that you have extra cash when you need it. Don’t rely on bank loans or the “kindness of strangers,” Buffet wrote in a 2010 letter. Additionally, the billionaire advises anyone not to bet against America.

“We will regularly grumble about our government. But, most assuredly, America’s best days lie ahead.”

he added in 2015.

For executives and regular people, he recommends not beating themselves over past mistakes. Instead, one should take full responsibility for any mistake and move forward. And don’t take the process of analyzing a mistake to see what went wrong and how it could get fixed for the habit of ‘agonizing’ over that mistake ad infinitum.

Don’t procrastinate. The best moment to act both in business and personal life is now. Plus, you should refrain from telling professionals what to do. The mogul said that at Berkshire no one ever told professional hitters how to swing.

To his successor, Buffett has a separate set of instructions. First, his successor should only worry about what he calls the ABC of a badly-run business: arrogance, bureaucracy and complacency. He deemed these three ‘cancers’ that should be stopped before they kill a business.

Second, his successor should not be greedy when it comes to fair compensation. He or she should not try to match the paychecks of their more generously-compensated counterparts, even though the latter may not achieve as much.
Image Source: YouTube

Email, RSS Follow

Filed Under: Business & Economy Tagged With: financial success, tips for financial success, Warren Buffett

Leave a Reply Cancel reply

Your email address will not be published.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 18 other subscribers

Recent Articles

ethics in dictionary highlighted

NIH Will Examine Ethical Problems of One of Their Studies

March 27, 2018 By Adam Martin Leave a Comment

biomutant character

Eleven-Minutes Long Biomutant Trailer Prepares You for Amazing Gameplay and Mechanics

August 26, 2017 By Adam Martin Leave a Comment

intime alibaba

Intime May Be Acquired By Its Founder And Alibaba

January 11, 2017 By Jesse Skelton Leave a Comment

Newborn baby

A Woman Gave Birth to Baby After Fertilizing Frozen Ovary

December 16, 2016 By Lee Raulin Leave a Comment

Parkes radio telescope

Hunting Aliens with Parkes Radio Telescope

November 11, 2016 By Ben Beckstrom Leave a Comment

man suffering from election season stress

Stressed Out? Here Are 7 Ways to Get Rid of Election Season Stress

October 19, 2016 By Adam Martin Leave a Comment

Disney World wants to prevent fraud.

Disney World prevents fraud by scanning children’s fingers

September 8, 2016 By Adam Martin Leave a Comment

artificial intelligence

How will the Artificial Intelligence will affect our life by 2030?

September 3, 2016 By Adam Martin Leave a Comment

opera sync

Opera Sync resets passwords after it was hacked

August 30, 2016 By Adam Martin Leave a Comment

viping

Why are teens viping – flavours or nicotine?

August 26, 2016 By Dustin Smith Leave a Comment

sex abuse

Doctors in sex abuse cases return to work. What happens with their victims?

August 25, 2016 By Adam Martin Leave a Comment

affection

Affection or food – which is more important for a dog?

August 19, 2016 By Adam Martin Leave a Comment

Chipotle restaurant

Chipotle to Open its First Burger Joint

July 30, 2016 By Ben Beckstrom Leave a Comment

Chicken sandwich from Chick-fil-A

Chick-fil-A Rolls Out Protein-Packed Grill Breakfast Sandwich

July 20, 2016 By Ben Beckstrom Leave a Comment

Related Articles

  • ethics in dictionary highlighted

    NIH Will Examine Ethical Problems of One of Their Studies

    Mar 27, 2018
  • biomutant character

    Eleven-Minutes Long Biomutant Trailer Prepares You for Amazing Gameplay and Mechanics

    Aug 26, 2017
  • intime alibaba

    Intime May Be Acquired By Its Founder And Alibaba

    Jan 11, 2017
  • Newborn baby

    A Woman Gave Birth to Baby After Fertilizing Frozen Ovary

    Dec 16, 2016
  • Parkes radio telescope

    Hunting Aliens with Parkes Radio Telescope

    Nov 11, 2016
  • man suffering from election season stress

    Stressed Out? Here Are 7 Ways to Get Rid of Election Season Stress

    Oct 19, 2016
  • Disney World wants to prevent fraud.

    Disney World prevents fraud by scanning children’s fingers

    Sep 8, 2016
  • artificial intelligence

    How will the Artificial Intelligence will affect our life by 2030?

    Sep 3, 2016
  • Opera Sync resets passwords after it was hacked

    Aug 30, 2016
  • viping

    Why are teens viping – flavours or nicotine?

    Aug 26, 2016

Categories

  • Breaking News
  • Business & Economy
  • Entertainment
  • Health
  • National News
  • Nature
  • Science
  • Technology
  • World News

Copyright © 2021 CouncilChronicle.com

About · Terms of Use · Privacy Policy · Contact

This website uses cookies to ensure you get the best experience on our website. Learn more.