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In the book 7 Secrets to Investing Like Warren Buffett, Mary Buffett and Sean Seah discuss the most important rules for investing wisely and building wealth.
You need money to invest, so you must save more and avoid debt as much as possible. One must save at least 10% of their income per month.
Value investing is a concept that tells you to invest in underpriced assets and sell them when they have attained their true value.
Invest in companies that can have a competitive edge that protects their profits from risks. Buffett calls them ‘economic moats’.
There is a right time for everything, even for investing. Warren Buffet believed in buying quality stocks when they were undervalued.
Research and invest in companies that operate in sectors you're interested in. Warren Buffett prioritises investing in companies that he understands.
No investor can be correct all the time, but a well-diversified portfolio adjusts for mistakes and protects against threats.
Reading the financial statements can give you a wealth of knowledge about a company. This helps you to make data-driven financial decisions.
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