It’s easy to put successful investors, stock pickers or economic forecasters up on a pedestal if they seem to always get it right, but the reality is we all make decisions based on certain principles, and we do well if those principles lead us to favourable decisions more often than not.
In this video, Warren Buffett shares some of the principles that have worked for him over the years, while also sharing where he’s gone wrong.
Buffett’s money personality and style is characterised by his reference to the principles he likes to run by, such as focus on what your investing in more so than when you’re investing in it, learn from other people’s mistakes, look where you’re going as opposed to where you’ve been, and to focus more so on company-to-company related facts as opposed to macro-economic matters.
While Buffett has demonstrated unquestionable investing expertise, and exposes plenty of sound principles, keep in mind that his approach and style doesn’t necessarily suit everyone.
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