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Buffett: People with high IQs do not necessarily have good investment habits is the key to success!
Buffett: People with high IQs do not necessarily have good investment habits is the key to success!
Among all the super billionaires, from the perspective of investment and financial management, Buffett is undoubtedly the best learning object to make money. Bezos , the world’s richest man and Amazon founder, once asked Buffett: “Your investment philosophy can be said to be very simple, but why are people reluctant to copy your approach?”
Buffett said: “Because no one wants to get rich slowly.” This sentence expresses a key to his investment profits, which is the compound interest of time. Of course, the secret of Buffett’s investment profit is not only this, but here are six of Buffett’s words. If you want to make profits by investing, the method is not the only one. Keep these six words in mind and avoid detours for 10 years.
Quote 1: “We don’t have to be smarter than others, but we must have more self-control.” – Buffett
If you want to make money, especially by investing, you must control your emotions and stay rational. Buffett believes that you should focus on long-term value analysis and judgment instead of greed and fear of human desire. Control your emotions and put an end to all irrational buying and selling impulses. Then, if you make big money by investing or even making big money in other ways, you will have a beautiful and stable future.
Quote 2: “By studying your failures carefully and learning from them rationally, you can greatly improve your investment returns.” – Buffett
Reflecting on failures and drawing lessons from failures is one of Buffett’s most important investment habits. Buffett has carefully analyzed dozens of his failed investments and kept asking himself the reasons for the failure. This process is actually very painful, but the effect of making money is also extremely obvious – his investment success rate is getting higher and higher. high.
Quote 3: “You must endure the temptation to deviate from your guidelines.” – Buffett
Regarding Buffett’s investment and making money secret, his son Peter put it succinctly, that is, Buffett “has never been influenced and tempted by the outside world, but just kept reading and thinking.” For a mature person, Determination and perseverance are essential, especially in the face of temptation, but few people actually do it, and once they do, it’s often just a matter of time before making a fortune.
Quote 4: “85% of my investment strategy comes from Graham and 15% from Fisher.” – Buffett
Newton once said something to the effect that he was great because he stood on the shoulders of giants. Indeed, high apprentices come from famous teachers, and learning from the wisdom and experience of their predecessors will help them achieve success faster and better. Buffett is no exception. It can be said that he is a lifelong learner. Reading is his year-round habit. In terms of investment, he has long regarded the “Godfather of Wall Street” Graham and top investment guru Philip Fisher as his own. Mentors, they have thoroughly learned the essence of their investment wisdom, and integrated them into their investment practice, making their own legend of wealth.
Quote 5: “In a marathon, you have to run the entire distance if you want to run first.” – Warren Buffett
Once Buffett picks stocks, he buys them in large quantities and then holds them for the long term. Buffett is very opposed to short-term trading. He has repeatedly warned investors to keep a calm mind and hone their patience. Your investment will surely usher in satisfactory returns.
Quote 6: “Every morning when I wake up, I start on the same foot and always shave the same side first.” – Buffett
The University of Washington in the United States once invited Buffett and his friend Bill Gates to speak. At that time, the two occupied the first and second positions on the world’s richest list. When some students asked hot questions such as “How do you get rich by investing” and “How do you become rich enough to rival the country”, Buffett said: “The answer is not in IQ, why are people with high IQ not necessarily rich? The reason is actually habit. .” In this regard, Gates on the side strongly agrees, thinking that good habits are not only the key to successful investment, but also the ladder of all getting rich.
Source: Online Life Micro Journal
