5 investing secrets to become rich

Jeff Bezos, the founder of Amazon, once asked Warren Buffett: “His investment philosophy is very simple. So why don’t people copy his approach?”. “Because nobody wants to get rich slowly,” Buffett replied.

Buffett’s secret is patience, staying calm. He also pointed out 5 important secrets on the road to building a career, becoming a rich mine.

First: “We do not need to be smarter than others, but we must be more self-sufficient than others”.

For money to make money, high intelligence is not enough. The most important thing is to learn how to control your emotions and stay calm. The new steady state of mind helps you make rational investment decisions, not out of greed or fear. Any action of buying and selling from irrational motives can drag you down.

Second: “85% of my investment strategy comes from Graham, 15% from Fisher”

Newton once said, he learned to stand on the shoulders of giants to have success. The experience and wisdom of the forerunner is a good foundation for the latter to achieve success faster, more efficiently, avoiding detours. For Warren Buffett, an avid reader and inquisitive, standing on the shoulders of giants is always an indisputable truth.

In investing, this billionaire always considers Benjamin Graham (who is known as the “Godfather of Wall Street”) and Philip Arthur Fisher (the world’s investment master) as his mentors. He learned from them investment secrets, then put them into practice. It is the attitude of constant learning that has helped the billionaire invest successfully.

Third: “Study the past failure carefully and learn from it with reason”.

Throughout his life, Warren Buffett has constantly reflected on failure and learned from experience. The billionaire has carefully analyzed dozens of failed portfolios and constantly wondered what led to that situation. This is not an easy process, but it is useful. His investment success rate is increasing day by day.

Fourth: “You must give up temptations so as not to deflect your decision”.

Peter Buffett, son of Warren Buffett, once commented on his father: “He was never influenced or tempted by the outside world. All he did was read and ponder for himself.”

For an adult, discipline and perseverance are essential elements. Especially when faced with temptation, although many people tell themselves to overcome, in reality, few people do this.

Thursday: “In a marathon, if you want to be the champion, you have to run enough to get to the finish line.”

Once Buffett picks a stock, he buys it in bulk and then holds it for a long time. Buffett rarely engages in short-term transactions. He also repeatedly warned people, in order to invest successfully, should keep a calm and patient attitude.

Vy Trang (According to Aboluowang)