2. No one cares about your money as much as you do: Buffet makes all his own investment decisions for his best interest; not the commission-based interest of financial advisers, stock brokers etc
3. Do your home work- Scan thousands of stock: Buffet spends 18hours a day working on investment capital, saying investors should think of themselves as partial owners.
4. Over come your fear of risk: people are afraid that investing will cause them to loose money but Buffet says stocks outperform bonds, banks and even gold; and are safer too.
5. Focus on the long term: Putting off saving/investing means you'll need to save more in less time for the same outcome.
6. Invest in quality Business: The result of doing your homework is determining worthy companies. Buffet is famously invested in Coca cola, wells Fargo and IBM.
7. Hunt for exceptional bargains for solid companies: Buffet recommends buying stock during a crash. when even great companies have extremely low prices.
8. Make decisions to invest based on how well money is used by Company management: Buffet feels penny pinching indicates a profitable mindset. once, he acquired a company whose owner took the time to discover the toilet paper roll wasn't really the advertised 500 sheets.
9. Be patient; wait until everything is in your favor to interest: when conditions align, buy an appropriate amount of shares. Buffet recommends holding stocks in 10-15 companies.
10. Sell loosing stock when the market is up; Buy winning stock during a crash: Selling a dud stock at its worst adds to your loss, and purchasing a great stock at peak price cuts your gain. "the beauty of stocks is they do sell at silly prices sometimes. .....Thats how Charly [munger] and I got rich." warren says