Monday Mantra – Rule No. 1
This Monday mantra comes from The Tao of Warren Buffett
, a book which I received as a gift and have read over and over.
Rule No. 1
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1” – Warren Buffett
This Monday mantra comes from The Tao of Warren Buffett
, a book which I received as a gift and have read over and over.Rule No. 1
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1” – Warren Buffett
What Does it Mean?
The secret to building wealth: Compound returns. And the more you have to start with, the more it will compound. So taking too many risks with your wealth when you're young might not be the best strategy. While we are young and careless we sometimes take risks with our money that are downright stupid. Gambling Is A Fools Game. Gambling on the latest and hottest stock every time is a risky proposition with long term consequences. To chase investments that offer a high rate of return you must also know that it comes with a high rate of risk. Bill Gates once quipped “Warren’s and my betting has always been confined to $1 bets” when talking about them playing poker together. If two billionaires take risk management this seriously, both you and I should be doing the same thing.
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