Warren Buffett – “The Intelligent Investor”
I like that one 🙂
Invest don’t speculate.
It’s not a gamble, he looks at the asset itself and its return – that doesn’t include the property price but the potential yield. To quote Buffett the “fundamental earning power of the asset”. Additionally deal in what you are capable of understanding, in something with durability, in management with integrity and talent and remember nothing is worth an infinite price!
You don’t have to diversify
-stick with what you know.
The market is there to serve you not instruct you
Be a business owner
Allocate capital efficiently
Take the profits from one business and invest it in another…
Don’t get into debt
Break your own rules
I major in that
Give it away
$31 billion has gone to Bill Gates’ Foundation
So following the Buffett model I will be studying the form, betting only on handicaps, not following the market blindly, keeping in mind this pearl when looking at terrible races “don’t try to make a silk purse out of a sow’s ear, it’s difficult enough to make it out of silk”, re-investing the profits into the next race and giving it all to charity when I croak.