Golden Rules of Warren Buffett

Never borrow money if you are not able to read in the morning to give the entire amount to the creditor.
Stay away from credit cards.
Invest in yourself. Remember that money does not create man, but man - money.
Live as easy as possible.
Do not do what you advise others. Just listen, and do as you see fit, even if it goes against everything that you advised.
Do not chase brands wear those things in which comfortable feel.
Manage your life for yourself, this is your life, and not a stranger.
Principles of Warren Buffett

Realism and the right incentives. From past mistakes we can learn a couple of lessons. The first lesson can be formulated as: excessive leverage, consisting of borrowed funds, will lead to big problems. Can lead to disaster situation in which people acquire housing, investing only 2-3% of your own money. Another important lesson is to find the right incentives. Sometimes the main incentive is the "everyone loses, and I win." Such an attitude could lead to problems.
"Cinderella at the royal ball." When things are good, people feel like Cinderella at the royal ball. But deep down, they are well aware that at midnight the carriage turn into a pumpkin, and the driver - a mouse. But while the ball is in full swing all around sparkles and shines, playing loud music, few pay attention to the time. In a capitalist system, this situation is repeated regularly. During the growth of the market, all make a bubble. And all are convinced that there is still need a couple minutes to midnight. But the problem is that no one can tell exactly what time it is. In this palace of hours no.
Heritage and charity. My testament drawn up so that after my death for ten years I have earned all the money will be spent. I prefer to give the right to dispose of my money to the people that I choose.
Do business with people you like and with others who share your goals. Money should not be the sole criterion in making business decisions. All we've ever worked with people like that would have paid a considerable sum to be not to see or work with them. If it were possible to measure the amount of money of joy and happiness, it would be obvious that the joy of working with pleasant people you far outweighs much more money derived from work with unpleasant business partners.
Need to find a company with an infinite demand for their products.
Leave your kids enough money so that they can do, anything. But not so much that they could do nothing.
If you only have $ 5 to the end of the week, most likely, you are reasonably dispose of this sum, spend it on what you really need. And if you have $ 100 for the same period, your decisions on purchases $ 5 is not so important, because you have another $ 95. People are not inclined as rationally manage the increased cash flow as if it were their last 5 dollars.
Look for shares as part of the business. I'm not trying to make money on the stock exchange. I buy shares on the assumption that the market may be closed the next day and did not open for the next two - five years.
Know your strengths and weaknesses, recognize their likes and dislikes.
Most investors become interested in certain shares, when all they are interested in. The best time to start to be interested - when no one else is interested. You can not have success, buying what populyarno.Segodnyashny investor will profit from yesterday's growth.
Never invest in a business that is not familiar to you, and which you do not understand.
If you have a harem of forty women, you never know quite well, none of the forty. Just things and financial instruments.
Price - this is what you pay and value and cost - is what you get.
It is necessary to invest in a company that is able to manage any fool, because once some fool necessarily lead it.
It makes sense to do anything when it becomes available. In my life there have been times when I nursed a whole heap of ideas, but there were also times of long lull. In any case, if in the next week to see me had to stand the idea, I started to do something. Otherwise, I did not move a finger.
"If you're so smart, then why am I so rich?»

For some of the results takes time, even if you put more effort and talent. You can not get a baby just a month, even if you force nine women pregnant at the same time.
When align ignorance and money borrowed, the consequences can be very interesting.
"If you have found himself in a hole, stop digging for a start.»

What does not make sense at all do not need to do well. No sense is wonderful to do what never bring money.
Do not take the risks that are great for you. Do not let the stock market tell you what to do. Play your game. This will give an opportunity not to lose money, and earn their.
The risk arises when you do not know what you're doing.