![]() ![]() In 1962, at the age of 32, he invested in Berkshire Hathaway (a new textile manufacturing company) and in one year, he became the company’s largest shareholder. Well, Warren Buffett is a great example!Īs a young adult, he had already spent years learning about investments so he started his own investment company, called Buffett Partnership but that’s not what he does today. Remember what we say about saving to invest, not saving to spend. He then invested $1,200 in a 40-acre farm. He had many childhood hustles and sold different things legitimately till he made about $2,000 at just 15. From childhood hustles to investment guru Now, Buffett’s advice to investors is “don’t watch the market closely.” Else, you’d make emotional investing decisions. “But he learned an important lesson about patience when the price later shot up to $200 per share. He bought three shares of the oil company, Cities Service (which concentrates on public utilities like natural gas, and electricity) at about $38 per share and then quickly sold them at $40 each with a profit of $2 per share. (I was rolling tyres and playing suwe at that age.) How did Warren Buffet build his wealth?Ĭurrently, at 92, he has a net worth of 99.1 billion USD, which is about Seventy-Three Trillion, Six Hundred and Thirty-One Billion, Three Hundred Million Naira (N73,631,300,000,000) – this is Google’s rate, not bank rate.Īccording to this CNBC article, “Buffett has spent his life fine-tuning his conservative approach to investing that favours long-term value over short-term gains.” This article details how Buffett bought his first stock at 11 years old. Instead, we have people who painstakingly build for many years (sometimes silently) and then they come into the limelight because they’ve become so good they can no longer hide. In life, we don’t really have people who become “suddenly successful”. Many people want to become like Warren Buffet, but do they really? He built his investment portfolio for more than 40 years and has become extremely successful at it. To be clear, it wasn’t that they had not started to earn returns, it was that they wanted much more – in just 5 months! Ponzi schemes are well-known for making people believe that “money grows like grass” but it doesn’t. We once had a displeased Cowrywise user share how they started investing in November 2020 and stopped in April 2021 because their numbers were not “growing” as they wished. make you money without too much thought or effort) are those you allow to grow – not for weeks but for years. Profitable investors know that investments that run on autopilot (i.e. It is “often associated with honour, nobility, and wisdom thanks to its size and longevity”. Oaks last for up to 300 years and even other trees know that the Oak is not their mate (cue those trees in your compound that dance when there’s heavy rain and thunder). It grows slowly, but surely at its own rate.” It’s a symbol of strength, morale, resistance and knowledge. According to, “the Oak tree is one of the most loved trees in the world, and with good reason. You want to see your investments like an oak tree. Nobody buys a farm based on whether they think it’s going to rain next year – they buy it because they think it’s a good investment over 10 to 20 years. Let’s begin with the most important habit 1. What mindset do they have? How do they spend their time? Most importantly, how do they multiply their money using investments? In this article, you’ll learn the 7 habits of highly profitable investors. It is important to deeply understand the financial world, as well as your risk appetite and then combine both to get the best outcomes for your investment journey. They even encourage people who want to jump a process with quotes like “a child first starts trying to roll by themselves, then they learn how to crawl, then they start to walk before they can begin to run.” Well, if this is true for babies, then it is true for investments too.īuilding wealth takes time and like Rome, the most successful investors were not built in a day. ![]() ![]() Many people like the “baby steps” analogy. ![]() You’re in the right place if you want to learn how to be a good investor this detailed guide contains habits that will set you up for success. ![]()
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