You don稚 get labeled the 徹racle of Omaha for nothing.
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As one of the world痴 most successful investors, Warren Buffett痴 views on markets, companies and the economy have always been of great interest on Wall Street and Main Street.
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Now 95, Buffett is stepping down as CEO of Berkshire Hathaway, 60 years after taking a controlling share in the company.
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But during his long tenure Buffett has had plenty of sensible things to say about how to invest well and live a good life through the work you choose and the way you treat people.
Here痴 just a sampling:
Don稚 lose money
典he first rule in investment is don稚 lose. And the second rule in investment is don稚 forget the first rule.
Buffett is best known as a value investor someone who buys companies he believes are undervalued. 的f you buy things for far below what they池e worth and you buy a group of them, you basically don稚 lose money, he explained on Adam Smith痴 Money World.
But Buffett痴 advice also speaks to the need to diversify risk.
的t痴 the foundation of how I manage client money, said certified financial planner and CPA Brian Kearns. 的nvesting is about growth, but it is also about capital preservation. Find reasonably priced investments but don稚 risk too much of your net worth on one idea.
It also means investing across asset classes. 典hey all have different risk profiles and, when combined, allow you to hold investments for the long term because you will experience less volatility, Kearns said.
Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, in 2008.
Warren Buffett's life in pictures
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Warren Buffett greets shareholders during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, on May 3, 2008. Carlos Barria/Reuters
Focus on the essentials
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