Warren Buffet's Investment Advice

Stay liquid
Buy when everyone else is selling
Don't buy when everyone else is buying
Don't get suckered by big growth stories
Understand what you own
Defense beats offense
Be fearful when others are greedy; be greedy when others are fearful.
Trade only on an uptrend and sell the poor performers

Hard work
All hard work bring a profit, but mere talk leads only to poverty.

Earnings
Never depend on a single source of income. (At least make your Investments get you second earning)

Spending
If you buy things you don't need, you'll soon sell things you need.

Savings
Don't save what is left after spending; Spend what is left after saving.

Borrowings
The borrower becomes the lender's slave.

Accounting
It's no use carrying an umbrella, if your shoes are leaking.

Auditing
Beware of little expenses; A small leak can sink a large ship.

Risk-taking
Never test the depth of the river with both feet.(Have an alternate plan ready)
Risk comes from not knowing what you're doing. If you don't know jewelry, know the jeweler

Investment
Don't put all your eggs in one basket.

General Investment Rules
Rule Number 1 - Never lose money
Rule Number 2 - Don't forget rule number 1

If you don't feel comfortable owning something for 10 years, then don't own it for 10minutes.

There seems to be some perverse human characteristic that likes to make easy things difficult (Remember his advice to Bill Gates - keep it simple).

One's objective should be to get it right, get it quick, get it out, and get it over... your problem won't improve with age.

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

"I never buy anything unless I can fill out on a piece of paper my reasons. I may be wrong, but I would know the answer to that. "I'm paying $32 billion today for the Coca Cola Company because..." If you can't answer that question, you shouldn't buy it. If you can answer that question, and you do it a few times, you'll make a lot of money.

You ought to be able to explain why you're taking the job you're taking, why you're making the investment you're making, or whatever it may be. And if it can't stand applying pencil to paper, you'd better think it through some more. And if you can't write an intelligent answer to those questions, don't do it.