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He committed to setting aside 50% of what he earned, and
Tony Robbins • MONEY Master the Game: 7 Simple Steps to Financial Freedom
When Warren lectures at business schools, he says, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches, representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.” He says, “Under
... See moreCharles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
Fifth, said Templeton, the best way to find bargains is to study whichever assets have performed most dismally in the past five years, then to assess whether the cause of those woes is temporary or permanent.
William Green • Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life
If you want to try your luck at it, put aside a portion—the smaller the better—of your capital in a separate fund for this purpose.
Benjamin Graham • The Intelligent Investor, Rev. Ed (Collins Business Essentials)
How many insights do you need? Well, I’d argue that you don’t need many in a lifetime. If you look at Berkshire Hathaway and all of its accumulated billions, the top 10 insights account for most of it. And that’s with a very brilliant man—Warren’s a lot more able than I am and very disciplined—devoting his lifetime to it. I don’t mean to say that h
... See moreCharles T. Munger • Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger
Seek a partner who will never second-guess you nor sulk when you make expensive mistakes. Look also for a generous soul who will put up his own money and work for peanuts. Finally, join with someone who will constantly add to the fun as you travel a long road together.