WARREN BUFFETT TURNS 92

Warren Buffet turned 92 on August 30, 2022. He has a net worth of over a hundred billion dollars, and also known for his simple lifestyle.

He bought a five-bedroom house in 1958 and has been living there ever since. Expenditure on his lifestyle is minimal too. At this age the best quote attributed to him is: “If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster. Basically, when you get to my age, you’ll really measure your success in life by how many of the people you want to have love you actually do love you.”

Presented here are some of his investing lessons.

• “Never lose money, that’s Rule No. 1. And the second rule is ‘Never forget rule No.1.’”

• “Never invest in a business you cannot understand.”

• “The three most important words in investing are margin of safety. It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price. For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments.”

• “If a business does well, the stock eventually follows. For the investor, a too-high purchase price for the stock of an excellent company can undo the effects of a subsequent decade of favorable business developments. All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.”