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Warren Buffett's 10 Ways To Get Rich
- slater 18y agowhy is this typo-riddled article, full of "folksy" tales, on the front page? "save money and reinvest profits"? is that so, cap'n obvious? :D
- markessien 18y agoIt's not obvious. Most of the people on this site, if they sold their website or whatever project for 100.000, will blow at least 20.000 on pointless stuff.
- zasz 18y agoI think it is pretty obvious; it's just not easy to restrain yourself from the temptation of getting a new toy, and it's too easy to rationalize why it's not necessary to save right now.
- ryanwaggoner 18y agoThe fact that it's obvious but not easy does not necessarily mean that it's not worth reiterating periodically. Quite the opposite. Another good example of something that's obvious and hard to do is "Make something people want" :-)
- sireat 18y agoThere is nothing wrong with blowing 20% of whatever you make on pointless stuff (though 10% would probably be more prudent), key is not blowing the other 80%.
- petercooper 18y agoJust to note, warrenbuffett.com is not an official Warren Buffett site. The front page does say this - but this article does not. This doesn't detract from the article's quality - just the provenance of this copy.
- wonka 18y agowhy dont you just save money thats what i do
- cool-RR 18y agoThis is his number five: "5. Watch Small Expenses: Buffett invests in businesses run by managers who obsess over the tiniest costs. He one acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was)." Do you believe in this? I totally don't. I think it's bullcrap. Anyone cares to prove me wrong?
- j2d2 18y agoThis kind of article would be appropriate for newmogul.com also. Which is run by nickb.
- prakash 18y ago#11: Listen to your own advice and not speculate in derivatives (re: http://blogs.moneycentral.msn.com/topstocks/archive/2008/11/20/buffett-s-huge-derivatives-bet-proves-costly.aspx http://blogs.moneycentral.msn.com/topstocks/archive/2008/11/...)
- truebosko 18y agoI think "10. Know What Success Really Means" is awesome. Truly shows what a man he is.
- quellhorst 18y agoHow about listening to actual rich people, not those who run websites acting as if they know what made someone rich.
- gtt 18y agobtw failure stories may be even more interesting.... generalizing from incomplete data sets (winners only) is dangerous.
- ntoshev 18y agoOnly if you have a scientific mindset. Otherwise it might be just inspiring ;) A lot of rich people didn't theorize much about how to get rich. They just followed their gut feeling about how to execute, and they did it with confidence. Maybe the confidence makes all the difference.
- gjm11 18y agoI think quite a lot of poor people also just followed their gut feeling about how to execute, and did it with confidence. But of course you don't get to hear so much from them, for obvious reasons.
- ntoshev 18y agoYeah, maybe. Can't say without reliable data.
- alex_c 18y agoWhat do you do if your gut feeling tells you, with confidence, to study what rich people did before attempting it yourself? Just saying :)
- wensing 18y agoIn that case, may I recommend The Millionaire Next Door? http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/dp/0671015206 http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/d... EDIT: Must say I'm not really sure why I was downmodded; this is an excellent book (a classic really) that provides advice from 'actual rich people'. Maybe it's the get-rich-slowly aspect?
- Raphael 18y agoThere are only 10 kinds of people in the world. Those who are rich and those who are not.
- teuobk 18y agoHow about this: Build things people want (and are willing to pay for).
- trapper 18y agoBuild things people will pay for. It's too easy to build something people want but won't pay for.
- vegai 18y ago5. Watch Small Expenses ...sounds like a good way to lose your best employees. When done without thinking.
- redorb 18y agomy boss always told me you can either save more or make more, and to ways treat those atleast as equals because the savings usually come with free time. I found this advice better than the 10 but that's probably cause I know my boss; I don't know warren
- TheBosch 18y agoIt's amazing how many people think that flashy and fancy is more important than common sense which those 10 points were all about!