Warren Buffet is known as the investor with 'the Midas Touch'.

Buffet is the most

successful investor alive -- the only member among the Forbes' list of the world's richest
people to have earned his fortune entirely through investing. Every investor can profit
from Buffet's investing strategies...
nvesting calls for much the same !ualities as those re!uired to become a first-class ballet
dancer or concert pianist.
". #ou have to want to do it enough to overcome the difficulties. know lots of aspiring
writers. Without doubt one of the biggest differences between the ones that make it and
the ones that don't is simply that the successful ones have the drive to win through in
spite of all the frustrations.
$or something that you desperately want to do% the difference between the professional
and the amateur is often &ust that the professional will work terribly hard and keep at it.
'lthough great investors are almost always rich% they rarely live in a grandiose way
during their most successful period% or form collections% engage in public works% or
pursue arts or sports.
The great investor% like the great chess player% is determined to become a master of that
particular craft% sometimes without caring whether he only gets rich or immensely rich. t
has been rightly said that the reward of the army general is not a bigger tent but
command. t is% in other words% succeeding in the process itself that fascinates the greatest
investors
(. )losely related to this is originality. Many if not most great artists are innovators.
*hakespeare% for e+ample% coined thousands of words.
To succeed in investing re!uires a vigorously independent turn of mind% and indeed often
an element of perversity% since the money is made by doing the opposite of the crowd at
key points.
To pull off a great investment coup it is best to be the only substantial buyer of a stock in
which you are building up a position.
,apoleon observed that one good general was enough for an army% and rarely held
councils of war. *imilarly% committee investing is almost always mediocre investing.
-. .owever% you should not invest unless you are sure of what you are doing. *ince
there will be some things that you can buy with certainty% why bother with those that you
cannot/
0nly if you are perfectly certain that you are right will you have the confidence to buck
the opinion of the crowd at the critical moments1 only then will you make your fortune.
2. f possible% be fle+ible about buying stocks in different industries% always sub&ect to the
criterion that you know your facts for sure.
3. 0nly buy a stock the way you would buy a house that you intended to live in. #ou
should understand it well enough and like it well enough so that you would be content to
own it in the absence of any market.
Buffett finds it useful to write down the main reasons why a stock should be attractive
and then contemplate them1 once he has considered a case for a time% he makes up his
mind% and that is that.
4. Be thorough% cautious% and risk-averse. 5emember Buffett's two key rules for
successful investing6
5ule ,o. "6 ,ever lose money.
5ule ,o. (6 ,ever forget 5ule ,o. ".
7. 'll this re!uires energy and determination. That is why the investor should have the
same !uality Buffett insists on in management6 dedication to the &ob.
.e talks of his one-line employment form% whose only !uestion is% 8're you a fanatic/8
9reat investors% Buffett included% always are.