Warren Edward Buffett is an American business magnate, investor, and philanthropist, who is the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$88.9 billion as of December 2019, making him the fourth-wealthiest person in the world.
" We begin this New Year with dampened enthusiasm and dented optimism.
Our happiness is diluted and our peace is threatened by the financial illness
that has infected our families, organizations and nations.
Everyone is desperate to find a remedy that will cure their financial illness
and help them recover their financial health.
They expect the financial experts to provide them with remedies, forgetting
the fact that it is these experts who created this financial mess.
Every new year, I adopt a couple of old maxims as my beacons to guide my
future.
This self-prescribed therapy has ensured that with each passing year, I
grow wiser and not older.
This year, I invite you to tap into the financial wisdom of our elders
along with me, and become financially wiser.
Hard work: All hard work brings profit; but mere talk leads only to poverty.
Laziness: A sleeping lobster is carried away by the water current.
Earnings: Never depend on a single source of income.
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.
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.
Investment: Don't put all your eggs in one basket.
I'm certain that those who have already been practising these principles
remain financially healthy. I'm equally confident that those who resolve
to start practising these principles will quickly regain their financial
health.
Let us become wiser and lead a happy, healthy, prosperous and peaceful
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