There are people who can never be poor in this life no matter how much they try to burn down their wealth. Warren Buffet is definitely one of his thanks to his investment savvy that has helped him make billions of dollars. The success of Buffet is tired to many factors he has mastered over the years.
In 2004, during a conference in Omaha, a 14-year-old approached him to ask what advice he would give a young teenager who wants to be successful in life. In response Buffet said that the success of a person depends on who they hang out with. In order to get somewhere in life, he advises people to surround themselves with those who are already more accomplished.
Buffet concentrates on reinvestment and income generation.He is able to act smart even when other investors are struggling on the same niche. He buys stocks that are amazing and irresistible to miss and allows his investments to run on autopilot.
Buffet gives his investments his undivided attention. He takes his dividend payments and reinvests them in something else to keep his wealth growing. Every dollar investment is a dollar to work on for Buffet. He doesn’t believe that a company or investment he is involved should start reaping profits immediately. Buffet is a long term business believer.
Buffet doesn’t follow others. He invents stuffs that others follow. He may read books and listen to people, but when it comes to investments and buying stock, the decision is his own. Many companies have tried to replicate the successes Buffet has acquired over the years, none has come close to beating him.