Warren Buffett's Timeless Lessons for First-Time Indian Investors

Never stop learning

No amount of investment in stock can out perform a person who invests in educating himself. The more you know about the things that you are interested in whether it is a stock or a business the more valuable and competent you become. Investing in learning makes you more valuable and just like money it compounds over time which pays off huge dividends. Always pursue knowledge and never stop learning new and interesting things.

"The most important investment you can make is in yourself. The more you learn, the more you'll earn."

Be Patient

As share market investor we have all come across this behaviour more often than not. Just a little disturbance in the market the whole market would dump their stocks in order to cover their losses only to realise the event has no impact on the stocks and regret selling it in the place. A great investor is the one who can keep her/his emotions in check and no budge in face of adversity. you would often find them buying stock when everyone is selling out of fear and selling when everyone is enthusiastic about buying at high price. They are consious about both their emotions and logic and won't let emotions dictate where logic should prevail i.e the share market.

"The stock market is a device for transferring money from the impatient to the patient."

Do not lose

"Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1."

Stay in limits

"Never invest in a business you cannot understand."

"Be fearful when others are greedy, and greedy when others are fearful."

"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

"Someone is sitting in the shade today because someone planted a tree a long time ago."

"The difference between successful people and really successful people is that really successful people say no to almost everything."

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."

"Take a job that you love. I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume."

"Read 500 pages a day. That's how knowledge works. It builds up like compound interest."