What we do at Maxmedia

Our passion for design goes beyond beautiful imagery and into the mind of the consumer, where we believe good design should solve problems.
- Sunday, August 14, 2011

Warren Buffett’s Ten Rules

I am a Fan and follower of Warren Buffet that is why I re-posted this from sayhellostephanie.com.

Here are some Secrets posted by Stephanie;

REINVEST YOUR PROFITS
When you first make money you will be tempted to spend it. DON’T. Instead reinvest the profits. Buffett learned this early on. In high school, he and a friend bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. Then the friends sold the venture, Buffett used the proceeds to buy stocks and to start another small business.

BE WILLING TO BE DIFFERENT
The Snowball: Warren Buffett and the Business of LifeDon’t base your decisions upon what everyone else is saying or doing. When Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors he was dubbed an oddball. He worked in Omaha, not on Wall Street, and he refused to tell his partners where he was putting their money. People predicted that he’d fail, but when he closed his partnership 14 years later, it was worth more than $100 million.


WATCH SMALL EXPENSES
Buffett invests in businesses run by managers who obsess over the tiniest costs. He once acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only the side of his office building that faced the road.

The Warren Buffett Way, Second EditionLIMIT WHAT YOU BORROW
Buffet has never borrowed a significant amount – not to invest, not for a mortgage. He has gotten many heartrending letters from people who thought that their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then when you’re debt-free, work on making and saving some money that you can use to invest.


ASSESS THE RISKS
In 1995, the employer of Buffett’s son Howie, was accused by the FBI of price fixing. Buffett advised Howie to imagine the worst – and the best – case scenarios if he stayed with the company. His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day.

KNOW WHAT SUCCESS REALLY MEANS
Despite his wealth, Buffett does not measure success by dollars. In 2008, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates foundation. He’s adamant about not funding monuments to himself – no Warren Buffett buildings or halls.

____________________________________________________________


Stephanie Deneke

Stephanie Deneke

Independent Representative at Numis Network
Greater Seattle Area 
Professional Training & Coaching
Current


Past

  • Dealership Management and Warranty Administration at Ford Motor Company

  • Realtor at Wickstra Real Estate


Education

  • Western Michigan University


Recommendations

7 people have recommended Stephanie

Connections

150 connections

Websites


Twitter


Public Profile

No comments:

Post a Comment

Let’s Talk Business.

Let us help you build your online presence by creating a website for you and help you manage it. Advertise with us through our social media network.

Address:

6457 Quirino st., Brgy. San Francisco
Panabo City, Davao del Norte, Philippines 8105

Phone:

+63946-4900543 (SMART)
+63935-1499579 (GLOBE)

Hours:

Monday - Thursday: 10am - 6pm
Friday: People work on Fridays now?
Saturday - Sunday: Best not to ask.