Warren Buffett - No 1 Billionaire

Warren Buffet, named the world riches man 2008 by Forbes with US$62 billion, make news today by investing US$5 billion in Goldman Sachs in trying to boost the confidence of the current financial market.

Saw a very interesting statement by him in today's news report and decided to share it.

"It's nice to have a lot of money, but you know, you don't want to keep it around forever," "I prefer buying things. Otherwise, it's a little like saving sex for your old age."

So stop saving your money, start spending when you feel like it. Money is earn to be spend. (Warren buffett's idea, not mine) :)

I have also compiled some very interesting quote (below) by him on investments. Hope they can enlighten you before you start putting your money into Stocks and Shares.

- "Only when the tide goes out do you discover who's been swimming naked."

- "A public-opinion poll is no substitute for thought."

- "I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."

- "If a business does well, the stock eventually follows."

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

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

- "Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."

- "Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years."

- "Our favorite holding period is forever."

- "Price is what you pay. Value is what you get."

- "Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks."

- "The investor of today does not profit from yesterday's growth."

- "Time is the friend of the wonderful company, the enemy of the mediocre."

- "We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'"

- "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

- "When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact."

- "Wide diversification is only required when investors do not understand what they are doing."

- "You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing."

- "You only have to do a very few things right in your life so long as you don't do too many things wrong."