Warren Buffett – Rule No. 1: Never Lose Money
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.”
– Warren Buffett
Somehow, it’s always the billionaire business magnates who can keep the whole game controlled in a simple perspective. Nobody wants to lose money, and yet we never remember not to. But Buffet remembers, because money is not the objective, it’s the means – save for a few small extravagances (a private jet, a $4 million Laguna Beach home), Warren Buffett is notoriously frugal, preferring to stay in his modest Omaha home. He has a top five list of priorities, and the rest, he “avoids at all cost.” Discipline and simplicity is just how he plays the game. So how do you become the second richest man in America? Never lose money.