Showing posts with label WARREN BUFFETT. Show all posts
Showing posts with label WARREN BUFFETT. Show all posts

Wednesday, March 23, 2011

SOME ADVICE FROM MR. WARREN BUFFETT

One of Mr.Warren Buffett's business tenets is to "Never Suck Your Thumb." That means that, at a certain point, you've got to stop thinking — and start acting.

In his 1989 annual report, Buffett explained how he learned the thumb-sucking lesson the hard way: "It's no sin to miss a great opportunity outside one's area of competence. But I have passed on a couple of really big purchases that were served up to me on a platter and that I was fully capable of understanding. For Berkshire's shareholders, myself included, the cost of this thumb-sucking has been huge."

The only way to make money is by pulling your thumb out …