Warren Buffett 4 Principles
The 4 Principles of Mr. Buffet
1. "Stay within your circle of competence." Clearly much of Mr. Buffett's success has stemmed from his disciplined focus on investing in businesses that he understands and avoiding those that he doesn't. He counseled us to ask questions constantly and never assume that we have achieved "expert" status in anything.
2. There's still time for you to choose your own path; tell the truth and be independent.
One of Mr. Buffett's central messages was that success is dependent upon elective qualities, not something anyone is born with. He reminded us that we each get to choose whether or not we're dependable, honest, and compassionate.
3. There's no free lunch.
With most things in life, those who work harder and think more clearly are ultimately rewarded. If you're willing to roll the dice on a business or life decision, then you should be willing to accept a wider range of outcomes, including failure.
4. "The meaning of life is to do everything you can to make sure the people you care about love you back."