Getting rich slow

Getting rich slow

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Jeff Bezos once asked legendary investor Warren Buffett, “You’re the second richest guy in the world. Your investment thesis is so simple. Why doesn’t everyone just copy you?” Buffett replied, “Because nobody wants to get rich slow.” The best way to master how to get rich slow is to read “The Intelligent Investor” a book written by Benjamin Graham in 1949. Warren referred to the book as the best money advice he ever received. Calling it the best book on investing ever written. Warren was a student of Graham’s at Columbia and later worked for him before starting his own business. Warren once said “Chapters 8 and 20 have been the bedrock of my investing activities for more than 60 years, I suggest that all investors read those chapters and reread them every time the market has been especially strong or weak.” My own take away from the chapters is the importance of learning to master value investing, which enables you to achieve satisfactory investment results over the long run with reduced risk and without losing sleep over periodic market fluctuations. Getting rich slow through intelligent investing therefore requires the discipline to never purchase far above asset value, resisting the urge to invest in glamorous growth stocks/assets and replace the mindset of a speculator with investment approach of a partner in the stock/asset you are buying.

“We don’t have to be smarter than the rest. We have to be more disciplined than the rest.” Warren Buffett

Credit: Jeff Richards. Venture capitalist ; fs.blog; The intelligent investor (youexec.com)

Tosin 'Badeniyi, PhD

Tosin 'Badeniyi, PhD

Tosin ‘Badeniyi, a Professor at the Department of Biotechnology and Food Science at Durban University of Technology, South Africa, holds a doctoral degree in Food Science from University of Pretoria South Africa. Since 2001, he has conducted research and lectured internationally in the area of food quality and safety. He is the editor of Food Science and Technology: Trends and Future Prospects and has published numerous scientific publications as well as four inspirational books.

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1 thought on “Getting rich slow”

  1. You actually make it appear really easy together with your presentation however I find this matter to be actually something which I feel I would never understand. It kind of feels too complex and extremely wide for me. I’m taking a look ahead in your next publish, I?¦ll try to get the cling of it!

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