Learn From Warren Buffett and live a contented life

Warren Buffett is the person i admired the most. His life advice are always remembered and practiced by me. Here are some of them :

1. Give your mind some clarity.

“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.” 

2. Never forget thy business basics.

“Price is what you pay. Value is what you get.” 

3. Know what you're getting into, before you get into it.

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

4. Be smart -- and realistic.

"I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will."

5. Don't fake it till you make it.

"After all, you only find out who is swimming naked when the tide goes out."

6. Always know who you're dealing with.

"You can’t make a good deal with a bad person."

7. Act with honor and integrity.

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

8. Value what's most important.

"Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends."

9. Hit the brakes when you need to. 

“The most important thing to do if you find yourself in a hole is to stop digging.” 

10. Be bold. Be confident.

“I always knew I was going to be rich. I don't think I ever doubted it for a minute. ”  (My favorite)

Some other great advice :

"No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant."

" Wall Street is the only place where people ride to in a Rolls Royce to get advice from the people who take the subway"

"It's better to hang out with the people better than you"

"I think you are out of yours mind if you keep taking jobs that you don't like because you think it will look good on your resume .Isn't that a little like saving up sex for your old age?"

"If you've been playing poker for half an hour and your still don't know who the patsy is, you are the patsy."

"In the business world, the rearview mirror is always clearer than the windshield"

"If past history was all there was to the game, the richest people would be librarians."

"It takes 20 years to build a reputation and five minutes to ruin it. if you think about it, you will do things differently."