Investors are constantly looking nuggets of wisdom from the Oracle of Omaha, Warren Buffett, so this tidbit on Omaha.com caught our eye.
It’s just one quote from Buffett. He was at a 165 person Columbia University investing class, and one of the students asked him how to prepare for a career in investing.
From Omaha.com:
…Buffett thought for a few seconds and then reached for the stack of reports, trade publications and other papers he had brought with him. (more…)
Here is some common advice that I see all the time, that if you follow it you will lose.
Don’t fall into the trap of accepting it or following it.
Here are 6 of my favorites:
1. Day trading is a low risk high reward way to trade
How many writers do you see talk about day trading and how successful they are at it?
Lots!
Now:
How many of them can show a real time track record of profits over the long term?
None.
This is simply the dumbest way to trade there is. (more…)
