Billionaire Warren Buffett quotes late money manager Barton Biggs in advice for new investors
By Andrew Trotman
There’s nothing like getting a big bang for your buck, and no one knows that more than billionaire investor Warren Buffett.
The 83-year-old founder of Berkshire Hathaway, whose investments have consistently beaten the stock market over the past 50 years, shared a few tips in this year’s annual letter to shareholders, including comparing the stock market with sex.
By Andrew Trotman
There’s nothing like getting a big bang for your buck, and no one knows that more than billionaire investor Warren Buffett.
The 83-year-old founder of Berkshire Hathaway, whose investments have consistently beaten the stock market over the past 50 years, shared a few tips in this year’s annual letter to shareholders, including comparing the stock market with sex.
Mr Buffett said new investors tend to buy shares when the markets are rising and optimism is high, only to get disillusioned when prices fall.
Quoting the late money manager Barton Biggs, whose attention to emerging markets in the 1980s marked him as one of the world’s first and foremost global investment strategists, Mr Buffett added: “A bull market is like sex. It feels best just before it ends.”
He advised investors to “keep things simple” by “accumulating shares over a long period, and never sell when the news is bad and stocks are well off their highs”.
He advised investors to “keep things simple” by “accumulating shares over a long period, and never sell when the news is bad and stocks are well off their highs”.
Mr Buffett also revealed the best purchase he ever made: a copy of The Intelligent Investor, written by British-born investor Benjamin Graham.
http://www.telegraph.co.uk/
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