What do Warren Buffett and Winston Churchill have in common? Other than being famous, portly white dudes who have looked old since they were 30? It’s their ability to put great life advice into a pithy quote.
Here are three good ones from Warren Buffett (out of a list of 34 in this article) that are new to me.
- “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.” – Warren Buffett
Kristi’s translation: Be patient with your investments. Just because your fund purchase lost money in the first year you owned it doesn’t make it a bad choice. If your process was sound in making the decision, give the market time to do what it does in the long term. As in, 10 years, not 10 months.
- “Cash combined with courage in a time of crisis is priceless.” – Warren Buffett
Kristi’s translation: Keep an emergency fund on hand to support you in case of job loss or unexpected expense. Or, maybe even to buy investments while the market is down! You know, buy low, sell high.
- “Beware the investment activity that produces applause; the great moves are usually greeted by yawns.” – Warren Buffett
Kristi’s translation: Stay out of Crypto.
