For Garinus BuffettA North American magnate who is in charge Berk HathawayIt’s not just about luck, but about ideas and strategies when it comes to financial matters, such as: “The difference between the successful and the most successful people is that they’re really good at saying ‘nobody’ to almost everything”; .
The word ‘no’ was generally in the strategy that Buffett published several times due, in part, to the various experiences that he had throughout his life, some of which he denied; At first they could be attractive businesses, but as far as I’m concerned, they could be dangerous.
(Why implement a financial business with a plan to be successful).
These are various examples of where Warren Buffet has told various businesses and people throughout his life; until you arrive well-earned;
‘None’ is used to acquire companies without a consolidated address
“From time to time, we will be able to buy 100% of the companies that meet our standards. We never expect to run these companies, but we hope to make a profit from them.
(On the states where the money buys many properties).
Not paying attention to annual fluctuations
According to Buffett, “we never take the number one year very seriously. After all, why does it take the time for the planet to go around the sun usually exactly in sync with the time it takes for entrepreneurial activities to pay off? But we recommend no less than five years as a rough measure of financial results.”
I trust nothing, but to be verified
“When we bought 90% of the company Nebraska Furniture Mart never had an audit and we didn’t ask for one; Do not inventory or identify accounts receivable; we do not look at the title of the facts. We gave Mrs. B a receipt of $55 million and she gave us her word. He also made a trade.’
(Such are the investments of the richest people in the world).
‘Nobody’ to die for industries
Berk Hathaway started a textile factory in the state of New England. But Buffett kept the structure, not the products. “Although the situation has improved a lot, the textile business has never become a good source of income, even in cyclical movements.”
(Elon Musk’s path to becoming one of the richest men in the world).
It is not a good business to deal with the wrong people
“After other mistakes, I’ve only learned how to deal with people I like, trust and admire. We could never do good business with a bad man.”