Warren Buffett: "Rule #1: Never lose money. Rule #2: Never forget rule #1."

less than 1m read

·Feb 1, 2025

Warren Buffett: The first rule of investment is: Don’t lose. And the second rule of investment is: Don’t forget the first rule. And that’s all the rules there are. I mean, if you buy things for far below what they’re worth, and you buy a group of them, you basically don’t lose money.

Goodman: Warren, what do you consider the most important quality for an investment manager?

Buffett: It’s the temperamental quality, not an intellectual quality. You don’t need tons of IQ in this business. I mean, you have to have enough IQ to get from here to downtown Omaha, but you do not have to be able to play three-dimensional chess or be in the top leagues in terms of bridge playing or something of the sort.

You need a stable personality. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls, it’s a business where you think.

And Ben Graham would say that you’re not right or wrong because a thousand people agree with you. And you’re not right or wrong because a thousand people disagree with you. You’re right because your facts and your reasoning are right.

Shipwreck From Explorer Vasco da Gama's Fleet Discovered | National Geographic

Finding the 100th term in a sequence | Sequences, series and induction | Precalculus | Khan Academy

View All

Ecosystems and biomes | Ecology and natural systems | High school biology | Khan Academy

So just as a bit of a review, if we take the members of a certain species that share the same area, we call that a population. Population, all of the organisms in this particular population will be members of the same species. There could be other member…

Simplifying hairy exponent expressions

So let’s get some practice simplifying hairy expressions that have exponents in them. We have a hairy expression right over here, and I encourage you to pause the video and see if you can rewrite this in a simpler way. All right, let’s work through this …

Protect the Grass, Save the People (and the Monkeys) | National Geographic

Everybody says grasses are food. Grasses are our clothes. There’s some ownership and some sense, you know? Everybody senses, everybody feels. When dating Wassa Wassa community conservation area, it is a special project. The director of [Music] in many wa…

Manipulating functions before differentiation | Derivative rules | AP Calculus AB | Khan Academy

What I have listed here is several of the derivative rules that we’ve used in previous videos. If these things look unfamiliar to you, I encourage you maybe to not watch this video because in this video we’re going to think about when do we apply these ru…

Warren Buffett: How To Profit From Inflation (feat. Mohnish Pabrai)

We’re seeing very substantial inflation. It’s very interesting. I mean, we’re raising prices, people are raising prices to us, and it’s being accepted. Take home building. I mean, you know, the cost of—we’ve got nine home builders and, in addition to our …

Crossing a Snow Packed River | Primal Survivor

The big danger here is I could fall through, and depending on how deep it is, if it’s deep, that river could suck me under the ice. So, I’ve got to come up with a plan. This is where a little bit of, uh, mountaineering strategy comes in. Get my snow shov…

Warren Buffett: "Rule #1: Never lose money. Rule #2: Never forget rule #1."

More Articles