In a recent interview with Yahoo Finance, legendary investor Warren Buffett shared sage advice on investing and life. Here are some highlights:
- “By far, the best investment you can make is in yourself,” says Buffett, noting the importance of communication skills for young people. “It will increase your value by 50 percent,” he said.
- “You get exactly one mind and one body in this world, and you can’t start taking care of it when you’re fifty.”
- “You want to associate with people who are better than you are…Pick carefully who you want to emulate.”
- The biggest mistake investors make, according to Buffett, is that “they think because you can trade you should trade,” adding that “moving around is not smart in investing.”
How does Warren Buffett define success? “If you get to be 65 or 70 and the people you want to have love you actually do love you, you’re a success.”