Warren Buffet - SIMPLE AND TRUE

Warren Buffet's advice for 2009

We begin this New Year with dampened enthusiasm

and dented optimism. Our happiness is diluted and

our peace is threatened by the financial illness that

has infected our families, organizations and nations.

Everyone is desperate to find a remedy that will cure

their financial illness and help them recover their health.

They expect the financial experts to provide them

with remedies, forgetting the fact that it is these

experts who created this financial mess.

Every new year, I adopt a couple of old maxims as my

beacons to guide my future. This self-prescribed therapy

has ensured that with each passing year, I grow wiser and

not older. This year, I invite you to tap into the financial

wisdom of our elders along with me, and become financially

wiser.

Hard work:

All hard work bring a profit,

but mere talk leads only to poverty.

Laziness:

A sleeping lobster is carried away by the water current.

Earnings:

Never depend on a single source of income.

[At least make your Investments get you second earning]

Spending:

If you buy things you don't need,

you'll soon sell things you need.

Savings:

Don't save what is left after spending;

Spend what is left after saving.

Borrowings:

The borrower becomes the lender's slave.

Accounting:

It's no use carrying an umbrella,

if your shoes are leaking.

Auditing:

Beware of little expenses;

A small leak can sink a large ship.

Risk-taking:

Never test the depth of the river with both feet.

[ Have an alternate plan ready ]

Investment:

Don't put all your eggs in one basket.

I'm certain that those who have already been

practicing these principles remain financially healthy.

I'm equally confident that those who resolve to start

practicing these principles will quickly regain their

financial health.

Let us become wiser and lead a happy, healthy,

prosperous and peaceful life.