Six Rules from Six of the World’s Top Investors & CEOs
If you want success in trading and investing or to become a business leader, it helps to take heed of the advice of some of history's most successful wealth creators.
There is no such thing as blind luck when it comes to investing. Success requires strategy, determination, grit, and no shortage of business savvy.
While the prospect of diving into trillion-dollar financial markets might seem intimidating for beginners, it’s worth remembering that even the greats had to start somewhere. If you’re looking for advice and inspiration to take with you into your investing and trading career, here are some nuggets of wisdom from some of the most successful business minds in history.
1. Philip Fisher: “The stock market is filled with individuals who know the price of everything and the value of nothing”
The world-famous investment guru whose books are read by Warren Buffet has plenty of advice for beginner traders, and this is one of his most enduring quotes. It speaks to the need for traders to learn that successful trading is about education and thorough research, rather than just following market trends. As this comprehensive guide on how to buy shares for beginners explains, knowing when to buy and sell stocks requires the kind of research that allows you to see the bigger picture.
2. Mark Zuckerberg: “The only strategy that is guaranteed to fail is not taking risks“
Facebook CEO and tech billionaire Mark Zuckerberg has also been a staunch proponent of the need to take risks in business. The world is constantly changing, and today’s sure thing will be tomorrow’s Blockbuster or MySpace. Staying still and refusing to venture out of your comfort zone will not bring you any returns, so do not be afraid of risks.
3. Robert Arnott: “In investing, what is comfortable is rarely profitable“
The American entrepreneur Robert Arnott manages over $195 billion in assets for Wall Street’s largest companies, so it’s safe to say he knows a thing or two about investment strategies. With this quote, Arnott is emphasising the importance of keeping an eye out for new opportunities, rather than putting all of your eggs in a safe and comfortable basket.
4. Warren Buffett: “Be fearful when others are greedy. Be greedy when others are fearful”
Warren Buffet is widely regarded as the world’s most successful trader and investor, and his words are closely followed by Wall Street acolytes to this day. With this widely-reproduced quote, Buffet is stressing the importance of keeping an eye out for bubbles, as well as being ready to snap up a bargain when the markets are down and everyone else is playing it safe.
5. John Templeton: “The four most dangerous words in investing are: ‘this time it’s different‘”
John Templeton was described by Money Magazine as “the greatest stock picker of the century“, owing to his ability to spot billion-dollar opportunities long before anyone else. With this quote, he reminded would-be traders that the market, for all its volatility, moves in cycles. If you can’t spot a bubble when it is staring you in the face, then you’re committing a cardinal sin in the world of trading.
6. John D. Rockefeller: “The person who starts simply with the idea of getting rich will not succeed. You must have a larger ambition”
Where better place to end than with these wise words from Mr. Rockefeller himself, who is often considered to have been the richest person ever to have lived thanks to his savvy and shrewd business approach. Here he is emphasising the crucial importance of values when it comes to investing. There is no such thing as a ‘get-rich-quick’ scheme. Rather, success comes from true ambition and goals that go far beyond adding some extra zeros to your bank account.
With these pearls of wisdom, you are ready to begin your trading and investing journey.