Key Points I learn from Warren Buffett Letter

I’ve just read Warren Buffett letter to shareholder, I learn very greatful things following:

1. Treat all shareholders equally. So do not hold discussions with analysts or larger institutions.
2. Stocks own based on expectations about their long-term business performance and not because as vehicles for timely market moves. (Charlie and Warren Buffett are not stock-popeeickers; they are business-pickers).
3. Integrity and capital will forever be important.
4. Your company to be financially impregnable and never dependent on kindness of strangers.
5. Built company like to sleep soundly, and related party as well.
6. Cash is very powerfull, opportunity comes when nobody knows.
7. Increase long term earning power through internal growth. Internal opportunities deliver far better returns than acquisitions.
8. Don’t overpay for the companies, it would be value-destroying.
9. Do what you enjoy. (Warren Buffett taught his first investing class 70 years ago. Since then, He have enjoyed working almost every year with students of all ages, finally “retiring” from that pursuit in 2018).
10. Find what you love to do. Work with people whom you “Like and Trust”.

Source: https://www.berkshirehathaway.com/letters/2021ltr.pdf

“The stock market is a device for transferring money from the impatient to the patient”

~Warren Buffett

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