Warren Buffet’s advice for 2009

 

1. Hard work : All hard work bring a profit, but mere talk leads only to poverty.

2. Laziness : A sleeping lobster is carried away by the water current..

3. Earnings : Never depend on a single source of income. [At least make your Investments get you second earning]

4. Spending : If you buy things you don’t need, you’ll soon sell things you need.

5. Savings : Don’t save what is left after spending; Spend what is left after saving.

6. Borrowings : The borrower becomes the lender’s slave.

7. Accounting : It’s no use carrying an umbrella, if your shoes are leaking.

8. Auditing : Beware of little expenses; A small leak can sink a large ship.

9. Risk-taking : Never test the depth of the river with both feet. [ Have an alternate plan ready ]

10. Investment : Don’t put all your eggs in one basket.