Born in 1930, Warren Edward Buffett is considered the most successful investor of the 20th century. Buffett is the primary shareholder of Berkshire Hathaway and ranked as the world's wealthiest person in 2008 (net worth over 73 billion USD).

Warren Buffett Tips for Investors

1. Buy only something that you'd be perfectly happy to hold if the market shut down for 10 years. If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes.

2. I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

3. Uncertainty is the friend of the buyer of long-term values. Have the purchase price be so attractive that even a mediocre sale gives good results. The future is never clear, and you pay a very high price in the stock market for a cheery consensus. 

4. Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.

5. Limit What You Borrow: Living on credit cards and loans won't make you rich.

6. Price is what you pay; value is what you get. It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

7. I am a better investor because I am a businessman, and a better businessman because I am no investor.

8. Wide diversification is only required when investors do not understand what they are doing.

9. Reinvest Your Profits: When you first make money in the stock market, you may be tempted to spend it. Don't. Instead, reinvest the profits.

10. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

■ Warren Buffett Trading Tips

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