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Warren buffets 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 financial 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.
Mandar Gawande
(M) 09423307844
Karvy Stock Broking Ltd
Panajim Goa.
0832-2426870 - 74
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