WARREN BUFFETT: THE SNOWBALL (BY ALICE SCHROEDER)

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Ever wondered how Warren Buffett became one of the world’s richest? Look no further. This is a video presenting the top 5 investing takeaways from Alice Schroeder’s autobiography of the man: The Snowball: Warren Buffett and the Business of Life.

A playlist that will help you in mastering Benjamin Graham’s art of Value Investing: http://bit.ly/2Txvxgd

Top 5 takeaways from The Snowball: Warren Buffett and the Business of Life:
0:00 Intro
01:25 1. The Power of Compounding Income
04:29 2. Be Very Skeptical of “New Paradigms”
07:17 3. Stay Within Your Circle of Competence
09:22 4. Use a Margin of Safety
12:03 5. Invest Where There is a Toll Bridge

TL;DW:
Compound interest is probably the most powerful wonder that you can access in order to become a millionaire and succeed in your investing. Use it to your advantage.
Be very careful about new paradigms. If it sounds too good to be true, it is probably a bubble. The market is a voting machine in the short run and a weighing machine in the long run.
One of the best investing strategies both for beginners and advanced investors, is to stay within your circle of competence. Rule 1 in investing is to not lose money.
As Warren Buffett has found out – and as Benjamin Graham taught him in his early career – it is easy to become rich as long as you insist on buying businesses that are worth $1, but that only costs $0.5. Use a margin of safety in all your investments.
Companies listed on the stock markets are subject of tough competition – especially if they have high return on capital. Therefore, you should only invest in stocks that possess a competitive advantage – that is likely to persist in the future.

My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.