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Warren Buffett is one of the most astute investors
ever. By 2008 he had amassed $62 billion in
wealth to become the world’s richest person,
and is gradually giving most of it away to charities.
Warren Buffett announced in 2006, that he would
be donating his enormous fortune to charity
and 83 per cent of it has been set aside for
the Bill and Melinda Gates Foundation. In June
2006, he donated approximately 10 million Berkshire
Hathaway shares to the Foundation, which at
the time were worth approximately $30 billion,
making it the largest charitable donation ever.
The Foundation will receive 5 per cent of the
donation in July each year.
Aside from his amazing success, Warren Buffett
is the source of some of the wisest quotes on
life and investing.
Here are the Top Ten that we think can be directly
applied to the Australian investment property
market.
- “You only have to do very few things
right in your life so long as you don't do
too many things wrong.”
- “I don't look to jump over 7-foot
bars: I look around for 1-foot bars that I
can step over.”
- “Only buy something that you'd be
perfectly happy to hold if the market shut
down for 10 years.”
- “The investor of today does not profit
from yesterday's growth."
- “Our favourite holding period is forever.”
- “ It's better to hang out with people
better than you. Pick out associates whose
behavior is better than yours and you'll drift
in that direction.”
- “It is impossible to un-sign a contract,
so do all your thinking before you sign.”
- "If past history was all there was
to the game, the richest people would be librarians.”
- "I like to go for cinches. I like to
shoot fish in a barrel. But I like to do it
after the water has run out."
- “Someone's sitting in the shade today
because someone planted a tree a long time
ago."
If you would like to learn more and discuss
how McCarthy Group can assist you, click
here.
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