Warren Buffett’s Advice (Berkshire Hathaway AGM)
Every year, thousands of Berkshire hathaway shareholders flock to listen to the Warren Buffett at the AGM. This year, due to the Covid-19 restrictions, it was a ‘virtual event’.
Here are a couple of clips, that I think contain good advice for any DIY-Investor…
Being a “farmer”…
Particularly relevent IMO is the section, where Buffett states…
So if you had that farm, and your neighbor offered you $2,000 an acre on Monday, $1,200 an acre the next day, and maybe then $800 an acre the day after, that shouldn’t change your evaluation of the farm’s potential.
“Are you going to let this guy drive you into thinking: ‘I better sell because this number keeps coming in lower all the time?’” he said.
Bringing the right psychological approach to owning common stocks is important: Betting on that farm may be better than listening to the neighboring farmer
On handling fear…
Do Your Own Research (DYOR)!
Mick (7th May 2020)