SOURCE: Pulse Nigeria (abridged).

These 7 investment tips from Warren Buffett is exactly what you need to make money in 2019

Who better to get money advice from than one of the wealthiest people in the world? Warren Edward Buffett, chairman and CEO of Berkshire Hathaway, is currently the third richest man in the world. As of January 11, 2019, the CEO of Berkshire Hathaway is worth $81.1 billion (as estimated by Forbes).

Asides being a billionaire, he is also known as the "Oracle of Omaha" for being one of the most successful investors of all time.
Another thing he is really good at is dishing out amazing money/investment advice. Over the years, Buffet has shared numerous of these.

Here are seven of his investment tips that will help you to make money in 2019:

Rule №1: Never lose money.

Rule №2: Never forget rule №1.

What's the point of investing if all you do is lose money? Makes no sense, right? This is why Buffett warns against being frivolous or gambling. Take calculated risks instead, in order to reduce your chances of losing money.

Rule №3: Never invest in a business you cannot understand.

It’s common knowledge that Buffett always does his homework before deciding to invest in any business. As such, he invests only in companies he has thoroughly researched and understands. That way, he knows exactly what he is getting into. You should definitely do the same.

Rule №4: Never depend on a single source of income. Make investments to create a second source.

In other words, do not put all your eggs in one basket.

Rule №5: You don't need to be an expert in order to achieve satisfactory investment returns. He shared this advice in his 2013 annual letter to his company's shareholders. "Keep things simple", he adds.

Rule №6: Focus on the future productivity of the asset you are considering.

Buffett also says, "Omniscience isn't necessary; you only need to understand the actions you undertake."

Rule №7: Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important.

These last three are part of Buffet's fundamentals of investing.

Author: Inemesit Udodiong.
Source: Pulse Nigeria.

Thanks for this piece!