"It is not necessary to do extraordinary things to get extraordinary results."
4. Buffett advises to invest in 'old economy' businesses, companies, which have been
around for fifty years and will continue to have a long innings.
5. We have often heard of people suffering heart attacks when markets crash. Well, Buffett advocates a sound temperament for stock market success.
6. You don't need to be a genius to succeed in the stock markets. People who
can stay cool will succeed in the long run. Always keep in mind the hidden costs, from commissions on active stock trading to high mutual fund fees.
7. Buffett always looks at businesses he can understand, look at the profits in the past, long-term potential of the company, good top level management of the company and companies that have a good value proposition. The strategy is to think about the business in the long term.
Image: American billionaire investor Warren Buffett wears a traditional Druze cap during a visit to Israel | Photograph: David Silverman/Getty Images
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