"You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right."
8. Invest in businesses with great management. Always keep a track of the
management of the company. The top decision makers have a lot to do with
the company's performance.
9. One of Buffet's biggest strengths is independent thinking. Many people go
by what the experts says or what others do but belief in one's own
judgement is the key to stock market success.
10. Patience pays, says Buffet. He says one must not worry too much about the
price of the stocks. What's more important is the nature of business of
the company, earnings capability and its future potential.
11. Don't target just stocks, look at businesses. How a company performs is
key to its stock market performance. You must know the track record of a
company before you invest in it.
Image: Warren E. Buffett waves to the gallery at the New York Stock Exchange| Photograph: Mario Tama/Getty Images
Also read: Success mantras from a world champion
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