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Warren Buffett is the most famous investor in the world. He's worth 90 billion dollars. How did he get so rich? What is going on in his head? Let's take a look. Hi, I am Markus Heitkoetter and I help people to make more money, have more time, and have more fun in their lives. People come to me because they feel stuck in their lives and they want to know what exactly I did to become a multimillionaire, who is now travelling the world and enjoying life.
When I'm in my live events, I ask people 'who is the most famous investor in the world?' The answer is always Warren Buffett. His net worth is 90 billion dollars so he's doing something right. How did he get so rich? Here are the five best quotes from Warren Buffett that reveal how he thinks. Number five: Be fearful when others are greedy and be greedy when others are fearful.
This is one of the core principles of Warren Buffett's investment strategy and I like it a lot. The idea is to buy when everybody else is panicking and to sell when everybody thinks 'This is awesome!' I am using this principle for my real estate investing and you see, right now prices for houses are at an extreme high here in Austin.
I own two apartment complexes that I bought three years ago and I am selling them right now when everybody thinks that this is a great investment opportunity. Do the same with trading stocks. I always say if your Uber driver tells you about a stock, it's time to sell. So, be fearful when others are greedy and greedy when others are fearful.
Number four: It is not necessary to do extraordinary things to get extra ordinary results. You don't have to be a genius! Focus on being consistent. You've heard the saying, 'A Journey of a thousand miles begins with a simple step' and then you take the next one and another one and I'm using this principle in my trading.
I am aiming for small but consistent profits. To me, consistent profits are more important than windfall profits that might occur every few years. Think about a football game. How do you win a football game? By moving the ball consistently towards the goal line and not by throwing a Hail Mary every single time, right?
Number three: Risk comes from not knowing what you are doing. Always do your homework know what to expect. If you want to play a game, you need to know the rules of the game first, right? If you're anything like me, I am actually looking up this strategy for a game before I play it. As an example, recently my kids wanted to play Clue with me, so I learned the rules and then I looked up the best strategy for Clue on the Internet.
And yes, I won the game! If you want to make money with trading, you should not only know the rules. The rules are simple. You actually need a strategy so that you can win the game. Number two: The difference between successful people and really successful people is that really successful people say no to almost everything.
I love this quote especially when it comes to trading. I don't know about your inbox, but every day, I am receiving emails about a new trading strategy or a new investment strategy and you see, it is important to focus and say 'no' to everything else. Pick a trading strategy that makes sense to you and then stick with it.
Don't get distracted. Focus! Keep in mind, the grass looks always greener on the other side. Why? Because It's fertilized with bullsh**! Number one: If you don't find a way to make money while you sleep, you will work until you die! This quote has changed my life. I was working as a director at IBM, slaving away 60, 70, 80 hours a week and yes, I made good money.
I had a nice six figure income but I realized that if I don't find a way to make money while I sleep, I will work for IBM or somebody else until I die. And that's why I decided to quit my job move from Munich in Germany to Austin, Texas to become a trader. These are my favorite quotes from the billionaire Warren Buffett.
Which one is your favorite quote? Did I forget a quote that you like a lot? Let me know in the comments below. I hope you enjoyed watching this video as much as I enjoyed making it for you and if you know anybody who might find this video helpful, feel free to share it and I'll talk to you soon.
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