Chapter 2 of The Winning Investment Habits of Warren Buffett & George Soros:
The Seven Deadly Investment Sins
The Seven Deadly Investment Sins are widely-held beliefs about investing that are hazardous to your wealth. Beliefs that Master Investors like Warren Buffett and George Soros emphatically do not share.
For example, what’s the main topic of the investment section of the newspaper — or any financial TV program? What the market’s going to do next.
This is an expression of what the author of The Winning Investment Habits of Warren Buffett & George Soros calls “The First Deadly Investment Sin: You have to predict the market’s next move to make big returns.”
Not true. As George Soros himself puts it: “My financial success stands in stark contrast with my ability to forecast events.” And Buffett? He simply couldn’t care less about what the market might do tomorrow.
Another common belief is that to make big investment profits you have to take big risks. Yet both Warren Buffett and George Soros are highly risk-averse. Paradoxically, when they invest they’re far more concerned about not losing money than about making it.
These are just two of the many traits these Master Investors share that fly in the face of the conventional investment wisdom.
Do you unwittingly subscribe to any of the Seven Deadly Investments — any one of which could be costing you a bundle of money?
To find out read Chapter 2 of this path-breaking book, The Winning Investment Habits of Warren Buffett and George Soros just tell us where to send it…