Back Two investing rules that baseball legend Alex Rodriguez learned from billionaire investor Warren Buffett
Alex Rodriguez, who forayed into entrepreneurship after retiring from Major League Baseball (MLB) in 2016, recalled the advice that ace investor Warren Buffett gave him after the baseball star signed a 10-year contract worth $252 million in 2000. Since his retirement in 2016, Alex Rodriguez, is now a baseball broadcaster and CEO of investment firm A-Rod Corp.
In an interview with Bloomberg TV, A-Rod said Buffett had shared rules for investing that he still remembers.
Rule Number one of investing
Never lose money
Rule Number two of investing
Don’t forget rule number one.
Alex Rodriguez has advised investors to park their money in US short-term debt. “I would keep it in T-bills right now,” said Rodriguez in an interview with Bloomberg TV
A-Rod is involved in various business ventures. However, Rodriguez’s career is also mired in controversy.
Warren Buffett is one of the most successful investors in the world. Apart from being one of the wealthiest self-made men, he is also a virtual university when it comes to learning investment strategy.
10 evergreen lessons from Warren Buffett for your investment journey
1)It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
2)Time is the friend of the wonderful company, the enemy of the mediocre. Time in the market is more important than timing the market
3) If you are uncomfortable with the asset class that you have picked, then chances are you will panic when others panic,
4) Invest in what you understand
5) Diversification is good but only up to a point
6) Always take a very long-term approach to investing in equities
7) Treat stocks the same way as you would treat a bargain sale of furniture.
8) Investors should devote a good part of their day to reading. That is the only way to understand new trends and get new ideas
9) The earlier you start off on equities the better
10) When you make a loss it is time to seriously introspect what is wrong and avoid these mistakes for the future.