I think these tips from Warren Buffett could help you get rich

first_imgI think these tips from Warren Buffett could help you get rich Simply click below to discover how you can take advantage of this. Warren Buffett is considered to be one of the greatest investors of all time. Over the past 60 years, he has transformed an initial investment of $100,000 (admittedly a lot of money back then) into a conglomerate worth more than $500bn.During this time, he has consistently beaten the market. When he was managing a hedge fund for his investors, Warren Buffett consistently reported returns of 20% or more per annum.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Learning from the masterWe can learn a lot from Warren Buffett’s investment style. He has developed and refined his strategy over the past six decades.As well as making hundreds of billions of dollars for his investors, he has also made plenty of mistakes during this time.However, the good news is, we can learn from these mistakes, so we don’t make them ourselves. Indeed, by following Warren Buffett’s advice, you can improve your chances of being able to make a fortune in the current stock market crash.Advice from Warren BuffettOne of the main pillars of the great investor’s strategy is to be greedy when others are fearful. He likes to buy stocks when other investors are selling, as this is often when the best deals appear.Buying stocks when the market is falling, might not seem like the best course of action. But the stock market has experienced many booms and busts over the past few decades.Each time the market has recovered. On some occasions, it has taken as much as a decade for the market to recover, although this shouldn’t be an issue for long-term investors.Avoid junkAnother Warren Buffett tip we can use to make money in the current stock market crash is to avoid junk.Sometimes, companies are cheap because they deserve to be. Just because a stock has fallen 50% in a few weeks, doesn’t mean that it is a good deal.The legendary investor has always emphasised buying quality over value. He likes to buy businesses if they are cheap, but only if they are good companies. If not, he will stay away.Warren Buffett has also been known to pay a premium to invest in high-quality businesses if they have bright growth prospects.Commodities can crush youThroughout his career, Warren Buffett has only invested in a handful of companies that earn the majority of their income from the commodities business. He likes to stay away from the sector because it is so unpredictable.No one can tell where the oil price or gold price will trade six months from now. That makes valuing commodity companies almost impossible.As such, he likes to stay away from the sector altogether. Rather than chasing unpredictable commodities businesses, he would rather invest in predictable, high-quality companies that produce sought-after consumer goods.The Warren Buffett wayWarren Buffett has made billions by investing in the stock market when others are selling. However, he’s always picked his investments carefully, and he stays away from unpredictable companies that have a lot of debt.Following the same rules could help improve your financial prospects over the long run. Image source: The Motley Fool “This Stock Could Be Like Buying Amazon in 1997” Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.center_img Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Rupert Hargreaves | Sunday, 3rd May, 2020 | More on: ^FTMC Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. 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