Buffett Quotes

January 30, 2011 34 Comments


wealthymatters.comI have always enjoyed Warren Buffett’s quotes.I enjoy the folksy humour.I appreciate the insights.And I find they help me remember important things just when I need to.I have benefitted from sticking to his fundamentals.I thought I’d share my collection of Buffetisms with you.I will add to the list as I come across them.If you have any favourites please share them with me.I’d love to hear them.

  • “Beware of geeks bearing formulas.”
  • We’ve put a lot of money to work during the chaos of  the last two years. When it’s raining gold, reach for a bucket, not a thimble.”
  • “Derivatives are financial weapons of mass destruction.”
  • “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
  • “I am a huge bull on this country. We will not have a double-dip recession at all. I see our businesses coming back almost across the board. “
  • “I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.”
  • “The basic ideas of investing are to look at stocks as businesses, use market fluctuations to your advantage, and seek a margin of safety. That’s what Ben Graham taught us. A hundred years from now they will still be the cornerstone of investing.”
  • “Stocks are simple. All you do is buy shares in a great business for less than the business is intrinsically worth, with management of the highest integrity and ability. Then you own the shares forever.”
  • “The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage. The products or services that have wide, sustainable moats around them are the ones that deliver rewards to investors.”
  • “I won’t talk unless they bring me a price.”
  • “I can’t be involved in 50 or 75 things. That’s a Noah’s Ark way of investing – you end up with a zoo that way. I like to put meaningful amounts of money in a few things.”
  • “If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don’t need extraordinary intelligence to succeed as an investor.” Read more of this post

Filed under Paper Assets, Theory, Tidbits Tagged with , , , , , , ,

India’s 100 Wealthiest

January 30, 2011 2 Comments


Rank
 Name Net Worth ($mil)
1 Mukesh Ambani 27,000
2 Lakshmi Mittal 26,100
3 Azim Premji 17,600
4 Shashi & Ravi Ruia 15,000
5 Savitri Jindal 14,400
6 Anil Ambani 13,300
7 Gautam Adani 10,700
8 Kushal Pal Singh 9,200
9 Sunil Mittal 8,600
10 Kumar Birla 8,500
11 Adi Godrej 7,500
12 Pallonji Mistry 6,900
13 Anil Agarwal 5,500
14 Dilip Shanghvi 5,200
15 Shiv Nadar 4,700
16 Malvinder & Shivinder Singh 4,200
17 Kalanithi Maran 4,000
18 G.M. Rao 3,500
19 Uday Kotak 3,400
20 Anand Burman 3,200
21 Indu Jain 3,100
22 Rahul Bajaj 3,000
23 Subhash Chandra 2,900
24 Micky Jagtiani 2,800
25 Venugopal Dhoot 2,650
26 Rajan Raheja 2,600
27 Sudhir & Samir Mehta 2,500
28 Gautam Thapar 2,400
29 Madhusudan Rao 2,300
30 Pankaj Patel 2,050
31 Cyrus Poonawalla 2,000
32 Yusuf Hamied 1,950
33 N.R. Narayana Murthy 1,900
34 Ramesh Chandra 1,860
35 Desh Bandhu Gupta 1,850
36 Chandru Raheja 1,800
37 Ajay Piramal 1,750
38 Baba Kalyani 1,720
39 Brijmohan Lall Munjal 1,710
40 Niranjan Hiranandani 1,700
41 Nandan Nilekani 1,600
42 Shyam & Hari Bhartia 1,550
43 Senapathy Gopalakrishnan 1,500
44 Vijay Mallya 1,450
45 Rama Prasad Goenka 1,410
46 Mangal Prabhat Lodha 1,400
46 Vikas Oberoi 1,400
48 Jaiprakash Gaur 1,350
49 K Anji Reddy 1,290
50 Keshub Mahindra 1,280
51 Anu Aga 1,240
52 Naresh Goyal 1,200
53 Anand Jain 1,190
54 Vinod Goenka 1,180
55 Virendra Mhaiskar 1,170
56 Brij Bhushan Singal 1,160
57 Rakesh Jhunjhunwala 1,150
58 Murugappa Family 1,140
59 B G Raghupathy 1,130
60 Murali Divi 1,120
61 Harsh Mariwala 1,110
62 Balvant Parekh 1,100
63 K Dinesh 1,090
64 G. V. Krishna Reddy 1,080
65 Bhupendra Kumar Modi 1,070
66 Shahid Balwa 1,060
67 Mofatraj Munot 1,050
68 Ashwin Dani 1,030
69 Tulsi Tanti 1,000
70 Benu Gopal Bangur 980
71 S.D. Shibulal 925
72 Kishore Biyani 912
73 Ashwin Choksi 910
74 Manoj Tirodkar 905
75 Kiran Mazumdar-Shaw 900
76 Shobhana Bhartia 895
77 Rakesh Wadhawan 875
78 Abhay Vakil 870
79 Hemendra Kothari 860
80 Ramesh Agarwal 795
81 Gracias Saldanha 790
82 Analjit Singh 735
83 Prathap Reddy 685
84 Balkrishan Goenka 660
85 Shishir Bajaj 655
86 Kapil & Dheeraj Wadhawan 650
87 Jignesh Shah 610
88 Prithvi Raj Singh Oberoi 605
89 Bhavarlal Jain 603
90 Hemant Shah 580
91 Karsanbhai Patel 575
92 Qimat Rai Gupta 550
93 Kamal Khetan 546
94 Ashok Sarin 545
95 Shantanu Prakash 538
96 Atul Ruia 536
97 P.V.Ramaprasad Reddy 535
98 Bhadresh Shah 526
99 Bharat & Ravi Sheth 501
100 Rajju Shroff 500

This is the Forbes List of the 100 Richest Indians.The Forbes list of the World’s Richest is so well known but not this list ;so I thought of putting it up here. These  people share a common background with us.They have faced and overcome challenges many of us can personally identify with. They skilfully seize opportunities that we too could potentially capitalize on. So why not learn from them? To this effect I am on the look out for authentic material and first hand reports on these people.I’ll put them up on this blog as I find them.

A quick glance throught the list throws up some surprises:No Tatas , Wadias etc.:Some old and prestigious names are missing.There are only 5 women in the list.Ther are a total of 69 billionaires in the list.The top ten account for nearly 50% wealth of the top 100. The combined fortune of India’s 100 richest people was $300 billion.Incidentally the wealth of the top ten in the list equals 12% of India’s GDP.

Filed under Tidbits Tagged with , , , , , ,

8 Habits of Millionaires

January 30, 2011 2 Comments


 wealthymatters.comHere is a to – do- list that can make almost anyone a millionaire.The operative word is millionaire as in a person with a few crore rupees.This list does not require a person to be specially talented with money.All that is required is the will to become a millionaire and the discipline and persistence  to stick to doing small things repeatedly till you master them.You won’t get to live the life of the Rich and Famous but you and your family will be comfortable later in life.

Earn to Invest, Not Earn to Spend 

The first skill you need to master is to learn to control your impulses and delay gratification.Just force yourself to postpone buying unnecessary things for longer and longer periods .Allow yourself to buy those things only when you have saved up and invested a certain amount of money first.After a while you will find it easy to first invest money and then spend the remaining.If you have debts, force yourself to invest first , pay your  EMIs and then spend, in that order.

Have a Plan and Work the Plan

Then use this calculator https://wealthymatters.com/2011/01/26/target-crorepati/ to figure out how much you need to save and start putting it away monthly to make your first crore.To find the best interest rates refer to this post https://wealthymatters.com/2011/01/19/interest-rate/ .Now that you know how much to put aside and where you need to do it,you have your basic plan in place to become a millionaire.

Develop Many Income Streams

A  person can work only that hard and that long and only at  that many jobs in a day to make money.So its important to start acquiring assets that make you money.So ,for example, you will have to consider buying a good mutual fund or some good dividend yielding shares.

Understand your Finances

Also you need to be aware of exactly how much you are making, how much you need to save and learn to develop a budget for spending.You need to know how to evaluate how your investments are doing.For that you can take the help of this post https://wealthymatters.com/2011/01/26/cagr-calculator/ .The more you know the more you can make out of your investments and the less people can cheat you. Read more of this post

Filed under Tool Kit Tagged with , , , , , , , , , , , , ,