Warren Buffett: 10 pieces of investment advice from America's greatest investor

Warren Buffett, the greatest investor of the past century, celebrates his birthday Aug. 30. Here is some of his best investment advice. 

3. 'Our approach is very much profiting from lack of change rather than from change. With Wrigley chewing gum, it's the lack of change that appeals to me. I don't think it is going to be hurt by the Internet. That's the kind of business I like.'

Matt Kryger/The Star/AP/File
Buffett, chairman, president, and CEO of Berkshire Hathaway, delivers an address during the official ribbon cutting and opening of GEICO's new call center in Carmel, Ind., in July.

Source: Businessweek (1999)

A look at Berkshire Hathaway's portfolio bears out this bit of advice: The firm invests primarily in companies that have been around a long time and can be explained in a brief sentence: Dairy Queen sells ice cream, GEICO sells insurance, and so on. 

Buffett's relationship with GEICO dates back to 1952, when he discovered that one of his investment idols, Benjamin Graham, sat on the company's board. During an attempt to meet Mr. Graham, Buffett had a chance meeting with then-GEICO vice president Lorimer Davidson, and the two became lifelong friends.  

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Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

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