Warren Buffett’s Less Successful Brother Darren Buffett’s Investment Maxims
Warren Buffett’s peerless wisdom has taught and inspired millions. Now, for the first time, The Wall Street Journal reveals stunning excerpts from our exclusive interview with “The Younger, Less Rich Buffett,” “Brother to The Oracle,” “The Czar of Online Coupons,” Darren Buffett.
DARREN BUFFETT ON HERD MENTALITY
“Don’t be seduced by your emotions. You can’t get rich this way. For example, if you got hysterically optimistic about AOL, The Segway, and internet couponing site flooz.com in 1999 after seeing a delightful commercial with Whoopi Goldberg, then bad things happened to your money. I ignored the signs. I paid the price.”
ON DISASTERS
“If you’re in a leaky boat, it’s better to change vessels than patch leaks. God, that’s so true. Not sure how it relates to investing, but it’s definitely held for my marriages.”
ON THE RULES OF INVESTING
“Rule №1: Never lose money. Rule №2: Never start an investing career solely because you are young, directionless, and jealous of your brother’s wild success. Rule №3: Bernard L. Madoff is no longer my friend. Rule №4: I’m good with my hands but not very good at reading people or financial statements. I…
