The 10 commandments for investing like the genius Warren Buffett.
The 'Oracle of Omaha' has achieved an average annual return of 20% over his 60-year career, which is equivalent to turning $1,000 into $54 million.
1. Invest in what you understand
2. Buy businesses, not stocks
3. Think long term
4. Look for companies with defensive moats
5. Buy with a margin of safety
6. Avoid debt
7. Control your emotions and follow a plan
8. Ignore the noise
9. Watch out for transaction costs
10. Be patient