What is one astonishing fact about Warren Buffet?

99% of Buffett’s wealth was earned after his 50th birthday

Warren buffet started investing at age 11.

From 11 to 50 years, he spent 39 years in his investing career but only made the bulk of his wealth after age 50!

No, his 39 years won't wasted. This is the Magic of Compounding.

His investment returns are a whooping 15% and he is able to beat the SNP500 index of approx. 8% returns.

Warren Buffet understood this concept which few were able to, and with his prowess in investing, he is able to earn much much more (Billions and Billions)!

I have written a post about the magic of compounding here previously- how an average person at age 25 can earn $1m by age 55 through  investing at 4.5% returns. I still think that it is achievable.

That said, investment requires hard work- prudent investment decisions, a tad of luck, discipline and perhaps many other factors. If you are not able to read financial statements consistently, my honest advice will be to put your savings into OCBC 360 account.... its interest is good given the risk involved.

Can you resist the temptation to make money quickly? & Some quotes from Warren.Buffet

STI went up last week when US jobs data are good.
Then STI went down this week rapidly when China's economic data is bad.

These few months, the stock market has been very volatile and I spotted some speculative stocks like Noble and Ezra trading at highs and lows.

It seems that it is really quite tempting to make money quickly by buying such speculative stocks but I am strongly against such techniques as you can get your hands burnt badly.
 
Let's revisit some quotes from my super idol Warren Buffet:

1."Never attempt to make quick money on the stock market."
Sound investing can make you very wealthy if you are not in too big a hurry. Buy on the assumption that they close the market the next day and not re-open it for 5 years.

2."Buy Businesses, Not stocks"
All there is to investing is picking good companies at the right times and staying with them as long as they remain good companies. Businesses you are willing to own forever.

3."Invest in great companies"
It’s better to buy wonderful company at a fair price than a fair company at a wonderful price.

My targeted actions during this volatile period:

1. Be Patient.
Mentality of an owner, not speculator. Long term investment horizon please.

2.Read and read financial reports.
Investigate and find out Why, Why , Why and read the competitors financial reports to see where is the industry heading.
I am telling myself to spend more time on reports than Facebook.

3. Before I buy and sell, think carefully of the risks and opportunity cost first.
I made some horrible careless investment mistakes in the past and I am learning from it. Hopefully, I am much wiser now.

Good luck to all other investors there!