“It really is simple – just avoid doing the dumb things. Avoiding the dumb things is the most important.” Buffett
Warren Buffett’s rule #1 is “Never lose money”. Minimise stupidity. Avoid unnecessary mistakes.
If you steer clear of big setbacks, then you can rely on a couple big wins to set you up for life.
It’s that simple.
Most people can’t resist the urge to go “all in”. Most people don’t read books. Most people don’t reflect on the lessons learnt. Most people underestimate the odds of failure.
That’s why most people are not successful.
Protect your down side. Minimise stupid mistakes.
Don’t do dumb stuff.