Question

Review the Warren Buffett list below for personal wealth accumulation (Links to an external site.) and then review the video below. In no less than 5 sentences, what are the two key rules for accumulating personal wealth (review this in your textbook for complete answers).

https://www.youtube.com/watch?v=qdAAUQ-GnuU&feature=emb_logo

Answer 1

The two key rules for accumulating personal wealth are as follows:

1) Do not leverage as there are chances of losing money that is being used to make money rather re-invest profits. Always look at how much the other guy is making from the same investment positions and learn from the mistakes of the past.

2) Keep assessing the risk and know when to quit. Be different and have own belief. If there is a good idea, take real positions and not small ones. Always keep investing in oneself and maximize one's own talent.