How do you become the richest man in the world? It’s probably not something anyone can achieve, but anyone can follow Elon Musk’s investment advice.
It seems that Tesla CEO and new Twitter owner is following an investment strategy “old schoolWhich is very reminiscent of the style of the legendary big investor Warren Buffett (although the two otherwise disagree on many).
«Because I am often asked: Buy shares in various companies that make products and services that you believe in. Only sell if you think their products and services are doing worse. Do not panic when the market panics“, Musk wrote on Twitter.
Since I’ve been asked a lot:
Buy stock in several companies that make products & services that * you * believe in.
Only sell if you think their products & services are trending worse. Do not panic when the market does.
This will serve you well in the long-term.
– Elon Musk (@elonmusk) May 1, 2022
This is a strategy reminiscent of his tactics “value investingFollowed by Buffett. As is well known, the Omaha sage only buys the shares of companies that make products that he understands and believes in. If these companies are also undervalued, then have better prospects to give good returns at long intervals.
After all, like Musk, Buffett follows his famous advice: “Be greedy when others are afraid and be afraid when others are greedy».
In March, Musk gave another investment tip, saying that to seasons of high inflation «It is generally better to own tangible things, such as a house or shares in companies that you think make good products.», Rather than holding cash positions.
Money Review
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