Warren Buffett’s eight tips to avoid going broke

What do you know about Warren Buffett? The Nebraska-born son of a US congressman, Buffett has taken that not insubstantial early advantage and transformed it into a net worth of roughly $149 billion, as of February 2025.

The legendary investor is the chairman and CEO of Berkshire Hathaway, one of the most successful investment vehicles in the world. It was the first non-technology company to achieve a valuation of $1 trillion and Buffett personally owns 38.4% of the Class A voting shares.

He is often cited as a financial soothsayer and a man with an insatiable appetite for trading, despite having admitted to a real-world diet of a six-year-old. Now 94, Buffett’s investing strategies have been broken down by NASDAQ.com and converted into eight golden rules for those looking to preserve their wealth.

Buffett’s golden rules are good, solid financial advice. But not everyone has followed his words of wisdom. Buffett recalled a conversation that he had with Steve Jobs, the late co-founder of Apple. He spoke to Jobs in around 2010, shortly before his death, because the company had built up a huge stockpile of cash and Jobs was looking for an “interesting” investment idea.

Buffett was told that Jobs had “many, many, many, many billions” but wasn’t able to make “big acquisitions that required lots of money. Buffett suggested that Apple stocks were undervalued and recommended that Jobs try to buy back shares, but Jobs decided against the advice.

“He just liked having the cash,” Buffett explained. “It was very interesting to me because I later learned that he said that I agreed with him to do nothing with the cash. But he just didn’t want to repurchase stocks, although he absolutely thought his stock was significantly underpriced.”

15 years on, it looks like Buffett was right. Back in 2010 Apple stock was valued at around $7.40 per share. Now, the company’s current stock price is more than $245 per share.

Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.

Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.