The basic concept of his advice revolves around focus. Under those rules, you’d think really carefully about what you did, and you’d be forced to load up on what you’d really thought about. And once you’d punched through the card, you couldn’t make any more investments at all. Since at least the 1990s, when giving college students advice on how to get rich, Buffett has often said, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it-so that you had 20 punches representing all the investments that you got to make in a lifetime. This bit of advice is something that Warren Buffett has often repeated, but doesn’t get much coverage in the media, despite its extraordinarily profound implications. A rule he said that’s not just about getting rich, but can be applied to all aspects of life. ![]() In a lecture given to MBA students Buffet introduced them to one of his golden nuggets of advice, his 20-slot rule. Such advice is common from Warren Buffett, an American investor, business tycoon, and philanthropist. ![]() Many times, we find that the best advice is simple, straight forward, and easy to understand.
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