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Warren Buffett, a stalwart in the world of investing, turns 93. This living legend, born on August 30, 1930, in Omaha, Nebraska, is known for his investment acumen and memorable advice through his company, Berkshire Hathaway. To celebrate his birthday, we distill some of his most notable investment wisdom.

9 pieces of wisdom from Warren Buffet

Remember Rule No. 1 & 2 – Never lose money, and never forget this rule. Avoid losses, and you’ve got a head start on gains.

Seize the golden opportunity – Buffett believes in grabbing opportunities with both hands. When you find a profitable opportunity, don’t just dip your toes in – dive in headfirst.

Be a contrarian – “Be fearful when others are greedy and greedy when others are fearful.” Buffett’s mindset is to swim against the current, finding value where others see none and caution where others are overly enthusiastic.

Quality over price – Rather than hunting for a bargain, Buffett emphasises the significance of investing in exceptional companies at a reasonable cost.

Temperament over intellect – For Buffett, successful investing is less about sheer intelligence and more about emotional stability and keeping a clear head.

Patience pays – You don’t have to jump at every opportunity. Wait for the right pitch and strike when the time is right.

Index funds for the casual investor – If stock picking isn’t your thing, Buffett suggests index funds as a safer bet. They offer broad market exposure, reducing risk.

Inactivity can be profitable – Buffett stresses that constant trading doesn’t necessarily lead to higher returns. Sometimes, doing nothing is the best action.

Prepare for the downturns – Investing might seem smooth in bullish times, but real skill is tested when the tides turn. Always be prepared for a bear market.

As Warren Buffett ushers in his 93rd year, his advice remains relevant as ever. They serve as a guiding light for investors worldwide. Happy birthday, Mr. Buffett!