Hold on to what you have right now

In 1998, Warren Buffett’s speech emphasized that the ultimate logic of wealth is: “Get rich just once—then keep it.”

He pointed out that most people don’t fail because they can’t make money, but because they repeatedly lose money. True wealth experts first protect the wealth they already have, and then slowly grow it. Keeping the principal and avoiding blindly chasing higher prices and leverage is the key to building wealth.

Many times, getting rich 10 times isn’t enough to cover a single loss.

You don’t need to envy what others invest in to make money—doing the same thing may not be your strength. Don’t make money beyond your understanding.