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This criterion for an entrepreneur indicates the importance of predicting events in advance to take advantage of opportunities.
famous american investor, Warren BuffettHe is one of the most successful businessmen in recent times, and thanks to this, he is also known for his advice Avoid business failure.
In this framework, there are already many principles announced by Buffett that have already become known and applied by many investors, but there is one fundamental in his vision about Risk preventionwhich It does not have much spread.
Warren Buffett
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Warren Buffett’s Secret Rule
is the so-called Noah’s Base. This billionaire-applied principle is based on the biblical figure of Noah and his ark, and aims to provide the knowledge to avoid risk in both investments and leadership.
This principle, according to Buffett, allows “predict rain” those who apply it accurately. In fact, the phrase “Forecast the rain doesn’t matter, build a ship” is one of the billionaire’s least famous quotes, which can be found in Berkshire Hathaway 2001 Annual Report for Shareholders.
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With this phrase and this rule, Buffett wanted to explain a huge mistake that was latent in that year and which was realized with the dramatic events of September 11th. The investor had predicted many events in the market before that fateful day. but, He failed to put his ideas into practicethus violating his Noah rule, as the rain came as expected, but he forgot to build an ark.
This rule aims to recognize the importance of being prepared for it Business and market downturns are inevitable. They are trying People expect crises Thus invites them to focus on building solid “ship”in order to position himself and take advantage of opportunities.
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