Warren Buffett's Top Advice for Protecting Your Portfolio Before a Market Crash
The Oracle of Omaha offered priceless wisdom in 1986 that still makes sense today.
Overview
Warren Buffett is the retired CEO of Berkshire Hathaway and a legendary investor who made many billions of dollars during his long career. He is well known for his homespun wisdom and down-to-earth advice on investing. One lesson of Buffett's investing career is that managing your mindset as an investor is often more important than how much money you have.
One of my favorite Warren Buffett quotes about investing comes from his philosophy on navigating bull and bear markets. In his 1986 letter to Berkshire shareholders, Buffett said he can't predict the future and doesn't try to. He doesn't know whether the stock market is going to go up, down, or sideways. Instead, he thinks about it this way: "Our goal is more modest: we simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
Details
Let's look at three steps investors can take today to put Warren Buffett's advice to work to protect their portfolios, especially during a market downturn.
Source
Originally published at www.fool.com.