Save this. This will make you a multi-millionaire. Everything you need to know. Before you buy, when to sell, and when NOT to sell. 1. Before you buy, ask 4 questions: • do you understand the business? • does it have a moat? • is management honest? • is the price reasonable? If any answer is no, move on. There are thousands of other stocks. ------- 2. When your stock drops 10% after earnings, ask 1 question: • did the business change, or did the price change? If the business did NOT change, buy more. The market just handed you a discount. That is what Buffett did with American Express, Bank of America, and Apple. Every single time. If the business DID change, re-evaluate. That is why he sold IBM and airlines during COIVD. ----- 3. When to sell: • the moat is gone • management is dishonest • you found something better Those are the only 3 reasons. ----- 4. When NOT to sell: • because the price dropped • because your timeline is full of fear • because someone on X said "it's over." Those are never reasons to sell. Never. ----- 5. What he never does: • panic sell • time the market • chase momentum • overtrade He held through 2008 (-32%), 2020 (-25%), and 2022 (-5%). He avoided Dot-Com momentum, crypto, meme stocks, and SPACs. Fewer than 20 decisions over 60 years made most of his wealth. The edge is not intelligence. It is patience.