[INFOGRAPHIC] 10 Financial Lessons We Can Learn from Warren Buffett
Financial literacy—the ability to manage your money for long-term prosperity and well-being—is a key skill that people must learn. In Australia, the government encourages this type of education through the National Financial Literacy Strategy. One area of financial literacy that is still underserved however is investment in the stock market.
Many of us are already doing it, and doing it right. However, many more of us are not doing it at all or are doing it poorly. For the former, we’re not maximizing our money’s potential and for the latter we are experiencing frustration. This would be different if more successful investors shared their wisdom about how to invest wisely. However, many of these individuals feel like their wisdom is too hard-earned and would rather keep it private. Not everyone, however. One world-renown investor who is known for sharing his knowledge is the American Warren Buffett, also known as the Oracle of Omaha.
In the infographic below, some of Buffett’s most valuable financial lessons are artfully laid out by designer Jeff Desjardins.
When it comes to investing in the stock market, one of Buffett’s cardinal rules is to own your investment. Not just put your money in it, hope it climbs in price and walk away until you can make a profit of it. No, instead invest and think of yourself as an owner of the company.
The visual aid also tackles Buffett’s beliefs about risk-taking. It turns out that, despite our affinity for adventure movies, in general, Homo sapiens is averse to risk-taking. Many of us invest in bonds, banks and gold instead of stock because we think they’re safe. Buffett however, thinks that stocks outperform all of these and are safer too.
Related Story: The Future of Money is Mobile
Related Story: Bad hires cost your business money
Timeline: India takes unicorn leap with six in five days
We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.
April 5: Meesho
India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.
April 6: CRED
Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.
April 7: API Holdings / Groww
The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.
April 8: ShareChat
New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.
April 9: Gupshup
AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels.