Warren Buffett: How to Make Money Investing in 2024

Warren Buffett’s late business partner and friend Charlie Munger used to have a saying about investing: “It’s not supposed to be easy. Anyone that thinks it's easy isn’t paying attention”. This saying is more true now in 2024 than ever before.

Today’s stock market is treacherous to put it mildly. The stock market has soared in price with both the S&P 500 and the NASDAQ ripping to all time highs as of the making of the video. Based on the high prices in the stock market, you would think that everything is perfect in the economy. However, this couldn’t be further from the truth. Inflation and interest rates remain stubbornly high. Companies are announcing mass layoffs

Investing is never easy. Especially now. So how can you invest successfully given all the challenges facing the stock market and the economy? Fortunately for us, legendary investor Warren Buffett recently laid out the secret of how people should be investing in 2024. Earlier this year, Buffett published his closely followed Berkshire Hathaway annual letter. Buffett uses this letter as a way to share what’s on his mind on a wide range of topics. But what really got my attention, and what you should be paying attention to, is Buffett’s hidden message for how you should be investing right now with all the craziness in the stock market. In this video, we’re going to cover Buffett’s advice for investors in 2024, Buffett’s thoughts on how to prepare for a potential stock market crash, and how you protect yourself financially regardless of what happens in the economy. Let’s get into it.

In this year's letter, Buffett provided essentially a checklist of what he looks for in a potential investment in the year 2024. The first item on that list is that the business has to have what is referred to as a “moat”. Here’s how Buffett described it in the letter: “Our goal at Berkshire is simple: We want to own either all or a portion of businesses that enjoy good economics that are fundamental and enduring. Within capitalism, some businesses will flourish for a very long time while others will prove to be sinkholes. It’s harder than you would think to predict which will be the winners and losers. And those who tell you they know the answer are usually either self-delusional or snake-oil salesmen". The most important words in this paragraph from Buffett are “fundamental and enduring”. One of the biggest mistakes investors make is thinking that just because a company is growing rapidly and incredibly profitable right now, that those favorable characteristics will continue on indefinitely into the future. However, this often turns out to not be the case. A perfect example of this is the car company General Motors. In the year 1998, General Motors was number 1 on the coveted Fortune 500 list. The company was one of the most profitable businesses in the world.

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