Bernard Baruch’s 10 Rules of Investing

You want someone to emulate?

Bernard Baruch (August 19, 1870 – June 20, 1965) was the son of a South Carolina physician whose family moved to New York City when he was eleven year old. By his mid-twenties, he is able to buy an $18,000 seat on the exchange with his winnings and commissions from being a broker. By age 30, he is a millionaire and is known all over The Street as “The Lone Wolf”.

In his two-volume 1957 memoirs, My Own Story, Baruch left us with the following timeless rules for playing the game:

“Being so skeptical about the usefulness of advice, I have been reluctant to lay down any ‘rules’ or guidelines on how to invest or speculate wisely. Still, there are a number of things I have learned from my own experience which might be worth listing for those who are able to muster the necessary self-discipline:”

1. Don’t speculate unless you can make it a full-time job.

2. Beware of barbers, beauticians, waiters — of anyone — bringing gifts of “inside” information or “tips.”

3. Before you buy a security, find out everything you can about the company, its management and competitors, its earnings and possibilities for growth.

4. Don’t try to buy at the bottom and sell at the top. This can’t be done — except by liars.

5. Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.

6. Don’t buy too many different securities. Better have only a few investments which can be watched.

7. Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects.

8. Study your tax position to know when you can sell to greatest advantage.

9. Always keep a good part of your capital in a cash reserve. Never invest all your funds.

10. Don’t try to be a jack of all investments. Stick to the field you know best.

Baruch would later go on from Wall Street to Washington DC as an advisor to both Woodrow Wilson and to FDR during World War II.

Later, he became known as the Park Bench Statesman, owing to his fondness for discussing policy and politics with his acquaintances outdoors.

He lived til a few days shy of his 95th birthday in 1965. You could do worse than to invest and live based on these simple truths.


Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.

What's been said:

Discussions found on the web
  1. dapperq wedding rings commented on May 06

    dapperq wedding rings

    […]very couple of internet sites that come about to become in depth below, from our point of view are undoubtedly very well worth checking out[…]

  2. Coyote brown army boots commented on May 08

    Coyote brown army boots

    […]just beneath, are various entirely not connected sites to ours, however, they may be surely really worth going over[…]

  3. wedding videography tips dslr commented on May 08

    wedding videography tips dslr

    […]the time to read or check out the content or internet sites we’ve linked to below the[…]

  4. budget wedding quezon city commented on May 08

    budget wedding quezon city

    […]that may be the finish of this write-up. Here you will uncover some internet sites that we believe you’ll appreciate, just click the links over[…]

  5. silicone vibrator commented on May 08

    silicone vibrator

    […]Here is an excellent Weblog You might Obtain Exciting that we Encourage You[…]

  6. Vcaps- Empty capsules commented on May 08

    Vcaps- Empty capsules

    […]just beneath, are a lot of totally not associated websites to ours, on the other hand, they’re surely really worth going over[…]

  7. new york yellowpage commented on May 09

    new york yellowpage

    […]that would be the end of this article. Right here you’ll discover some web pages that we feel you will appreciate, just click the hyperlinks over[…]

  8. drug treatment and alcoholism commented on May 09

    drug treatment and alcoholism

    […]Here is a good Blog You might Uncover Interesting that we Encourage You[…]

  9. men clothings online commented on May 09

    men clothings online

    […]the time to study or visit the content material or web sites we’ve linked to beneath the[…]

  10. women's health commented on May 09

    women’s health

    […]below you will find the link to some sites that we think you should visit[…]

  11. Cheap Jordans Online Store commented on May 10

    Cheap Jordans Online Store

    […]the time to read or go to the content or web pages we have linked to below the[…]

  12. cock ring commented on May 10

    cock ring

    […]always a significant fan of linking to bloggers that I appreciate but really don’t get a whole lot of link enjoy from[…]

  13. work from home 2017 commented on May 10

    work from home 2017

    […]just beneath, are many completely not associated internet sites to ours, however, they are certainly worth going over[…]

  14. wedding bouquet nj commented on May 10

    wedding bouquet nj

    […]Every once inside a though we choose blogs that we read. Listed beneath are the most current internet sites that we select […]