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. click for more info commented on Jul 14

    click for more info

    […]we prefer to honor a lot of other internet websites around the net, even though they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  2. site commented on Jul 15


    […]Every when in a when we choose blogs that we read. Listed below are the most current websites that we opt for […]

  3. Male Masturbator Review commented on Jul 15

    Male Masturbator Review

    […]usually posts some very interesting stuff like this. If you are new to this site[…]

  4. home page commented on Jul 15

    home page

    […]below you will locate the link to some internet sites that we consider you must visit[…]

  5. check my source commented on Jul 15

    check my source

    […]Here is an excellent Weblog You may Find Interesting that we Encourage You[…]

  6. Going Here commented on Jul 15

    Going Here

    […]Sites of interest we’ve a link to[…]

  7. he said commented on Jul 15

    he said

    […]although internet websites we backlink to beneath are considerably not related to ours, we really feel they may be in fact worth a go by, so possess a look[…]

  8. internação compulsória commented on Jul 15

    internação compulsória

    […]that could be the end of this write-up. Here you’ll find some internet sites that we feel you’ll enjoy, just click the links over[…]

  9. helpful resources commented on Jul 16

    helpful resources

    […]very couple of web-sites that transpire to be detailed below, from our point of view are undoubtedly nicely really worth checking out[…]

  10. Discover More Here commented on Jul 16

    Discover More Here

    […]we came across a cool web site that you just might enjoy. Take a search if you want[…]

  11. try here commented on Jul 16

    try here

    […]Here are some of the sites we suggest for our visitors[…]

  12. advice commented on Jul 16


    […]Sites of interest we’ve a link to[…]

  13. click now commented on Jul 16

    click now

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nonetheless really worth taking a search, whoa did one particular find out about Mid East has got extra problerms at the same time […]

  14. index commented on Jul 16


    […]below you’ll obtain the link to some web sites that we think you should visit[…]

  15. Recommended Reading commented on Jul 17

    Recommended Reading

    […]below you’ll discover the link to some web pages that we assume you should visit[…]