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. دوربین مدار بسته پویابین commented on Aug 31

    دوربین مداربسته

    Hi there there! Do you know if they make any plugins to help with Research Engine Optimization? I’m attempting to get my site to rank for some focused search phrases but I’m not looking at very great benefits. If you know of any remember to share. Reco…

  2. نصب و اجرای دوربین مداربسته commented on Aug 31

    دوربین مداربسته

    Hi would you head stating which weblog platform you are doing work with? I’m organizing to start off my very own website before long but I’m possessing a difficult time determining amongst BlogEngine/Wordpress/B2evolution and Drupal. The cause I ask is…

  3. کمد commented on Sep 01

    کابینت آشپزخانه

    Right now it looks like Movable Kind is the prime blogging system out there right now. (from what I have study) Is that what you are making use of on your site?

  4. pc games for windows xp commented on Sep 03

    pc games for windows xp

    […]just beneath, are several absolutely not related sites to ours, however, they are certainly really worth going over[…]

  5. #channelling commented on Sep 03


    […]that will be the finish of this report. Here you’ll locate some internet sites that we assume you will enjoy, just click the hyperlinks over[…]

  6. free download for windows 7 commented on Sep 03

    free download for windows 7

    […]Here is a superb Blog You may Locate Intriguing that we Encourage You[…]

  7. melted chocolate commented on Sep 03

    melted chocolate

    […]Every after in a though we select blogs that we read. Listed below would be the latest web-sites that we pick out […]

  8. free download for windows 8 commented on Sep 04

    free download for windows 8

    […]check below, are some totally unrelated internet sites to ours, however, they are most trustworthy sources that we use[…]

  9. free download for windows pc commented on Sep 04

    free download for windows pc

    […]here are some links to web sites that we link to due to the fact we feel they are worth visiting[…]

  10. نصب و اجرای دوربین مداربسته commented on Sep 04

    دوربین مدار بسته

    Compose much more, thats all I have to say. Literally, it would seem as however you relied on the online video to make your point. You certainly know what youre chatting about, why squander your intelligence on just posting movies to your internet site…

  11. laptop app commented on Sep 04

    laptop app

    […]Wonderful story, reckoned we could combine a handful of unrelated data, nonetheless genuinely really worth taking a look, whoa did one learn about Mid East has got additional problerms at the same time […]

  12. apps for pc download commented on Sep 04

    apps for pc download

    […]Every after in a whilst we decide on blogs that we read. Listed beneath are the most recent web-sites that we select […]

  13. فروش دوربین های مدار بسته مخفی commented on Sep 05

    دوربین مدار بسته

    Hello would you head stating which weblog platform you are working with? I’m preparing to begin my very own site quickly but I’m obtaining a hard time selecting between BlogEngine/Wordpress/B2evolution and Drupal. The purpose I question is due to the f…