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. Latest Rivers state news commented on Jul 01

    Latest Rivers state news

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

  2. fulton bail bond commented on Jul 02

    fulton bail bond

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless seriously worth taking a search, whoa did a single learn about Mid East has got a lot more problerms as well […]

  3. junk car buyer commented on Jul 02

    junk car buyer

    […]check below, are some completely unrelated web sites to ours, having said that, they are most trustworthy sources that we use[…]

  4. app for pc download commented on Jul 02

    app for pc download

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

  5. Raw and natural pet food commented on Jul 03

    Raw and natural pet food

    […]one of our visitors not long ago suggested the following website[…]

  6. Cream with snow algae. commented on Jul 04

    Cream with snow algae.

    […]Here is a superb Blog You might Find Exciting that we Encourage You[…]

  7. cheap hoverboard commented on Jul 05

    cheap hoverboard

    […]always a massive fan of linking to bloggers that I adore but really don’t get a great deal of link appreciate from[…]

  8. محامي أوقاف جدة السعودية commented on Jul 06

    محامي أوقاف جدة السعودية

    […]that would be the finish of this post. Right here you will obtain some sites that we feel you will value, just click the links over[…]

  9. Lesbians Long Dildo commented on Jul 06

    Lesbians Long Dildo

    […]very couple of websites that come about to become in depth beneath, from our point of view are undoubtedly properly worth checking out[…]

  10. apps download for windows 10 commented on Jul 07

    apps download for windows 10

    […]check below, are some entirely unrelated web-sites to ours, having said that, they may be most trustworthy sources that we use[…]

  11. full apps download commented on Jul 08

    full apps download

    […]check below, are some completely unrelated websites to ours, nevertheless, they’re most trustworthy sources that we use[…]

  12. buy hoverboard commented on Jul 08

    buy hoverboard

    […]just beneath, are several completely not associated websites to ours, on the other hand, they are surely really worth going over[…]

  13. Managed Service Provider Michigan commented on Jul 10

    Managed Service Provider Michigan

    […]here are some links to websites that we link to because we believe they may be really worth visiting[…]

  14. تبلیغ در گوگل commented on Jul 10

    تبلیغ در گوگل ادوردز

    Hello there! Do you know if they make any plugins to help with Search engine optimization? I’m attempting to get my site to rank for some qualified keywords but I’m not seeing very very good gains. If you know of any remember to share. Numerous many th…