Trying to avoid risks and preserve principal is the secret of Buffett's success. is correct.

Warren E. Buffett, male, born on August 30, 1930 in Omaha, Nebraska, USA, Master of Economics, world-famous investor, main investment types There are stocks and fund industries. Currently Chairman and CEO of Berkshire Hathaway.

Buffett’s secret to success is not only to avoid risks and preserve principal, but also includes the following points:

1. Long-term investment: Buffett has always insisted on long-term investment and regards it as investment. The key to success. He believes that holding shares in some excellent and promising companies and keeping them unchanged for a long time is a very smart investment strategy.

2. Value investing: Buffett believes that value investing is an investment method that looks for undervalued stocks. He analyzes factors such as a company's financial condition, management and business model to find stocks that are undervalued by the market and then invests in them.

3. Invest in industries that he is familiar with: Buffett only invests in industries that he is familiar with. In these industries, he can better understand the company's operations and competition and make smarter investments. decision making.

4. Do not follow market enthusiasm: Buffett will not blindly follow market enthusiasm or popular trends. Instead, he tends to think independently and make investment decisions based on his own judgment.

5. Risk control: Although Buffett invests a lot of time and energy in investment activities, he is always very cautious and cautious. He conducts in-depth analysis and evaluation of potential investments to ensure that his investments are sound and safe. Therefore, Buffett's secret to success is not only to avoid risks and preserve principal as much as possible, but also includes the above aspects.

Warren Buffett's personal honors in recent years

In 2020, Warren Buffett ranked 4th on the "2020 Forbes American Rich List" with a wealth of US$73.5 billion.

On March 2, 2021, Warren Buffett ranked 6th in the "2021 Hurun Global Rich List" with a wealth of 589 billion yuan.

In April 2021, Warren Buffett ranked sixth on the "2021 Forbes World's Richest List" with a wealth of US$96 billion.

In October 2021, Warren Buffett ranked 8th on Forbes' "2021 American Rich List" with a wealth of US$102 billion.

In January 2022, Warren Buffett ranked first among the top donors in the United States in 2022.

In March 2022, Hurun Research Institute released the "2020 Shimao Shenzhen-Hong Kong International Center·Hurun Global Rich List" ranking fourth.

In 2022, Warren Buffett ranked fifth on the "2022 Forbes World's Richest List" with a wealth of US$118 billion.

In May 2022, Berkshire Hathaway shareholders voted nearly 9 to 1 for Buffett to continue as chairman and CEO.

On March 23, 2023, Hurun Research Institute released the "2023 Hurun Global Rich List". Warren Buffett ranked 5th on the list with a wealth of 780 billion yuan, and his wealth decreased by 20 billion yuan. .