Want to get filty rich the markets ?

Question

Follow the investment advice of Jim Rogers

and Warren Buffett .

Answer 1

People doing this have not gotten 'filthy rich'.

If they had, we would have heard about it. Study after study proves that slow and steady is the proper way to invest.

Here are some simple principles:

1. Do not chase past returns. People that buy funds because they have done well in the past are doing exactly that.

2. Do not market time. Market timing is buying based on your (or your newsletter, or your TV, or neighbor's) guess about what is going to happen in the future. Even if someone knows something, you've already missed the boat. The price already reflects what you just found out.

3. Use index funds. Over time, index funds outperform actively managed funds, mostly because they do not have those high expense ratios. Some actively managed funds do beat their index, but the ones that do usually do not do so consistently. So why gamble? Use index funds. If you want to use a few actively managed funds, make sure that the costs are very low. Vanguard has some good ones.

5. Diversify. Don't put all your eggs in one basket. Own a mix of bonds, domestic equities (large, small and mid cap funds), an international fund and perhaps a REIT (Real Estate Investment Trust) and emerging market fund.  Four to six funds is all you need. Know your risk tolerance and set up an appropriate asset allocation. Rebalance as needed.  

6. Consider taxes. Use the least tax efficient funds in your tax-deferred accounts and the most tax efficient funds in your taxable accounts.

Answer 2

There are many successful people in the market and many of them are filthy rich and none of them follow Jim Rogers or Warren Buttett.

You're giving advice to many on this site who are in the business or who are investing and/or trading and you're advice is not correct.   It's the advise of an immature want-a-be-investor.

You giving advise to newbies to investing and/or trading, and if you had any experience, you would know what you are saying is not correct and very improper