Warren Buffett's Seven Rules: An Economic Masterclass in Value Investing

Look around at social media, politics, or the news and you're likely to agree with the bodybuilding champ-turned-movie star-turned-governor of California.

Whether he was lifting weights for five hours a day or trying to hack a path through the thicket of California politics, Schwarzenegger claims he was consistently happy. What allowed him to maintain a positive outlook despite personal setbacks and tough jobs? In his book Be Useful, Schwarzenegger boils down his philosophy to just four words.

You might think a simple mantra is too flimsy a thing to be actually meaningful in the face of real-life struggle. But according to top psychologists, the Governator actually manages to capture profound truths about human flourishing in one quick motto.

The Key Principles

1. Focus on value, not price - Understanding the difference between what something costs and what it's worth
2. Long-term thinking - Patience is a virtue in investing
3. Stay within your circle of competence - Know what you know and what you don't
4. Be fearful when others are greedy - Contrarian thinking pays off

These principles have guided Buffett through decades of successful investing and can be applied to many areas of life beyond finance.