Principles for Building Wealth

12 True Riches According to Napoleon Hill

1. Positive mental attitude

2. Sound physical health

3. Harmony in human relations

4. Freedom from fear

5. Hope of future achievement

6. Capacity for applied faith

7. Willingness to share one’s blessings with others

8. To be engaged in a labor of love

9. Open mind on all subjects toward all people

10. Complete self-discipline

11. Wisdom with which to understand people

12. Financial security

Top 10 Qualities Super Successful People Have in Common

1. An ever burning desire/ambition/passion (be persistent and persevere until they succeed).

2. Do what they love and live it (do it every day as the way of life and not just once in a while).

3. Think positively by asking positive questions and looking on the bright side of things such as: How can I be wealthy or how can I benefit from these mistakes. And NOT I'll never be rich or why am I such a failure?

4. Have a purpose in life that's greater than for personal gain (do something great for humanity).

5. Learn from other great/super successful people directly or indirectly constantly.

6. Know how to use the power of the mind (know how to use your thoughts and FOCUS on it in order to use the law of attraction, aka the unconscious mind).

7. They constantly challenge themselves to the next level and improve every single day even just a tiny bit.

8. They have full faith in themselves and in God.

9. Have SMART (specific, measureable, achievable, realistic, & time bound) goals which are written down and reviewed every day until achieved.

10. Have complete control of their emotional self (be able to control their emotions and not give in to their instant gratifications; not letting others affect you negatively).

The Principles of Investment: (for investing in equity assets such as stocks, businesses, and real estate)

1. Use your own money to invest; never use borrowed money. (“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1”)

2. Only buy companies that you fully understand that have sustainable competitive advantages and management in place that have shareowner interests in mind. (“It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.”)

3. Always invest using a margin of safety. This means to pay for a stock at a discount for what its intrinsic value is. (“Price is what you pay. Value is what you get”)

4. Always buy businesses that you would want to keep forever at the time you buy it. (“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”)

5. Buy companies that people aren’t looking at and avoid stocks that are hot. (“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”)

6. Invest your money with the objective of generating more and more assets in forms of capital appreciation and dividends instead of making money trading on the stock market. (“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years. If a business does well, the stock eventually follows.”)

7. Focus your investment holdings instead of over diversifying. (“Risk-assuming you know what you're doing-can be greatly reduced by concentrating on only a few holdings. If you know businesses, you probably don’t need to know more than 6 of them.”)

8. Look at the stock market going down as an opportunity and not as a disaster. (“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”)

9. Use your own method to evaluate value of stocks. (You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right.”)

10. Only sell if you need the capital to buy another business that is much better than the one you’re currently holding (meaning the new business has much higher quality and higher growth rate than the business you’re holding), if the Fundamentals/Qualitative Factors of the business become much worse, or you’re 100% its price is way over valued. (“Our favorite holding period is forever.”)