People often look to Warren Buffett, one of the greatest investors of all time, for guidance what to do.  But what about the opposite?  The Oracle of Omaha has a great list of “no-goes” enumerated in this Bloomberg article:

Investing:

• Don’t be too fixated on daily moves in the stock market (from Berkshire letter published in 2014)
• Don’t get excited about your investment gains when the market is climbing (1996)
• Don’t be distracted by macroeconomic forecasts (2004)
• Don’t limit yourself to just one industry (2008)
• Don’t get taken by formulas (2009)
• Don’t be short on cash when you need it most (2010)
• Don’t wager against the U.S. and its economic potential (2015)

Management:

• Don’t beat yourself up over wrong decisions; take responsibility for them (2001)
• Don’t have mandatory retirement ages (1992)
• “Don’t ask the barber whether you need a haircut” because the answer will be what’s best for the man with the scissors (1983)
• Don’t dawdle (2006)
• Don’t interfere with great managers (1994)
• Don’t succumb to the attitudes that undermine businesses (2015)
• Don’t be greedy about compensation, if you’re my successor (2015)

Source: Bloomberg