Warren Buffett's rule of success:

1) Ascertain the true quality of a company and its top managers

2) Stockholders are not managers. They should leave the running of a firm to competent managers with integrity.

3) Don't invest in businesses you don't understand

4) Give help and advise if they want it, but let the managers make their own decision

5) Never, ever break the law

6) Owners are owners and managers are managers - but they work as partners

7) Keep your distance from the market. You will understand the business better.