From Kiplinger's Personal Finance, November 2013 Warren Buffett, CEO of Berkshire Hathaway, is acknowledged to be one of the best investors on the planet. He's also pretty good at coining a phrase. Following the seven Buffett pearls below can help make you a better investor.Rule number one: Never lose money. Rule number two: Don't forget rule number one. If [investors] try to time their purchases, they will do very well for their broker, and not very well for themselves. If ... history was all there was to the game, the richest people would be librarians. I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will. Sponsored Content When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever. We've long felt that the only value of stock forecasters is to make fortune-tellers looks good .. [My partner] Charlie [Munger] and I believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children. A pin lies in wait for every bubble. And when the two meet, a new wave of investors learns some very old lessons.