Buffett: Today's Market is Like a Casino; Focus on Long-Term Investing in Sturdy Companies You Understand

Warren Buffett compared today's stock market to a casino, with investors making quick, emotional trades hoping to win big. He advises making smart long-term investments instead.

Don't listen to market pundits and predictions. Invest in solid companies you understand and trust, and hold them long-term.

Be fearful when others are greedy, and greedy when others are fearful - buy low when others are panic selling. Buffett bought his first stock during a market plunge.

Never risk permanent loss of capital. Use compound interest to grow wealth over time through conservative investments.

Invest in established, successful brands that have stood the test of time, like Coca-Cola and American Express. The longevity of their products leads to dividend growth.