To build wealth, it's crucial to cultivate a financial education and understand cash flow by acquiring income-generating assets rather than liabilities. Setting definite goals fueled by a strong desire and backed by persistent action is essential. Intelligent investing, as opposed to speculation, requires thorough analysis and a focus on the safety of principal with an adequate return, emphasizing a margin of safety. For defensive investors, focusing on large, stable companies is recommended. Overcoming negative influences and alibis is also key to achieving success.
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