--- title: "Meaning & Key Takeaway of: Rule No.1: Never lose money. Rule No.2…" description: "\"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.\" — Warren Buffett" image: "https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png" --- # Rule No.1: Never lose money. Rule No.2: Never forget rule… ![“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” quote by Warren Buffett](https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png) [Download](https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png) [Open image](https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png) > “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Prioritize capital preservation and let that rule guide all decisions. **In simple terms:** Never lose money, remember that rule. Key Takeaway Guard your capital first. Themes finance risk management discipline Mood cautious pragmatic Type financial advisory When to use this quote - stock investing - business budgeting - personal finance Key Concepts value investing behavioral economics Questions to Reflect On - Are you willing to sacrifice potential gains for safety? - How does this rule affect long‑term wealth? A Different Perspective Risk‑return trade‑off may limit growth. ★ ★ ★ ★ ★ No ratings yet [Forget](https://sms4smile.com/quotes/about/forget/) [Lose Money](https://sms4smile.com/quotes/about/lose-money/) [Money](https://sms4smile.com/quotes/about/money/) [Money Rule](https://sms4smile.com/quotes/about/money-rule-1014658/) [Never forget](https://sms4smile.com/quotes/about/never-forget/) [Rule](https://sms4smile.com/quotes/about/rule/) [Rule Forget](https://sms4smile.com/quotes/about/rule-forget-3290330/) [Rule Lose](https://sms4smile.com/quotes/about/rule-lose-516277/) ## Related quotes > [The first rule is not to lose. The second rule is not to forget the first rule.](https://sms4smile.com/quotes/warren-buffett/the-first-rule-is-not-to-lose-the-second-rule-is-not-to-forget-the/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Truly wealthy people develop the habit of "getting rich slow" rather than "getting rich quick." To assure this, they have two rules with regard…](https://sms4smile.com/quotes/brian-tracy/truly-wealthy-people-develop-the-habit-of-getting-rich-slow-rather/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [I only have one rule: I don't do anything for money; that's my rule.](https://sms4smile.com/quotes/terry-crews/i-only-have-one-rule-i-don-t-do-anything-for-money-that-s-my-rule/) [Terry Crews](https://sms4smile.com/quotes/author/terry-crews/) > [When the institutions of money rule the world, it is perhaps inevitable that the interests of money will take precedence over the interests of…](https://sms4smile.com/quotes/david-korten/when-the-institutions-of-money-rule-the-world-it-is-perhaps/) [David Korten](https://sms4smile.com/quotes/author/david-korten/) > [“Every game has rules. Obey the rules, win the game; disobey the rule, lose it! The game of life has loser and winners. Play…](https://sms4smile.com/quotes/israelmore-ayivor/every-game-has-rules-obey-the-rules-win-the-game-disobey-the-rule/) [Israelmore Ayivor](https://sms4smile.com/quotes/author/israelmore-ayivor/) > [I can't fully rule out that I lose my temper sometimes.](https://sms4smile.com/quotes/ousmane-dembele/i-can-t-fully-rule-out-that-i-lose-my-temper-sometimes/) [Ousmane Dembele](https://sms4smile.com/quotes/author/ousmane-dembele/) > [It's my rule never to lose me temper till it would be detrimental to keep it.](https://sms4smile.com/quotes/sean-o-casey/it-s-my-rule-never-to-lose-me-temper-till-it-would-be-detrimental-to/) [Sean O'Casey](https://sms4smile.com/quotes/author/sean-o-casey/) > [There are three rules for being in the Paper Route Illuminati. Rule number one: get the money first. Rule number two: don't forget to…](https://sms4smile.com/quotes/young-dolph/there-are-three-rules-for-being-in-the-paper-route-illuminati-rule/) [Young Dolph](https://sms4smile.com/quotes/author/young-dolph/) > [That's the number one rule after you lose someone is go to somebody else, go to the people around you, be with the people…](https://sms4smile.com/quotes/emma-gonzalez/that-s-the-number-one-rule-after-you-lose-someone-is-go-to-somebody/) [Emma Gonzalez](https://sms4smile.com/quotes/author/emma-gonzalez/) > [They say money rule the world, you can’t pay God with it](https://sms4smile.com/quotes/meek-mill/they-say-money-rule-the-world-you-can-t-pay-god-with-it/) [Meek Mill](https://sms4smile.com/quotes/author/meek-mill/) > [If you lose money for the firm, I will be forgiving. If you lose reputation, I will be ruthless.](https://sms4smile.com/quotes/warren-buffett/if-you-lose-money-for-the-firm-i-will-be-forgiving-if-you-lose/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We can afford to lose money - even a lot of money. But we can't afford to lose reputation - even a shred of…](https://sms4smile.com/quotes/warren-buffett/we-can-afford-to-lose-money-even-a-lot-of-money-but-we-can-t-afford/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [He must never forget Charlie's plea: Tell me where I'm going to die, so I'll never go there.](https://sms4smile.com/quotes/warren-buffett/he-must-never-forget-charlie-s-plea-tell-me-where-i-m-going-to-die-so/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [If youve got an industry where youve got massive investment, it doesnt matter whether you bring in alternative supplies. You still lose the money…](https://sms4smile.com/quotes/arthur-scargill/if-youve-got-an-industry-where-youve-got-massive-investment-it-doesnt/) [Arthur Scargill](https://sms4smile.com/quotes/author/arthur-scargill/) > [You can never be an entrepreneur if you're afraid to lose money. It's like being a pilot who is afraid of bad weather.](https://sms4smile.com/quotes/peter-de-savary/you-can-never-be-an-entrepreneur-if-you-re-afraid-to-lose-money-it-s/) [Peter de Savary](https://sms4smile.com/quotes/author/peter-de-savary/) ## More by Warren Buffett > [To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Explore all 984 Warren Buffett quotes ](https://sms4smile.com/quotes/author/warren-buffett/) ## More Forget quotes > [I Never met her,i never talked to her,but in my whole day I am either thinking about her or trying to forget her.](https://sms4smile.com/quotes/subhananda/i-never-met-her-i-never-talked-to-her-but-in-my-whole-day-i-am-either/) [Subhananda](https://sms4smile.com/quotes/author/subhananda/) > [What people tend to forget is the journey that I had getting to Formula One. There were plenty of years where I had to…](https://sms4smile.com/quotes/lewis-hamilton/what-people-tend-to-forget-is-the-journey-that-i-had-getting-to/) [Lewis Hamilton](https://sms4smile.com/quotes/author/lewis-hamilton/) > [Once upon a time. Ah forget it.](https://sms4smile.com/quotes/anonymous/once-upon-a-time-ah-forget-it/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Forget the credit, they (male actors) take all the money as well. We don't get paid even one-third of what male actors get. It's…](https://sms4smile.com/quotes/kangana-ranaut/forget-the-credit-they-male-actors-take-all-the-money-as-well-we-don/) [Kangana Ranaut](https://sms4smile.com/quotes/author/kangana-ranaut/) > [It goes to show you how we in the press so often miss the big stories that are right under our noses. There is…](https://sms4smile.com/quotes/roger-ebert/it-goes-to-show-you-how-we-in-the-press-so-often-miss-the-big-stories/) [Roger Ebert](https://sms4smile.com/quotes/author/roger-ebert/) > [Your memory is a monster; you forget - it doesn't. It simply files things away. It keeps things for you, or hides things from…](https://sms4smile.com/quotes/john-irving/your-memory-is-a-monster-you-forget-it-doesn-t-it-simply-files-things/) [John Irving](https://sms4smile.com/quotes/author/john-irving/) > [“Which people take the time to care for their souls, these days? I reckon not many. But...hear this: I think that maybe in our…](https://sms4smile.com/quotes/susan-fletcher/which-people-take-the-time-to-care-for-their-souls-these-days-i/) [Susan Fletcher](https://sms4smile.com/quotes/author/susan-fletcher/) > [The problem with people is they forget that most of the time it's the small things that count.](https://sms4smile.com/quotes/jennifer-niven/the-problem-with-people-is-they-forget-that-most-of-the-time-it-s-the/) [Jennifer Niven](https://sms4smile.com/quotes/author/jennifer-niven/) > [Remind a man of what he remembers, and you will make him forget it.](https://sms4smile.com/quotes/plautus/remind-a-man-of-what-he-remembers-and-you-will-make-him-forget-it/) [Plautus](https://sms4smile.com/quotes/author/plautus/) > [“So you try, and try, to move past it and forget about them, but it's like they're stuck in your head -- you can't…](https://sms4smile.com/quotes/abby-mcdonald/so-you-try-and-try-to-move-past-it-and-forget-about-them-but-it-s/) [Abby McDonald](https://sms4smile.com/quotes/author/abby-mcdonald/) > [People forget that there is a big difference between coercion and persuasion. The idea that evangelism is coercive is nonsense.](https://sms4smile.com/quotes/mark-dever/people-forget-that-there-is-a-big-difference-between-coercion-and/) [Mark Dever](https://sms4smile.com/quotes/author/mark-dever/) > [People are disturbed not by things but by the view they take of them. They may forget what you said, but they will never…](https://sms4smile.com/quotes/frederick-buechner/people-are-disturbed-not-by-things-but-by-the-view-they-take-of-them/) [Frederick Buechner](https://sms4smile.com/quotes/author/frederick-buechner/) > [I don't think people will ever forget I was an 'Angel,' anymore than they'll forget Sally Field was 'The Flying Nun.'](https://sms4smile.com/quotes/cheryl-ladd/i-don-t-think-people-will-ever-forget-i-was-an-angel-anymore-than/) [Cheryl Ladd](https://sms4smile.com/quotes/author/cheryl-ladd/) > [If God knows me I will never forget him](https://sms4smile.com/quotes/trunxbeats/if-god-knows-me-i-will-never-forget-him/) [Trunxbeats](https://sms4smile.com/quotes/author/trunxbeats/) > [Our memory is a monster; you forget it - it does not.](https://sms4smile.com/quotes/john-irving/our-memory-is-a-monster-you-forget-it-it-does-not/) [John Irving](https://sms4smile.com/quotes/author/john-irving/) [Browse all 11,315 Forget quotes ](https://sms4smile.com/quotes/about/forget/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.", "creator": { "@type": "Person", "name": "Warren Buffett" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/warren-buffett/rule-no-1-never-lose-money-rule-no-2-never-forget-rule-no-1/", "about": { "@type": "Thing", "name": "Forget" }, "@id": "https://sms4smile.com/quotes/warren-buffett/rule-no-1-never-lose-money-rule-no-2-never-forget-rule-no-1/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png", "contentUrl": "https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png", "url": "https://sms4smile.com/quotes/i/bb0/warren-buffett-183_forget_rule-no-1-never-lose-money-rule-no-2-nev_357657.png", "width": 1080, "height": 1080, "caption": "“Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” — Warren Buffett", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Warren Buffett", "item": "https://sms4smile.com/quotes/author/warren-buffett/" }, { "@type": "ListItem", "position": 4, "name": "Rule No.1: Never lose money. Rule...", "item": "https://sms4smile.com/quotes/warren-buffett/rule-no-1-never-lose-money-rule-no-2-never-forget-rule-no-1/" } ], "@id": "https://sms4smile.com/quotes/warren-buffett/rule-no-1-never-lose-money-rule-no-2-never-forget-rule-no-1/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```