--- title: "Meaning & Key Takeaway of: The first rule is not to lose. The second…" description: "\"The first rule is not to lose. The second rule is not to forget the first rule.\" — Warren Buffett" image: "https://sms4smile.com/quotes/i/4c7/warren-buffett-183_forget_the-first-rule-is-not-to-lose-the-second_140143.png" --- # The first rule is not to lose. The second rule is not to… ![“The first rule is not to lose. The second rule is not to forget the first rule.” quote by Warren Buffett](https://sms4smile.com/quotes/i/4c7/warren-buffett-183_forget_the-first-rule-is-not-to-lose-the-second_140143.png) [Download](https://sms4smile.com/quotes/i/4c7/warren-buffett-183_forget_the-first-rule-is-not-to-lose-the-second_140143.png) [Open image](https://sms4smile.com/quotes/i/4c7/warren-buffett-183_forget_the-first-rule-is-not-to-lose-the-second_140143.png) > “The first rule is not to lose. The second rule is not to forget the first rule.” [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. Never lose; always remember the first rule. **In simple terms:** Never forget core principles. Key Takeaway Adhere to fundamental guidelines. Themes strategy memory principles Mood pragmatic wise Type business philosophical When to use this quote - investment planning - career strategy - personal discipline Key Concepts risk management decision making Questions to Reflect On - What is your core rule? - How do you adapt it? A Different Perspective Over‑reliance on a single rule can be limiting. ★ ★ ★ ★ ★ No ratings yet [Forget](https://sms4smile.com/quotes/about/forget/) [Forget Rule](https://sms4smile.com/quotes/about/forget-rule-1585880/) [Lose Second](https://sms4smile.com/quotes/about/lose-second-1176832/) [Rule](https://sms4smile.com/quotes/about/rule/) [Rule Lose](https://sms4smile.com/quotes/about/rule-lose-516277/) [Second Rule](https://sms4smile.com/quotes/about/second-rule-759847/) ## Related quotes > [Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.](https://sms4smile.com/quotes/warren-buffett/rule-no-1-never-lose-money-rule-no-2-never-forget-rule-no-1/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“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/) > [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/) > [“And we shall all carry on with our hearts set on the next best thing...because we know how we have lived and understand what…](https://sms4smile.com/quotes/isabel-aanya-leigh/and-we-shall-all-carry-on-with-our-hearts-set-on-the-next-best-thing/) [Isabel Aanya Leigh](https://sms4smile.com/quotes/author/isabel-aanya-leigh/) > [I used to either lose in my first or second match or I would go very far in the tournament. 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You are supposed to agree and then add something of…](https://sms4smile.com/quotes/tina-fey/the-second-rule-of-improvisation-is-not-only-to-say-yes-but-yes-and/) [Tina Fey](https://sms4smile.com/quotes/author/tina-fey/) ## 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. 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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. 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