Author name: Steve Burns

After a lifelong fascination with financial markets, Steve began investing in 1993 and trading his accounts in 1995. It was love at first trade. After more than 30 successful years in the markets, Steve now dedicates his time to helping traders improve their psychology and profitability. New Trader U offers an extensive blog resource with more than 4,000 original articles, online courses, and best-selling books covering various topics.

Two Golden Rules of Competitive Advantage- Charlie Munger

Two Golden Rules of Competitive Advantage: Charlie Munger

Investments /

In the ever-evolving business landscape, understanding the underpinnings of competitive advantage is crucial. Few individuals grasp this concept better than Charlie Munger, renowned investor and vice chairman of Berkshire Hathaway. In this article, we will delve into the two guiding principles that have steered Munger’s remarkably successful investment strategy and two other edges that Buffett […]

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7 Rich Peoples Habits That Will Change Your Life

7 Rich People’s Habits That Will Change Your Life

Wealth /

Changing your financial trajectory involves more than just earning and saving money—it’s about adopting habits that promote sustainable wealth creation. Inspired by my research of affluent individuals, this article explores the transformative habits you must incorporate into your daily systems to ascend to new financial heights. These proven strategies are pathways to wealth and habits

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How To Invest in S&P 500 (EASY Step-By-Step Guide)

How To Invest In The S&P 500 (EASY Step-By-Step Guide)

Investing /

Venturing into the investing world can seem daunting, particularly if you’re starting for the first time. However, the process can become much less intimidating with careful planning and understanding basic investment principles. The S&P 500, one of the most widely followed equity indices, is an ideal starting point for many new investors. This article presents

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6 Books to Understand Human Nature

6 Books to Understand Human Nature: Book Recommendations (Human Psychology)

Book Reviews /

Imagine standing at the entrance of an intricate maze, its complex paths representing the multifaceted landscape of human nature. It’s fascinating. This maze isn’t merely a puzzle to solve; it’s a metaphorical journey into our core, a quest to unravel the various threads of our behaviors, motivations, desires, and fears. In this exploration, we won’t

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The 7 Money Habits of the Rich

The 7 Money Habits of the Rich

Wealth /

Identifying self-made millionaires and billionaires from normal people isn’t just about their bank account size but their way of life—specifically, their habits. There’s something distinctive about their approach to money, business, careers, and life that gives them the edge to compound their wealth over time. In this article, I will share what I learned from

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Permutations, Combinations, and Probability

Permutations, Combinations & Probability (16 Word Problems)

Business /

“And the great useful model, after compound interest, is the elementary math of permutations and combinations.” – Charlie Munger.  What did Munger mean by this quote? Permutations and Combinations Charlie Munger, the long-term business partner of Warren Buffett at Berkshire Hathaway, is known for his emphasis on mental models—frameworks for understanding and interpreting the world.

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Warren Buffett On The Circle Of Competence Mental Model

Warren Buffett On The Circle Of Competence Mental Model

Warren Buffett /

Navigating the investing world can often feel like trying to find your way through a dense forest without a compass. Amid the abundance of advice and strategies, one stands out for its simplicity and effectiveness: Warren Buffett’s Circle of Competence mental model. This principle, used by one of the most successful investors in history, emphasizes

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Don't Keep Your Cash In The Bank

Don’t Keep Your Cash In The Bank: 6 Assets That Are Better & Safer Than Cash

Economics /

In an age of low-interest rates paid by banks and unpredictable economic events, keeping your money parked in a bank account may not be the smartest strategy for wealth preservation and growth. The phrase “Cash is King” has lost some validity, giving way to more robust and dynamic financial planning. The key to sustainable financial

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34 FRUGAL LIVING TIPS That REALLY WORK Warren Buffetts Saving Money Habits

34 Frugal Living Tips That Really Work: Warren Buffett’s Saving Money Habits

Warren Buffett /

Welcome to my comprehensive guide for frugal living tips based on the teachings and lifestyle of billionaire Warren Buffett. If you’re in the early process of building wealth and reaching financial freedom, you’re in the right place. This article is inspired by one of the world’s most successful investors, Warren Buffett, renowned for his investment

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Miyamoto Musashi- How To Build Your Self Discipline

Miyamoto Musashi: How To Build Your Self Discipline

Psychology /

Miyamoto Musashi was a legendary Japanese swordsman, philosopher, and artist who lived during the late 16th and early 17th centuries. His life and teachings have profoundly influenced various forms of Japanese arts and culture, from martial arts to calligraphy, and his fame has endured through the centuries. Musashi is primarily renowned for his undefeated record

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Charlie Munger- I Worked for the Experience Not for Money

Charlie Munger: “I Worked for the Experience Not for Money”

career /

“I worked just for the experience of working.” – Charlie Munger Charlie Munger believes in the principle of working for experience, not for money, particularly at the beginning of one’s career. This perspective reflects a long-term view of personal and professional growth. Munger suggests that the knowledge and skills one gain through hands-on experience, especially

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Make Money From Money

Make Money From Money

Wealth /

Is there anything more exciting than watching your money grow? It’s a thrill to realize that you’ve got the power to build wealth simply by making smart choices about where to place your hard-earned cash. And, yes, it’s all about making money from money. The principle here is to allow your money to work for

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5 HABITS THAT CHANGED MY LIFE

5 Habits That Changed My Life

Success /

There’s something truly transformational about habits. They’re the unseen architects of our lives, silently building and shaping our daily routine and destiny. Embracing good habits can be a game-changer; it’s how you chose your path in life. Unfortunately, too many people fall into the trap of letting their circumstances or impulses choose their habits and

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