Rule #1 investing is simple. It’s worked for 80 years. (Not that I'm 100 years old. I've been investing with these ideas for 20 years and they worked well for me). These ideas will still be the foundation of successful investing 100 years from now.
You make a list of wonderful businesses ('wonderful' is very specific - a business with a durable competitive advantage).
You then determine value, value being different from price (by conservatively estimating future earnings).
You then wait to buy that business at 50% off its value, like buying a $100,000 sticker price Mercedes for $50,000.
To be able to get that discount you must be patient and wait for market fluctuations. As Buffett says, Mr. Market can be highly volatile in the short run. Sometimes we sit in cash for months or even years waiting patiently for the right price. If we buy wonderful companies at attractive prices we know we are going to make money, because we just bought a dollar for fifty cents.
Buffett has been talking about this for years and a lot of investors out there do it. As he says, it isn't hard to do; it just takes patience and knowledge of value. Anyone can learn.