Everyone is hunting for the next big winner in the stock market, but sometimes it pays to go back to basics. Where is a better place to start than by drawing on the wisdom of the Oracle of Omaha, Warren Buffett?

Buffett is famously quoted as saying his first rule of investing is "never lose money". After all, compounding your capital is much easier when starting from a higher base. It is equally simple for those interested in his second rule - "never forget rule number one".

There are always plenty of investors willing to give their views on which investments look good, but hearing about stocks to sell or at least avoid is less common.

Looking through the nominations in the wire below, a few things stand out. Many of the stocks named have had incredible runs in 2024 and have benefitted from hot themes, changes in regulation and the prospect of big wins with binary outcomes. Some of the success will no doubt have been the result of good management. It almost always is when share prices are heading north!

It's also evident that many of these stocks have loyal supporters who believe in the vision of an enigmatic founder. Whilst Tesla isn't on this list, it is probably one of the most outstanding examples of a widowmaker trade for short sellers, and Elon Musk has consistently defied the doubters.

The final point is that while our guests do note the quality of a number of the businesses, valuation often becomes the barrier. Buffett, the world's greatest investor, attained this status by being ruthlessly disciplined about the price he was willing to pay for a stock and equally disciplined when it came to selling. Buffett has been aggressively offloading his Apple shares despite its ubiquitous presence in our daily lives.

Having already named their growth picks, we've asked our guests to nominate the stocks they're avoiding in 2025.