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Warren Buffett... your thoughts?

WJK

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And he eats "only" at McDonald's and drinks Coca-Cola. Perfectly healthy and fit for more then 50 years.
The man does what he wants to do. He lives the life he chooses. Sam Walton drove his old pickup truck and hunted with his hounds. He too made a lifestyle choice. His money gave him that privilege. Time and money intensifies who we are and brings out our core values. Who are we to judge another person?

People around me are always talking about what they would do IF they had money. 99% percent of the time, it's all about how they would spend it. I just quietly listen. They just have no idea what they are saying. I can't fix inexperience and/or stupid. It's all just talk. First, they would have to have a way to make that pile of "strutting" money. And then they'd need the lifestyle and financial skills to keep that money working by making it grow through creating cash flows.
 
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MJ DeMarco

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My thoughts for the day...

Can I visit any finance website without having Warren Buffett shoved down my throat?
 

Ninjakid

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It's funny how people praise Warren Buffett for living in the same home for 50 years that he bought for $31,000, and driving an old car.

Why is that worth of praise? That's just his preference. But I guess society likes it when you pretend you're just like everyone else.

"Warren Buffett and Mark Zuckerberg are just like me!"

No... No they're not.
 

Ninjakid

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Warren Buffett is so rich are powerful, there are like less than 50 people in the world who can relate to him. He probably has spies who have infiltrated this forum, and are reporting everything we're saying about him. He's in contact with alien overlords who are going to get this forum shut down as we speak.
 

minivanman

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Well, as far as the house goes, it is in a very prominent part of Omaha. People like Willy Theisen live in the neighborhood or the last I knew he did. It actually IS a place where he would move to if he didn't already live there but I know what you mean. His daughter made him donate his old car.... it's just stupid that he does things like that. While I do understand liking an old car.... keep the old one and buy a new one too. He always brags that he eats at McDonald's for under $4 every day. The thing about that is, his office in downtown Omaha has a very good chef and high class restaurant so no need to eat anywhere else. The food is great there. And if he actually wants to put a calculator to it, if he just wants a biscuit with meat & egg on it, it would probably be CHEAPER to have his own chef make it. I don't get people like him but I guess if it makes him happy, he probably doesn't get someone like me!
 
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ljean

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You can buy an ebook containing all of Warren Buffett's letters to shareholders since 1965 on Kindle for $1.50. Its a good read for anyone interested in business or investing. Some of the repeating themes are:

Its better to buy a good business at a premium price than a struggling business at a bargain price.
Dont throw good money after bad.
Its better to have a non-controlling interest in a good business than a controlling interest in a struggling business.
When a first-rate management team tackles a business with a reputation for poor fundamental economics, it is usually the reputation of the business that remains intact.
Buying a business via the stock market vs a private transaction makes little difference.
The stock market is like a manic business partner who offers a price to buy out your interest every day or sell you his and you are free to make a deal or not.
Align yourself with good people, stay out of their way and let them do their job, and compensate them well.
Buffett had no interest in buying businesses he needed to run or hostile takeovers. Most of the owners that sold stayed on as managers for many many years.
 
G

Guest-5ty5s4

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People think Warren Buffett is a guy who owns a bunch of stock in his brokerage account. Far from it.

He is a CEO and businessman and controls companies just like any other CEO and businessman would. He owns Clayton Homes (a private company), Duracell (or was it energizer?), GEICO, Dairy Queen, and a very long list of others. He owns railroads and public utility companies too.

The idea that he just compounded his way to wealth in the slow lane is a LIE that Wall Street sells you so that you will buy their investment products.

Warren Buffett is more like Donald Trump and less like Mr. Money Mustache. But the media would tell you otherwise.

These aren’t “retail” investments. He is the CEO of a conglomerate company.

He is a lot more like Rockefeller or Carnegie than he is like a retail investor.
 

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Deleted78083

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People think Warren Buffett is a guy who owns a bunch of stock in his brokerage account. Far from it.

He is a CEO and businessman and controls companies just like any other CEO and businessman would. He owns Clayton Homes (a private company), Duracell (or was it energizer?), GEICO, Dairy Queen, and a very long list of others. He owns railroads and public utility companies too.

The idea that he just compounded his way to wealth in the slow lane is a LIE that Wall Street sells you so that you will buy their investment products.

Warren Buffett is more like Donald Trump and less like Mr. Money Mustache. But the media would tell you otherwise.

These aren’t “retail” investments. He is the CEO of a conglomerate company.

He is a lot more like Rockefeller or Carnegie than he is like a retail investor.
100% agree, Buffett is not only a good investor, he is actually a good businessman that understands management, sales, and marketing.

Just, instead of starting his own company and maybe fail, he decided to buy a bunch instead. In fact, I am not sure he ever created a company. He bought Berkshire and transformed it into what it is today.

That kinda joins MJ's recent advice to buy a business instead of building one.
 
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BooBoosHelix

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Tbh none of the likes like bill gates, Jeff bezos and co would be where they are today without an INCREDIBLE amount of luck.

I know someone who outperformed waren buffet by the last decade and he thinks warren buffet is a good investor but overrated.
 

Mathuin

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Kevin88660

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Tbh none of the likes like bill gates, Jeff bezos and co would be where they are today without an INCREDIBLE amount of luck.

I know someone who outperformed waren buffet by the last decade and he thinks warren buffet is a good investor but overrated.
He runs a fund management at the start to leverage on other people’s money. Also he does activist investing to change leadership in the company according to what he think will improve the fundamental and move in the direct direction.

Getting involved in the insurance business helps him to gain access to cheap leverage.

I personally know people who achieved 9 digit net worth through value investing at age 70. Value investing with aggressive leverage in early days and survived the 1997 Asian financial crisis.

There are many small warren buffets around. The issue is your wealth actually grows very slowly before age 50. Most of the money will be made between 50-70. That is what the compound wealth guru do not tell you about, the compounding magic only works best when your capital is sufficiently large.
 
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BooBoosHelix

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Luck is an aftereffect of process
No. There could literally have been a 200% more capable individual bombed at 5 years of age in a warzone. To be honest there probably died a couple hundred of Elon musks that never got the chance to try to achieve anything.

Luck or randomness is a gigantic factor in the evolution.

Iam not denieng that Bill if he had 10000 lives in parallel would have done well in the majority of them but the odds of becoming a founder of something like Microsoft is realistically less than 1 in 10000.

Please don’t put people on a pedestal
Luck is an aftereffect of process
 
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BooBoosHelix

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He runs a fund management at the start to leverage on other people’s money. Also he does activist investing to change leadership in the company according to what he think will improve the fundamental and move in the direct direction.

Getting involved in the insurance business helps him to gain access to cheap leverage.

I personally know people who achieved 9 digit net worth through value investing at age 70. Value investing with aggressive leverage in early days and survived the 1997 Asian financial crisis.

There are many small warren buffets around. The issue is your wealth actually grows very slowly before age 50. Most of the money will be made between 50-70. That is what the compound wealth guru do not tell you about, the compounding magic only works best when your capital is sufficiently large.
Yeah but it’s the same with the investment E-Mail. You know where someone sends 10.000 emails with investment A and 10.000 emails with investment B to people and then continues weather A or B is right.
If 2 million smart people start out in the world of investing odds are one will do better than the other just by choosing the right A or B often enough without being much more capable as a person.
It’s not that warren buffet is bad or anything he is like top in his field but overrated if you consider him investment god or think he or any other super wealthy could replicate their success every time if they had to start again.
 

Kevin88660

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No. There could literally have been a 200% more capable individual bombed at 5 years of age in a warzone.

Luck or randomness is a gigantic factor in the evolution.

Iam not denieng that Bill if he had 10000 lives in parallel would have done well in the majority of them but the odds of becoming a founder of something like Microsoft is realistically less than 1 in 10000.

Please don’t put people in a pedestal b
I think Peter Lim said it best that “when I made my first 10 million it is 90 percent hardwork and 10 percent luck, when I reached a billionaire it is more like the other way.”
 
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Kevin88660

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Yeah but it’s the same with the investment E-Mail. You know where someone sends 10.000 emails with investment A and 10.000 emails with investment B to people and then continues weather A or B is right.
If 2 million smart people start out in the world or investing odds are one will do better than the other just by choosing the right A or B often enough without being much more capable as a person.
It’s not that warren buffet is bad or anything he is like top in his field but overrated if you consider him investment god or think he or any other super wealthy could replicate their success every time if they had to start again.
I definitely thinks he is too notch when it comes to investing. It is not largely luck that he consistently outperformed the broader index for many years.

And his limitation came when tech stocks start to outperform the rest.

I think the luck part for Warren is that he is in the business in a good time that U.S. economy was benefiting from the post war consumption economy boom, globalization (post 1980) and massive money printing.

If he was born in Japan and trying to replicate that the post 1980 depression will kill his investment.

Warren is fundamentally focused on micro factors and benefiting from macro luck.
 

Kevin88660

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I wouldn’t agree with the first 90-10 ;) but it’s a pretty cool Statement none the less.
He is a Singaporean business man. You can read up on him. Made his first 10 million as a stock broker dealing with rich Indonesian clients.

Then all in his money on a commodity business company that almost went bankrupt but eventually made it.
 
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BooBoosHelix

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He is a Singaporean business man. You can read up on him. Made his first 10 million as a stock broker dealing with rich Indonesian clients.

Then all in his money on a commodity business company that almost went bankrupt but eventually made it.
Thanks I checked him out already in Google interesting life story
 

WJK

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Luck is an aftereffect of process
I find that hard work and success attract good luck -- just like whatever I think about is also attracted to me. Concentration is magnetic for the Universe. Additionally, it depends on how I count the results -- what category do I put things into. Is it a win or a loss? Is it a necessary step in the right direction? I truly believe that I'm the luckiest girl on God's Green Earth. I have gone further and done more than I could have ever dreamed.
 

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