Becoming Warren Buffet 2017

Becoming Warren Buffet 2017

With a net worth of over $60,000,000,000, Warren Buffett is truly a one-of-a-kind billionaire. The legendary investor still lives in his modest home in Omaha. At 86 years old, he drives to the office every morning to manage Berkshire Hathaway, the fifth largest public company in the world.

 

thanks for posting the vid up redwing, watching it made my day.

 

Just finished watching it, fascinating doco and I think his values shows true to his investing strategy. To earn that incredible amount of wealth and then proceed to give 99% of it away to charitable organisations shows his true character.

 

Loved it, thanks.

 

Do you know what constantly blows me away? How much of his fortune he achieved after retirement age.

 

From $6,000 to $73 billion: Warren Buffett’s wealth through the ages

 

Now thats an incredible stat.
And here is a link to a podcast that shows how you can invest alongside him....
Episode #13: Want Buffett’s Returns? Here’s How to Get Them | Meb Faber Research - Stock Market and Investing Blog

 

Great link. Thanks for posting!

 

Does anyone know what happened when he was 44 when wealth halved.

 

According to the interweb...

Berkshire was originally a textile company, and rather than admitting defeat Buffett tried to keep the textile division alive

Nice timeline here The Evolution of Warren Buffett’s Career from 1936 to 2013

 

Watched it last night, great doco

 

A quiet night. Watching it on the big screen

 

Thx, just checking it out now.

 

I love how down to earth he is. Lives in his old house. Drives himself to McDonalds for breakfast each morning, Reminds me of that book everyday millionaire (except this is the 3rd richest person in the world)

 

I havent watched the doco,
im sure he is a very smart and risk taking man,

but wouldnt most of his last half of wealth come from luck, timing, time in market, reputation and financial power?

 

I hope this Helps:

Buffett: Temperament is more important than IQ. You need reasonable intelligence, but you absolutely have to have the right temperament. Otherwise, something will snap you.

Buffett: You don’t have to know how to value all businesses. You have to stay within your circle of competence, and pick companies that sell for less than what they’re worth. Some don’t lend themselves to valuations, so you should ignore them…If you are in the investment business and have an IQ of 150, sell 30 points to someone else. You do have to have an emotional stability and an inner peace about your decisions. It is a game where you are bombarded by minute-by-minute opinions. It’s not a complicated game. It’s simple, but it’s not easy. You have to have an emotional stability.

Warren Buffett says “Don’t worry about risk the way it is taught at Wharton. Risk is a go/no go signal for us – if it has risk, we just don’t go ahead.”

WARREN BUFFETT: Well I came up with that a long, long time ago to describe the situation that – I was lucky. I was born in the United States. The odds were 30 or 40-to-1 against that. I had some lucky genes. I was born at the right time. If I’d been born thousands of years ago I’d be some animal’s lunch because I can’t run very fast or climb trees. So there’s so much chance in how we enter the world. And –

Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in one-night stands a romantic.”

“Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.’ Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.”

“Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can’t produce a baby in one month by getting nine women pregnant.”

“Honesty is a very expensive gift; don’t expect it from cheap people.”

“In the 54 years (Charlie Munger and I) have worked together, we have never forgone an attractive purchase because of the macro or political environment, or the views of other people. In fact, these subjects never come up when we make decisions.”

 

Part of what makes Warren amazing is that he didn't take huge risks or leverage. His amazing returns are due to compounding over a very long time frame.

 

hes obvooisly doing something a lot different or better than others, I know heaps of people that have been doing shares their whole life and dont take risks and arent what you would call "wealthy"

 

Best thread on PC

 

Nah. Who is this Buffet character?

When this thread gets close to 100 pages which is the case with the LIC thread I might try to find out who this Buffet guy is.

But he's obviously an amateur going by the amount of posts in this thread.