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Buffet was a small time investor at some point. He just made a lot of good investments over a long time.
by samfisher83 9y ago
Buffet was a small time investor at some point. He just made a lot of good investments over a long time.
- krirokeoe2882 9y agoI like how this ignores the very different world that was when Buffet got started Yes here you are, sir, an economy that can only go up given the decimation of manufacturing in the rest of the post WW2 world And to boot, rampant imperialism on the part of your government Let’s see him start at 11 yo today with the same initial investment
- nwah1 9y agoGiven his level of success, even if his talents are considerable, he must've also been extremely lucky and thus even starting a day later or earlier would've probably crushed his entire life trajectory.
- perl4ever 9y agoI agree that he was lucky in starting at the general time he did, but I think that claiming the exact day was critical is going too far. It's like the person who supposedly said that if the earth was an inch farther away from the sun it would freeze and an inch closer it would cook.
- freeflight 9y agoEven a couple of inches, extrapolated over time, can have a massive effect on the final trajectory.
- valuearb 9y agoBuffett started out as an expert in the kind of arbitrate deals that are much more available in bad markets than good. Still he was able to average 40% returns his first decade despite the lack of a good bear market.
- valuearb 9y agoLOL, no. Buffett’s success has been done year by year for over 60 years. Take his best year out and his success is basically the same. Note also that he’s intentionally hamstrung himself for the last 46 years or so by investing through Berkshire Hathaway. Had he kept investing through his partnerships he would have made another $80 Billion from performance fees. Had he just invested his own money his returns would have been much higher given he’d have far more investment opportunities,
- tim333 9y agoHe's still doing well in the current world.
- tjr225 9y agoIt's easier to do well if you have more money than everyone else.
- newyankee 9y agoYes, not sure why you are called out. You can influence the system to your benefit when you have that kind of wealth
- valuearb 9y agoIt’s actially way harder to earn high returns on $400 Billion than it is $4B. Buffett’s returns have been declining for 50 years because of that. As his portfolio size grows it increasingly limits his investment options.
- walshemj 9y agoHe also had a very very good mentor who wrote the original book on securities analysis.
- headmelted 9y agoThis. Also check out The Intelligent Investor, which is arguably Ben Graham's most accessible work on the topic.
- walshemj 9y agoAbsolutely the modern copy I have had some commentary comparing some of Grahams analysis of problems in the 50's and 60's and how some of the problems in the dot.com crash where strikingly similar.