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Given 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 pr
by nwah1 9y ago
Given 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,