In addition to getting in on the 'value investing' train early, they built their fortunes because they were there with capital in the 1960s, the best time to be

In addition to getting in on the 'value investing' train early, they built their fortunes because they were there with capital in the 1960s, the best time to begin a 'buy and hold' strategy. Back in the '60s and '70s, stock market capitalization grew roughly in line with GDP. But from the 1980s onwards, it grew at a level that far outpaced GDP growth [0]. So investors who were already wealthy in the '60s had the capital necessary to take advantage. [0] The Big Bang: Stock Market Capitalization in the Long Run, 2022: https://doi.org/10.1016/j.jfineco.2021.09.008 https://doi.org/10.1016/j.jfineco.2021.09.008