4 ms·
Buffett lies. He had much better investments. I likes to tell us all stories. The big-finance reality is much more inside-tradingish than he wants us all to bel
by cies 2y ago
Buffett lies. He had much better investments. I likes to tell us all stories. The big-finance reality is much more inside-tradingish than he wants us all to believe.
- wsatb 2y agoBest doesn’t need to mean best investment. Best could simply mean what he enjoyed most. He likely thinks fondly of a simpler time.
- cies 2y agoLike i said, he likes to tell us stories.
- Der_Einzige 2y agoFor just a tiny example of the "big-finance reality is much more inside-tradingish", see: https://en.wikipedia.org/wiki/Expert_network https://en.wikipedia.org/wiki/Expert_network Expert networks are an example of a side-gig which would compete with traditional "passive income" stuff for talanted tech folks.
- btilly 2y agoWhat investments do you think were better? He's had far more income from other investments. But he turned $25 into $2000 in 3 years. That's around 331% profit per year, compounding annually. Given that he likes to invest in relatively mature companies, I can easily believe that no other investment ever showed a greater annualized return. (Of course this calculation discounts his personal investment of time to run the business.)
- 0cf8612b2e1e 2y agoI assume he has to invest in established companies just as a practical matter. If you have $50k, you can put it anywhere from the local donut shop to Apple. If you want to invest $50 billion, your options are significantly more limited on what you can do without outright owning the target company.
- nsbshssh 2y agoI turned $0 into $100k this year. Infinite return if you exclude personal effort.
- llm_trw 2y ago>But he turned $25 into $2000 in 3 years. That's around 331% profit per year, compounding annually. You run out of barbers rather quickly.
- jgalt212 2y agoHe makes all his money from leverage. But instead of borrowing from banks or the capital markets whose willingness to roll over debts can be fickle, he borrows via the premia his insurance companies collect. Away from this passive income has a terrible tax profile--unless you employ leverage (see above).