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A Back to Basics Weekend With Warren Buffett
- nazgulnarsil 17y agomy financial advice: stop worshiping statistical outliers and start studying the average millionaire.
- eru 17y agoIsn't this what "Think and Grow Rich" (http://en.wikipedia.org/wiki/Think_and_Grow_Rich http://en.wikipedia.org/wiki/Think_and_Grow_Rich) did? At least partly.
- ewanmcteagle 17y agoBuffett's argument is that he's not a statistical outlier. That others who have taken his approach to investing have also been able to achieve larger than expected gains over time.
- nazgulnarsil 17y agoI'm not saying buffet isn't a good example to follow. but the reason he's a good example to follow doesn't stem from his huge success. I'm addressing the underlying error in thinking. It's like religion. Religion in general isn't the problem, it's a symptom of the underlying issue that people accept wild claims without evidence. Here too I'm sure a lot of people see Buffet's success and accept what he says without closely examining the claims. You might ask "what's the point of seeking advice from people more knowledgeable than you if you judge the advice by your own inferior metrics?" that's a whole 'nother discussion.
- byrneseyeview 17y agoI can't think of anything in The Millionaire Next Door that doesn't apply to Buffett. He's particularly good at it, and really good at explaining it.