Imagine a hypothetical - Warren suddenly reverts to his 20 year old self, but in today's world. He loses all his wealth and assets, and starts again with the same equivalent wealth (adj for inflation) he had when he was originally 20.
Let's give him the added advantage of retaining all his life knowledge and experience from his old self.
Only thing that's changed is that he's physically young again and is starting over money-wise.
Could he replicate his success? In 60 years from now could he be a multi-millionaire, billionaire, or even one of the richest men in the world again?
Or was it mostly down to luck and timing, and he'd just end up another wagie with a modest investment portfolio?
I shorted Berkshire with a 25 x leverage because fuck Waren Buffet he is an ancient dinosaur. Made $1.7 million and I am about to go back in shorting the living shit out of it.
Benjamin Hernandez
It wasn't even luck, Buffets first big win was essentially insider trading, it just happened well before insider trading was at all regulated. Then he recognized the value of index investing early on, while other smarter minds conceived of it.
Jonathan Morgan
of course not
everything is illegal now - all the businesses that made him rich would have to have diversity hires and hr departments and overseas call centers and the list goes on and on
it's over for america, that's why he is in so much cash
David Morris
Why is he against gold? I imagie 130 billion in gold is hard to liquidate or store but why in general?
Oliver Reed
he doesn't really accept the gold as money view
which you have to to invest in gold
he quotes about "costing money to dig it up and then costs money to store it securely"
its a peculiar attitude that you only find in America who want to be utilitarian about everything economics, which is noble. But the growth story for america is starting to be univestable, as evidenced by his pile of cash.
At this point you "invest" in bubbles and trends. No one is actually looking into the stock market to find value which is Buffet's claim to fame
Austin Fisher
Because gold is only useful to preserve wealth, but you usually don't earn money buying gold.
Jace Sanchez
Do you really want to know or is it yet another circlejerk thread for jealous losers?
Lucas Williams
This. His biography is an interesting read, and he certainly is a good fundamentals trader but he's overblown.
Gavin Allen
What compels a man who already has billions upon billions of dollars to continue investing and working? Especially when old as fuck.
Isn't it far more logical to, as soon as you have more wealth than you could ever possibly spend, to just retire and live a life of peace and luxury away from all the bullshit? Otherwise what's the fucking point?
Kayden Mitchell
he doesn't seem to be that into luxury desu
Jace Harris
He said repeatedly he loved this sort of life even when losing a few thousand dollars was a huge deal for him. If he kept everything a secret and lived like a recluse the same people would attack him for it and compare him to Epstein or whoever. You can't win with vulgar people.
Wyatt Moore
Which just makes my question all the more poignant. Why does he even bother? The whole point of working is to earn money to live whatever lifestyle you're aiming for. If you already have billions - especially if you don't care for an ultra-luxurious lifestyle - then why not just quit early on when you already have enough "fuck you money" and just live a peaceful life?
its a game, winning gives him dopamine in the brain and thats a motivation to keep going
Chase Fisher
Retiring when you're already a billionaire != living like a recluse. I just don't understand the motive to continue going with this sort of thing when you already have more money then you'd ever know what to do with. This goes for more than just Warren too.
Jace Adams
There are two kinds of people: People that are able to earn more wealth they could ever possibly spend (minority) And people that want to retire and live a life of peace and luxury away from all the bullshit (majority) There is no overlap.
Isaac Davis
Right, but why? Writing off this mindset as "just looking for a dopamine hit" like said doesn't seem like a satisfactory answer to their behavior.
Ryan Martinez
I think it's pretty ridiculous to think you can luck your way into a consistent 20+% return for 50 years
.Because gold doesn't produce anything. All you can do with gold is hope someone else is willing to pay more for it than you did. With a company you have a product being sold, you have a businesses structure you can improve, there's ways to grow it, therefore owning companies is a better investment strategy. If you get paid a dividend you never have to sell the stock so the price of the stock also is largely irrelevant.
You can't be the best at something if you don't love it. Retiring is one of the worst things you can do. Having goals, duties, and other drivers to keep him going is probably the only reason he's even 89 years old. Sitting on the couch drinking beers is the miserable thing I can think of.
Bentley Ortiz
>why does dopamine in the brain motivate people google it, im not going to spoonfeed you shit you should already know
Aiden Young
>Could he replicate his success if he were to start over again? no. we arent at the start of a stock market bull run. also his corrupt politition father isnt alive to give him insider tips and money to invest from selling out his country to rich friends
Josiah Powell
Because he enjoys doing it retard
Anthony Thomas
You are the devil trying to make a deal with him, aren't you?
Connor Allen
He has disparaged gold a lot, but also he has talked many times about the idea of understanding your circle of competence, and staying within that circle.
Buffett grew up and spent his entire career within the realm of fiat money and expansive growth that was allowed to proceed unhindered because of a vast unlocking of energy stores mixed with a money supply that was decoupled from physical assets. In a period of easy oil, if we had retained a sound money policy, growth would have been far lower. He has seen and lived the benefits of this policy.
Another reason he is skeptical of gold is because his father was an ardent advocate of sound money, and Warren saw that it took him nowhere. His father thought Roosevelt was going to hyperinflate the currency and destroy the economy, and spent a fair amount of his family’s wealth on things like Persian rugs, crystal chandeliers from France, and yes, lots of gold.
So there are reasons why he says what he says. I think Warren believes that this sort of relationship of easy money not getting in the way of economic growth will proceed forever, but I am skeptical, and this time it is because our energy sources are the problem. The period of easy oil is over, and is more akin to a mining operation nowadays. We can extract it is vast quantities at present, sure, but it is much more costly to do so and is only hap right now due to market manipulation and unsustainable financial engineering. The future is scarce, right oil with every county in the world aspiring to live like 1950s America. Lots of conflict, high priced hydrocarbons, and scarcity, and unless this changes because of a novel innovation, such as the mass adoption of new technology like cold fusion, sound money will have to return.
So I think it’s likely gold in the interim but this will quickly transition to a carbon money protocol where the currency we transact with is an enforced regime of carbon neutralization. Read Technocracy Study Course.
Next they are going to explain to us how you can manipulate the world into becoming a congressman. And how easy it was for everyone born in 1903.
Ayden Murphy
>why People in group A... want to do something.. they are driven. You meet them sometimes. Here's an example. Im a software developer. Its Sunday, im aint doing shit now. My boss... There is a very high degree of probability he's doing some work-related research&coding right now. There's no deadline, or anyone above him making him. he simply wants to, thats all there is to it.
One could make an argument >why do you want to sit doing nothing, instead of always trying to improve yourself?
Austin James
La basta
Liam Parker
>Technocracy Study Course. Great post user. Do you have any other recommendations on stuff to read? Want to learn more about where your thought process comes from
Gavin Gonzalez
Maybe? The kinds of beginning moves he made aren't possible now, though, and the world that he was investing in hasn't existed for a long time - the whole 'value investing" thing would be hard to pull off these days, getting started like he did - he bought in pre-boom for several industries.
Ian Gray
Let's imagine that around the time of Buffet, there were 10,000 boomers like him, all investing and trying to get rich (probably more, but let's go with it).
Now if we take said Boomers and replace them with monkeys who throw darts on a board to decide when/what to buy/sell, etc. Over a period of 20-30 years you will get some that will have beaten the market and of those, you might get even get a few who outperform the market by a large margin.
What the people who sternly believe it wasn't luck don't get, is that with enough boomers making big bets, enough insider trades and enough time, you can have another Warren Buffet.
Even if he truly 'made it' by skill alone, his advice is meme tier and it seems like he can't tell us the full truth. He comes across as the Jeb Bush of investing. Who is your greatest hero: 'my wife'.
And that's probably why he's your boss. I think one of the real challenges in the professional and working world is being able to monetize what you're passionate about. It's especially challenging when you're older and would have to take a significant number of steps back to make a jump into another industry.
Parker Brooks
Yet there are no other warren buffets and there's no billionaire zoo keepers either.
