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Getbig Main Boards => Gossip & Opinions => Topic started by: FitnessFrenzy on August 16, 2019, 12:25:46 PM
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how many getbiggers can top this?
(https://i.postimg.cc/fRMVYffp/CsHJNM9.jpg)
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Why am I not seeing the picture? Oh, there it is....took awhile to load. At no point in my lifetime was my financial worth what Warren Buffett's was an is. If great wealth meant more to me, I'd be envious of his accomplishments.
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How was he worth $67,000 in 2019 dollars already at age 14 ???
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How was he worth $67,000 in 2019 dollars already at age 14 ???
He saved tons and had a lot of side businesses after school (paper routes, delivery businesses, vending machines, etc....), plus he got involved in the stock and real estate market early, like at age 9 or 10. Also his family, while not mega rich, were decently well off.
Here's a decent HBO doc on him -
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How was he worth $67,000 in 2019 dollars already at age 14 ???
https://www.marketwatch.com/story/from-6000-to-67-billion-warren-buffetts-wealth-through-the-ages-2015-08-17
"His story is well told. Warren Buffett became a player in the investment game at the wee age of 11, eventually using cash he earned from his paper route to buy some farmland in his home state. As a high school sophomore, he also reaped the rewards of a booming pinball machine business.
By the time Buffett was 15, he already had a net worth of about $6,000."
$6,000 in 1944/45 is worth $87,000 & change today.
Buffett is brilliant. Not your average Getbigger.
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He saved tons and had a lot of side businesses after school (paper routes, delivery businesses, vending machines, etc....), plus he got involved in the stock and real estate market early, like at age 9 or 10. Also his family, while not mega rich, were decently well off.
Here's a decent HBO doc on him -
.
He was already more financially successful at that young age that most people will ever be at any age.
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https://www.marketwatch.com/story/from-6000-to-67-billion-warren-buffetts-wealth-through-the-ages-2015-08-17
"His story is well told. Warren Buffett became a player in the investment game at the wee age of 11, eventually using cash he earned from his paper route to buy some farmland in his home state. As a high school sophomore, he also reaped the rewards of a booming pinball machine business.
By the time Buffett was 15, he already had a net worth of about $6,000."
$6,000 in 1944/45 is worth $87,000 & change today.
Buffett is brilliant. Not your average Getbigger.
This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
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This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
WHAT? :o
Never mind, I thought you posted that everyone is one (an asshole).
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money makes money. ;D 8)
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money makes money. ;D 8)
true
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This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
Huh? Don't most people have an excuse?
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This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
Imagine how much more money Buffett could have made if he invested in selling t shirts :D
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He's very generous with his knowledge, like his teacher Ben Graham. He may downplay the importance of intelligence in investing, but his intelligence in is off the scales. It's actually very difficult to do what he did.
Don't underestimate his toughness in business either. He's crafted his public person to be affable, but when it comes to business nobody's tougher.
His daughter once asked him for a loan to remodel her kitchen. He said no. :D
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Huh? Don't most people have an excuse?
Yes, most people do but it doesn’t mean you have to be a Warren Buffet. Example is In oppressed areas excuses are made to not get out of that lifestyle.
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Imagine how much more money Buffett could have made if he invested in selling t shirts :D
You have problem with what I’m doing?
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This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
Warren Buffett proves everyone can be rich?
Isnt that like saying Eminem proves everyone can be a successful rapper....
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Warren Buffett proves everyone can be rich?
Isnt that like saying Eminem proves everyone can be a successful rapper....
Can’t even equate the two. Being “rich” or even economically well off depending on how you define it is a choice. The other is a talent.
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Warren Buffett proves everyone can be rich?
Isnt that like saying Eminem proves everyone can be a successful rapper....
To be fair, he didn't say everyone can be rich. He said "successful", which can be subjective. You don't need to be a millionaire (let alone a billionaire) to be well off.
That being said, not everyone can be successful. I used to think everyone could just by working harder. I was wrong.
Self made person = intelligence, hard work, leadership, luck. How often you see all of that on one person?
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Apparently he made alot of money betting on horses when he was very young. He even had his own newsletter at one time. He doesn't seem to want to talk about it much though.
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This alone PROVES that very few have an excuse to no be successful no matter your what your socio-economic background was/is. Excuses are like assholes...everyone has one.
White privilege
:D
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To be fair, he didn't say everyone can be rich. He said "successful", which can be subjective. You don't need to be a millionaire (let alone a billionaire) to be well off.
That being said, not everyone can be successful. I used to think everyone could just by working harder. I was wrong.
Self made person = intelligence, hard work, leadership, luck. How often you see all of that on one person?
Well those who live below the poverty level in the US wouldnt be considered poor in any other country. So success isnt even wealth based.
Warren Buffet is the richest (or among the top 10) man in America. I dont understand what his wealth proves. If anyone could be Buffett many would. There are more people who invest money than rap.
My point was both are gifted.
Being born poor in America, as opposed to Cambodia, can be seen as a gift. A person in either country can become rich but one has an easier starting point.
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You have problem with what I’m doing?
Bevo?
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He's very frugal, well-connected, and lucky
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I recommend the book "the snowball" about him by alice schroeder
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(http://www.financetwitter.com/wp-content/uploads/2018/02/Warren-Buffett-Counting-Money-Notes.jpg)
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He's very frugal, well-connected, and lucky
You're saying there is no skill involved? How is he well connected? He grew up in Omaha Nebraska and still lives there. Connections and luck had nothing to do with it. Like I said, the man's financial intelligence is off the charts.
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You're saying there is no skill involved? How is he well connected? He grew up in Omaha Nebraska and still lives there. Connections and luck had nothing to do with it. Like I said, the man's financial intelligence is off the charts.
There is always an element of "luck" or good fortune to any success in life. Buffett is a financial genius. Undoubtedly his superb decision making put him in contact with great financial minds. No man is an island unto himself.
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There is always an element of "luck" or good fortune to any success in life. Buffett is a financial genius. Undoubtedly his superb decision making put him in contact with great financial minds. No man is an island unto himself.
Ben Graham laid the foundation, but Buffett is well beyond Ben Graham. Luck doesn't enter into Buffett's equation because he's not taking any gambles. Buffett's probably read four hundred annual reports a year for the last fifty years. Understanding financial statements is like breathing for him.
His entire financial career regarding his partnership and Berkshire Hathaway is completely documented. Which of his investment decisions was luck? Was buying Berksire Hathaway luck? A struggling textile mill he had to wind down because it was unprofitable and couldn't compete.
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Bevo?
What’s the problem? You think Buffett could have made a few more millions selling t shirts?
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He's very generous with his knowledge, like his teacher Ben Graham. He may downplay the importance of intelligence in investing, but his intelligence in is off the scales. It's actually very difficult to do what he did.
Don't underestimate his toughness in business either. He's crafted his public person to be affable, but when it comes to business nobody's tougher.
His daughter once asked him for a loan to remodel her kitchen. He said no. :D
If that’s true, he’s a real dick head, I would def help out my family to a degree
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If that’s true, he’s a real dick head, I would def help out my family to a degree
She can pay for her own kitchen remodel.
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If that’s true, he’s a real dick head, I would def help out my family to a degree
He's leaving each of his kids $1 billion.
However, he wants them to stand on their own two feet until that time and not grow up worthless spoiled rich kids.
His kids have grown up to be responsible adults.
He's smart.
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Ben Graham laid the foundation, but Buffett is well beyond Ben Graham. Luck doesn't enter into Buffett's equation because he's not taking any gambles. Buffett's probably read four hundred annual reports a year for the last fifty years. Understanding financial statements is like breathing for him.
His entire financial career regarding his partnership and Berkshire Hathaway is completely documented. Which of his investment decisions was luck? Was buying Berksire Hathaway luck? A struggling textile mill he had to wind down because it was unprofitable and couldn't compete.
Fine.
There is no luck or extraneous circumstances involved in his success.
It wont be long before all the people Warren Buffett mentored start putting his teachings into practice and over take his wealth or are at least as competitive as him. He has been very influential in Lebron James financial life.
What were the circumstances that led to Ben Graham investing in Buffett?
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She can pay for her own kitchen remodel.
Why did she ask for a loan then?
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Plenty of people who have advantages growing up waste their opportunities and turn out worthless.
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Fine.
There is no luck or extraneous circumstances involved in his success.
It wont be long before all the people Warren Buffett mentored start putting his teachings into practice and over take his wealth or are at least as competitive as him. He has been very influential in Lebron James financial life.
What were the circumstances that led to Ben Graham investing in Buffett?
Ben Graham didn't invest in Buffett. Ben lost almost all his money on the stock market during the great depression. Shortly after, in 1934 he wrote the book Security analysis.
Buffet read the book the Intelligent Investor at the age of 19. When he found out Ben Graham was teaching at the Columbia business school he enrolled in their graduate program. When he graduated he offered to work at Ben's firm for free and was turned down.
Berkshire's annual shareholders meetings are like a class in how to invest, as is the annual report.
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Ben Graham didn't invest in Buffett. Ben lost almost all his money on the stock market during the great depression. Shortly after, in 1934 he wrote the book Security analysis.
Buffet read the book the Intelligent Investor at the age of 19. When he found out Ben Graham was teaching at the Columbia business school he enrolled in their graduate program. When he graduated he offered to work at Ben's firm for free and was turned down.
Berkshire's annual shareholders meetings are like a class in how to invest, as is the annual report.
Thank you.
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Why did she ask for a loan then?
She didn't know her family was rich till she was 22 years old. She had a middle class upbringing in Omaha.
https://www.insider.com/susan-buffett-when-she-knew-father-warren-was-rich-2017-1 (https://www.insider.com/susan-buffett-when-she-knew-father-warren-was-rich-2017-1)
He gave his children 75 cents a week for allowance. Once, when his daughter, Susan, asked her father for a $41,000 loan to renovate her kitchen after she had a child, he refused, telling her to "go to the bank like everyone else."
https://www.theglobeandmail.com/life/relationships/peter-buffetts-rich-life-doesnt-come-from-family-wealth/article4255258/ (https://www.theglobeandmail.com/life/relationships/peter-buffetts-rich-life-doesnt-come-from-family-wealth/article4255258/)
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She didn't know her family was rich till she was 22 years old. She had a middle class upbringing in Omaha.
https://www.insider.com/susan-buffett-when-she-knew-father-warren-was-rich-2017-1 (https://www.insider.com/susan-buffett-when-she-knew-father-warren-was-rich-2017-1)
He gave his children 75 cents a week for allowance. Once, when his daughter, Susan, asked her father for a $41,000 loan to renovate her kitchen after she had a child, he refused, telling her to "go to the bank like everyone else."
https://www.theglobeandmail.com/life/relationships/peter-buffetts-rich-life-doesnt-come-from-family-wealth/article4255258/ (https://www.theglobeandmail.com/life/relationships/peter-buffetts-rich-life-doesnt-come-from-family-wealth/article4255258/)
Thats interesting. Did his children turn out to be "normal", responsible (productive members of society and not bitter towards their father)?
Has Buffet ever disclosed his reasons for amassing so much wealth if he wasnt going to use and enjoy it?
Side note I read he is the son of a US Congressman.
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Thats interesting. Did his children turn out to be "normal", responsible (productive members of society and not bitter towards their father)?
Has Buffet ever disclosed his reasons for amassing so much wealth if he wasnt going to use and enjoy it?
Side note I read he is the son of a US Congressman.
Buffett's kid's aren't at all bitter towards their father and they are very normal productive people. He didn't want his kids to be spoiled rich kids and can you blame him.
Money is everything to Warren and nothing. He cares very much about the earnings of his companies, but he still lives in the house he bought in the 50's. That's part of the reason he's so wealthy today. He just didn't spend his money. What he likes is owning businesses.
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Buffett's kid's aren't at all bitter towards their father and they are very normal productive people. He didn't want his kids to be spoiled rich kids and can you blame him.
Money is everything to Warren and nothing. He cares very much about the earnings of his companies, but he still lives in the house he bought in the 50's. That's part of the reason he's so wealthy today. He just didn't spend his money. What he likes is owning businesses.
Whatever floats his boat. I think I'd want to enjoy the fruits of my labor a bit more.
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Dude eats a $3 breakfast at McDonald's each day.
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Dude eats a $3 breakfast at McDonald's each day.
It's nice to know that we have something in common.
Or how about being rich doesnt mean you have good tatse?
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Dude eats a $3 breakfast at McDonald's each day.
He could have done what ESF does and spend 600/700 dollars a month on sushi
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He could have done what ESF does and spend 600/700 dollars a month on sushi
......or 120K on heroin ! LOL ;D
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......or 120K on heroin ! LOL ;D
Haha ;D
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Buffett has fun making money grow, That's his thing. Making more and more money is a game for him.
Spending it is not his thing. He is not into buying lots of stuff. He is not competitive in that way of showing off his wealth like those who blow all their money and end up broke.
He doesn't use a computer (his secretary does).
He has great patience and is a cool cucumber about money.
If he doesn't see a good deal he just waits until he finds one. Better no deal than a bad deal. He is patient.
His company sits on a huge pile of cash because there are no great deals to be had right now.
He has made a few great deals over the years that have increased his wealth a lot (Coca-Cola, Geico).
He's also made some some not so great deals that didn't do that well.
He has pledged to donate most of his wealth to the Gates Foundation but not until he dies so he can continue to make even more money with it.
The average person can learn from Buffett but can never be another Buffett. Buffett is an outlier. He is very smart. Way smarter than the average investor. Way more emotionally strong than the average investor.
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Buffett has fun making money grow, That's his thing. Making more and more money is a game for him.
Spending it is not his thing. He is not into buying lots of stuff. He is not competitive in that way of showing off his wealth like those who blow all their money and end up broke.
He doesn't use a computer (his secretary does).
He has great patience and is a cool cucumber about money.
If he doesn't see a good deal he just waits until he finds one. Better no deal than a bad deal. He is patient.
His company sits on a huge pile of cash because there are no great deals to be had right now.
He has made a few great deals over the years that have increased his wealth a lot (Coca-Cola, Geico).
He's also made some some not so great deals that didn't do that well.
He has pledged to donate most of his wealth to the Gates Foundation but not until he dies so he can continue to make even more money with it.
The average person can learn from Buffett but can never be another Buffett. Buffett is an outlier. He is very smart. Way smarter than the average investor. Way more emotionally strong than the average investor.
Very well said.
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Buffett has fun making money grow, That's his thing. Making more and more money is a game for him.
Spending it is not his thing. He is not into buying lots of stuff. He is not competitive in that way of showing off his wealth like those who blow all their money and end up broke.
He doesn't use a computer (his secretary does).
He has great patience and is a cool cucumber about money.
If he doesn't see a good deal he just waits until he finds one. Better no deal than a bad deal. He is patient.
His company sits on a huge pile of cash because there are no great deals to be had right now.
He has made a few great deals over the years that have increased his wealth a lot (Coca-Cola, Geico).
He's also made some some not so great deals that didn't do that well.
He has pledged to donate most of his wealth to the Gates Foundation but not until he dies so he can continue to make even more money with it.
The average person can learn from Buffett but can never be another Buffett. Buffett is an outlier. He is very smart. Way smarter than the average investor. Way more emotionally strong than the average investor.
"Spending it is not his thing" You said that he has fun making money, yet wont spend!? Then, why have it?
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Buffett has fun making money grow, That's his thing. Making more and more money is a game for him.
Spending it is not his thing. He is not into buying lots of stuff. He is not competitive in that way of showing off his wealth like those who blow all their money and end up broke.
He doesn't use a computer (his secretary does).
He has great patience and is a cool cucumber about money.
If he doesn't see a good deal he just waits until he finds one. Better no deal than a bad deal. He is patient.
His company sits on a huge pile of cash because there are no great deals to be had right now.
He has made a few great deals over the years that have increased his wealth a lot (Coca-Cola, Geico).
He's also made some some not so great deals that didn't do that well.
He has pledged to donate most of his wealth to the Gates Foundation but not until he dies so he can continue to make even more money with it.
The average person can learn from Buffett but can never be another Buffett. Buffett is an outlier. He is very smart. Way smarter than the average investor. Way more emotionally strong than the average investor.
He can spot a crook from a mile away. He knows all CEO's, managements, and the boards dirty tricks and dirty secrets.
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"Spending it is not his thing" You said that he has fun making money, yet wont spend!? Then, why have it?
Some people love to spend money they don't have so I guess he's the opposite,
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Thats interesting. Did his children turn out to be "normal", responsible (productive members of society and not bitter towards their father)?
Has Buffet ever disclosed his reasons for amassing so much wealth if he wasnt going to use and enjoy it?
Side note I read he is the son of a US Congressman.
he hoards money, probably loses sleep knowing 2 people bill gates and jeff bezos have more
still lives in the same somewhat modest nebraska house he bought over 50 years ago, what the hell is the point in being a billionaire if you live like you make 70k a year?
i don't think it's about not spoiling the kids, he just has to hoard as much money as possible for ego reasons
E
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he hoards money, probably loses sleep knowing 2 people bill gates and jeff bezos have more
still lives in the same somewhat modest nebraska house he bought over 50 years ago, what the hell is the point in being a billionaire if you live like you make 70k a year?
i don't think it's about not spoiling the kids, he just has to hoard as much money as possible for ego reasons
E
I agree
It’s all in the ego for him, haha he must have nightmares over bezos and Gates, what a problem to have
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Buffett owned two houses for a lot of his life, he just happens to really like Nebraska -
Nebraska house -
(https://c2.vgtstatic.com/thumbll/1/7/17133-v5-xl/warren-buffetts-house.jpg).
The California house he owned for 35 - 40 years, and sold a few years ago -
(https://i.ytimg.com/vi/AGATvuR6ZQQ/maxresdefault.jpg).
Also, I'm sure there are corporate properties owned all over that he could have use of.
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His house is 6,570 sq. ft.
It's not some post-war cape cod in Levittown.
Front view...
(http://www4.pictures.zimbio.com/pc/Warren+Buffett+Worlds+3rd+richest+man+still+5BBHaXPy2Rox.jpg)