so how high does forbes rank you on the rich list?
Man Tries to Break Into WARREN Buffett's Home
- Thread starter HedgefundTrader2
- Start date
so how high does forbes rank you on the rich list?
It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.
-Mark Twain
That quote doesn't applies to me. So you got to dig it up something else.
Forbes ranks people based on networth. But if I had the networth of Warren Buffet, I wouldn't be living in a non descript house on Elm street and let strangers knock on my doors and bang me up when they wanted.
You have to under stand Warren Buffet is worth more than LARRY ELLISON + DONALD TRUMPH combined! Yet he lives like a miser drives his own Buick and doesn't have a cell phone and a computer. ( I mean what is this cell phone phobia?) He probably buys newspaper at the corner grocery store and looks up stock prices?
No, you're absolutely right. Saying things like "What puzzles me why Warren Buffets and value investors only make 20-30% returns a year? Why? Even an ordinary mutual funds like PRLAX, MALTX does better than Warren Buffet" are just pure genius. This quote has it all, misspellings, misused words, questionable facts, in short, a real ET classic. You go buy some MALTX, I'll stick with Warren. Talk to me in 20 years, just don't ding my Jag when you park it.
Warren Buffet himself says that investors should use INDEX FUNDS / mutual funds. Why? Because he knows they deliver lot more than himself.
Besides in this thread lots of personality traits came out making me a little bit sick feeling how helpless he is with his wealth, he can't even use it. Can't even hire a chauffer and buy a cell phone and a computer!
Ingvar Kamprad (the 4th richest man) drives 15-year old Volvo (that is if he is not riding a bus at seniors discount).
http://www.forbesautos.com/advice/toptens/billionaire/05-ingvar_kamprad.html
http://en.wikipedia.org/wiki/Ingvar_Kamprad
http://www.buzzle.com/articles/120793.html
http://www.forbesautos.com/advice/toptens/billionaire/05-ingvar_kamprad.html
http://en.wikipedia.org/wiki/Ingvar_Kamprad
http://www.buzzle.com/articles/120793.html
It appears all these top 5 richest people are also top cheapskates and pitiable misers and some ways sickly behaving.
There must be some inherent gene or deep rooted insecurity that drives them to the edge of insanity, and they go after accumulating pennies into mountains. It must be some common sickness, that can be easily analyzed and written about in a great book. A common man does not accumulates this much money and does not holds on to it so strongly either.
Donald Trumph, Larry Ellison, Hugh Hefner dont fall into this category. These men have a way to flaunt wealth and fame to the point it hurts in your face. But consider WARREN BUFFET whose is richer than all the 3 men listed above , yet this dude does not have a cell phone and a chauffeur and lives in a poor mans house that he paid $31,000 some 4 decades ago.
Making 6-9% a month isn't hard when your capital is low. Hell, I made a 100% return yesterday on my football picks. With your logic, I can parlay that into ever increasing bets and be a billionaire in a few years. You do bring up Latin America which has beaten the market over the past 5 years. Why not go back 10 and 20 years and check those returns against BRK?
Not that you'll ever get there but I'd like to see you maintain your return - and of course part time driver - when you move from 1 lots to 1000 lots.
This is the most asinine thread I've ever read. Just because someone decides not to flaunt their wealth doesn't mean they should be criticized. Buffet is and will be doing phenomenal things for this world with his charity. Every penny he saves just may make this world a better place.