The Oracle talks about his real estate investments, amongst other things.
http://finance.fortune.cnn.com/2014/02/24/warren-buffett-berkshire-letter/
http://finance.fortune.cnn.com/2014/02/24/warren-buffett-berkshire-letter/
Buffett's annual letter
- Thread starter Graemsay
- Start date
Thanks for the link, Buffet will always be a legend. This particular point is valid for many people posting here:
"You don?t need to be an expert in order to achieve satisfactory investment returns. But if you aren?t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don?t swing for the fences. When promised quick profits, respond with a quick ?no.?"
"You don?t need to be an expert in order to achieve satisfactory investment returns. But if you aren?t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don?t swing for the fences. When promised quick profits, respond with a quick ?no.?"
I thought you were very much a macro person and would sell out of RE especially in Oz because of the spiel of the bubble crowd? Buffett seems to have a simple philosophy of looking at primary pictures of earnings and business trends to overwrite what he thought was 'chatter' from the GD crowd. Nevertheless, he considered the 'chatter' to be useful for the opportunities it can offer in his financial considerations.
Thanks for linking to Buffet's talk. What a generous man in freely giving of his advice. He complimented Ben Graham for the value of his pivotal contribution to his understanding of the financial world:
"I can't remember what I paid for that first copy of The Intelligent Investor. Whatever the cost, it would underscore the truth of Ben's adage: Price is what you pay; value is what you get. Of all the investments I ever made, buying Ben's book was the best (except for my purchase of two marriage licenses)."
If Buffet is truly appreciative of his marriages, it would reflect the muse of the wisest man's pronouncement - " two are better than one, for they have a good return for their work ... but pity the man who falls and has no one to help up."
There are a couple of pieces elsewhere where its stated his first real estate investment was a 40 acre farm in Nebrsaka, purchased before he left high school and leased to a farmer
It's said it cost $1,200 and he took that money from his $5,000 newspaper round earnings at the age of 14
$5,000 in 1947 is about equal to $54k nowadays though
