Has anyone seen Warren Buffets house ?

Saw a clip on the barefoot investor today.

Buffet bought his house in 59 I think they said , might have been 69 or somewhere around that, for 32 k I think it was . It's just a simple modest suburban house . He reckons his always been happy in that house so why buy another just because he could , fair enough !
But I wondered , that seems a lot back then in US prices for that type of house and with their bust , all this time later I wonder what it would be worth now.
It seems like you can still get a very nice house for 32k there these days , just curious . I know many have said here that there are huge area factors with the cheap houses over there right now.

He also said his dad told him it doesn't matter what you choose to do in life as long as you follow your passion , the rest will fall into place .
Sounds like a good strategy for life doesn't it , wise words , certainly worked for him. But when I followed mine it sent us broke, so it ain't always as easy or practical as it sounds that's for sure .

Just thoughts
Cheers
 
Saw a clip on the barefoot investor today.

Buffet bought his house in 59 I think they said , might have been 69 or somewhere around that, for 32 k I think it was . It's just a simple modest suburban house . He reckons his always been happy in that house so why buy another just because he could , fair enough !
But I wondered , that seems a lot back then in US prices for that type of house and with their bust , all this time later I wonder what it would be worth now.
It seems like you can still get a very nice house for 32k there these days , just curious . I know many have said here that there are huge area factors with the cheap houses over there right now.

He also said his dad told him it doesn't matter what you choose to do in life as long as you follow your passion , the rest will fall into place .
Sounds like a good strategy for life doesn't it , wise words , certainly worked for him. But when I followed mine it sent us broke, so it ain't always as easy or practical as it sounds that's for sure .

Just thoughts
Cheers

http://newsbird.wordpress.com/2009/...n-buffett-whose-net-worth-is-over-36-billion/
 

Where do these idiots get this information from?
He did'nt "give away 30B" and would not be worth 77B.

According to Forbes:
2006 Buffet = 32B
2007 = 52B
2008 = 62B
2009 = 37B
He lost 25 Billion in 12 mths when the market crashed.
He backed the bail out because he owns shares in the banks, he got a sweetheart insider deal to buy more as well.
He also owns 20% in Moodys, yep the ratings agency that rated and valued all that subprime rubbish and a lot of other junk.
He's like the capitalist hero, but over the years the more i find out about him, the more dodgy he seems.
And he was born son of a wealthy senator with a golden spoon.
 
Where do these idiots get this information from?
He did'nt "give away 30B" and would not be worth 77B.

A clarification for my blog:

Idiots can find information at http://www.gatesfoundation.org/about/pages/implementing-warren-buffetts-gift.aspx

On June 26, 2006, Warren Buffett announced he would start giving much of his fortune to philanthropic causes, including a pledge to donate 10 million shares of Berkshire Hathaway Inc. stock to the Bill & Melinda Gates Foundation Asset Trust.​

10 million shares in 2006 had an estimated value of $30 billion.

You are right maybe that the donated shares are still counted as part of his net worth since these shares are not given at one time, but staggered over several years.

His net worth fluctuates as does the value of his total donation -- a blog post represents only a point in time.
 
Where do these idiots get this information from?
He did'nt "give away 30B" and would not be worth 77B.

According to Forbes:
2006 Buffet = 32B
2007 = 52B
2008 = 62B
2009 = 37B
He lost 25 Billion in 12 mths when the market crashed.
He backed the bail out because he owns shares in the banks, he got a sweetheart insider deal to buy more as well.
He also owns 20% in Moodys, yep the ratings agency that rated and valued all that subprime rubbish and a lot of other junk.
He's like the capitalist hero, but over the years the more i find out about him, the more dodgy he seems.
And he was born son of a wealthy senator with a golden spoon.


Really , uh hu ! I know nothing about him to be honest & this clip went that fast as they usually do .
But they reckoned his worth in the 70's bill' & actually made billions through the bust, while everyone else lost .
Just goes to show once again doesn't it , it all depends on who's telling the story .
Another thing I came away thinking was in being amazed at what a sweet old bugar he seemed , considering his business . So there ya go maybe not so after all eh !

Cheers
 
WB was interviewed by the "Barefoot Investor" Scott Pape.

It was shown in part on the 7.00 Project last week.

It looked quite plain and comfortable, and had a sec hand 4x4 parked out the front.

When asked why he didn't buy a new house and car, WB responded with "I don't need it".

Now, even I (being a bit frugal - Scottish heritage) would see my way clear to buy a couple of strategically placed holiday mansions around the world, and a few mill on the PPoR if I had $50bill.

Oh; and maybe a top-of-the-range beemer or merc etc.

He really does need a smack around the ears.
 
WB was interviewed by the "Barefoot Investor" Scott Pape.

It was shown in part on the 7.00 Project last week.

It looked quite plain and comfortable, and had a sec hand 4x4 parked out the front.

When asked why he didn't buy a new house and car, WB responded with "I don't need it".

Now, even I (being a bit frugal - Scottish heritage) would see my way clear to buy a couple of strategically placed holiday mansions around the world, and a few mill on the PPoR if I had $50bill.

Oh; and maybe a top-of-the-range beemer or merc etc.

He really does need a smack around the ears.

its this clarity of thought that allows him to generate the kind of long term returns he achieves.
Its not just the cost of the current new car, its the opportunity loss forgone of investing that money with compounded returns.

Over the last 40 odd years he has managed to generate a long term return of around 20% a year (some years less, some more but its around this figure).


I understand the man, but i could never do this myself.
 
Bill and Warren still get out and enjoy life though, its not all cash and cards

 
Talking of Master Barefoot...does anyone know if he is qualified in the hands on practical investment sense himself or is he just merely a text book theorist employed journalist? I guess Im asking is he financially independent and doesnt need to be employed to gain income?
 
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Talking of Master Barefoot...does anyone know if he is qualified in the hands on practical investment sense himself or is he just merely a text book theorist employed journalist? I guess Im asking is he financially independent and doesnt need to be employed to gain income?

Not sure if you saw his article on the ING evergreen interest only loan in Herald Sun on Sat.

It was full of inaccuracies and at times actually slanderous.

He made 5 points all of which were wrong

It is scary people listen to him especially the first home buyers he advised not to buy in melb and syd 12-18 months ago

I wrote a reply on his blog pointing out all the mistakes with the article but unfortunately it did not make it past his moderator and onto the site.

I have never replied to a newspaper article before but that really annoyed me into action,

Cheers

BT
 
He also owns 20% in Moodys, yep the ratings agency that rated and valued all that subprime rubbish and a lot of other junk.
He's like the capitalist hero, but over the years the more i find out about him, the more dodgy he seems.

The key difference is that now Moodys has a new senior management team and board.
 
WB did not only understand the future value of money invested vs. spending on things he "did not need" but here is what made the biggest impression on me about his ability to see clearly into the future:
Warren Buffett famously described derivatives bought speculatively as "financial weapons of mass destruction." In Berkshire Hathaway's annual report to shareholders in 2002, he said, "Unless derivatives contracts are collateralized or guaranteed, their ultimate value also depends on the creditworthiness of the counterparties to them. In the meantime, though, before a contract is settled, the counterparties record profits and losses—often huge in amount—in their current earnings statements without so much as a penny changing hands. The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen).​
That was 6 years before common wisdom saw the crisis coming. The nominal value of derivatives mid-2008 was almost $150 trillion - since these are essentially bets, many of them cancel each other out. The remaining toxic paper out there represents a great risk to the financial systems. And there is little or no regulation.

Moody's and all the other rating agencies were rating the bundled mortgages. The general idea back then was that there was little or no risk with these bundles because most people did not see bubbles bursting in the future.

As late as June 2008, the chief culprit associated with the Freddie Mac and Fannie Mae disasters, Barney Frank kept insisting there was nothing alarming about huge Q1 and Q2 losses at Freddie and Fannie, they looked solid going forwards (he should have been fired or sent to prison alreary), assuring people so well that they kept investing in more stock. Frank ignored many brilliant economists who had been predicting the crisis during 2005-2008.

Barney Frank has been a Congressman-D since 1981. Almost 30 years. Frank became the chairman of the House Financial Services Committee in 2007 after the Democratic Party won a majority in the House. The committee oversees the entire financial services industry. He graduated from Harvard Law School, in 1977. His early career looks a lot like Obama’s. We have to set term limits. Frank tried to create a federally insured bond market after FM & FM failed but by now federal guarantees were hard to sell to anyone.

Barney Frank is the poster boy for what is wrong in our government.
 
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