I'm good at 'collecting' books 
Here is another.
Invest like Warren Buffett: How a newspaper delivery boy earned 58 billion dollars
Here is another.
Invest like Warren Buffett: How a newspaper delivery boy earned 58 billion dollars
Invest like Warren Buffett: Free ebook
- Thread starter devank
- Start date
I'm good at 'collecting' books
Here is another.
Invest like Warren Buffett: How a newspaper delivery boy earned 58 billion dollars
This one has been around for about 20 plus years,even today this book would help anyone along the way it was the turning point in my life when I read this book still have the signed copy from 1994..imho..
http://www.ebay.com.au/itm/How-To-S...pt=AU_Non_Fiction_Books_2&hash=item20e6e5b2be
http://www.hudson-institute.com/about-us.htm
Ozbargain member too?
I actually spend more because of that site!
Has anyone read it? Because i haven't
We all know how successfull he is but i really think a lot of people put too much emphasis on his quotes and actions
Eg people say bill gates used to like to buy all the hotels on mayfair avenue in monopoly
Like who doesn't!!!!
I know buffet likes to buy in gloom sell in boom
And a rising tide lifts all boats
And its better to overpay for a quality business as opposed to underpayibg for a dud business
Dis he so anyhing special? Or was it all a combination of luck, timing, being rich to start off with, having nerves of steel
Just curous, for the record i have the uttermost respect for him
We all know how successfull he is but i really think a lot of people put too much emphasis on his quotes and actions
Eg people say bill gates used to like to buy all the hotels on mayfair avenue in monopoly
Like who doesn't!!!!
I know buffet likes to buy in gloom sell in boom
And a rising tide lifts all boats
And its better to overpay for a quality business as opposed to underpayibg for a dud business
Dis he so anyhing special? Or was it all a combination of luck, timing, being rich to start off with, having nerves of steel
Just curous, for the record i have the uttermost respect for him
$200 invested in Westfield Holdings would have been worth $48million from the IPO to 2007 prior to it being stapled. 42 years compounded at 34.3%
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He has good principles but what set him a part is his ability to reinvest surplus cash at extremely high return rate ... He also has access to pretty much interest free capital via float in his insurance business.
this combination of access to cheap capital that enable him to leverage
without ever being get caught out in time of credit squeeze or rising interest rate or a whole raft of problems people leverage by borrowing from the banks.
he go to great distance to protect himself from a force seller, so basicly he doesn't have large banks debt... his access to leverage is his float from insurance business ...
I am pretty much doing the same ... I cant be a force seller, no debt, lot of cash surplus sitting at call account ... In time of stress I unload my capital to buy ...
A bit awkward wording there what I mean is he never put himself in a position he is force to sell his equity or business in crisis due to high debt load or credit squeeze or some other financial disaster events.
In fact it is usually the opposite, when he is debt free and he usually hold minimum 10bn cash but usually between 10-25bn he is a buyer from those who over leverage or got squeeze by credit.
Look at some of the deal he made when credit squeeze hit during GFC..no one has cash but Warren Buffett...he made some incredible deal with Goldman Sachs
10% interest for his money plus options to buy stock cheap! he virtually double his money in a few year with that deal.
When people in trouble and required cash injection they turn to him and he work out if he reject or snapped up the deal...
Imagine properties drop 20-30% most over leverage person would be stuffed and you can't buy any more even you know it is a bargain as banks won't lend you the cash! you maybe shitty in you pants sitting on negatives equity and wonder if banks recall the loans???someone with cash would just snapped up.
I would happily take either!
My understanding is that he has some principles that he sticks with in terms of which companies he likes to invest in.
I dont think any of his principles are earth shattering stuff but he sticks to it and over the long run has obviously done bloody well.
There's obviously more to it than just his rules though, a lot of luck, timing, good choices etc etc
I dont think any of his principles are earth shattering stuff but he sticks to it and over the long run has obviously done bloody well.
There's obviously more to it than just his rules though, a lot of luck, timing, good choices etc etc
Surely, if his success was dependent on luck it would have run out by now. He has been investing for what around 60+ years now. He must be the luckiest person on Earth to not have his luck run out for 60+ years.
Cheers,
Oracle.
the luck element does not have to have been there for the entire 60 yrs. a lot of very intelligent/successful people have needed a bit of luck to go their way when they kick things off.
Some people intrinsicly get it and others don't. Its not just abound understanding the posts, many are just foskly wisdom sayings, its both
(a) knowing how to adapt it into your decision making
(b) having the mental restraint to keep to it. To many people are easily distracted/scaired/greedy when 'b' plays the most important point.
I made good money out of business, I made excellent money in investing by understanding Buffett and I am not a buy and hold investor.
Yet there are cycles for everthing including investing, we are now in a cycle that's not really useful for me, so I am laying down relatively well.
Investment strategy is focused on diversified High Yield.
Business is on my mind with the next venture proceeding fast.
When the time is ripe I will have a one year holiday from business and go straight back to full time screen watching investing.
So long as the velocity of money keeps going along at a relatively quick pass, wealth gets accumulated quickly.
Are you waiting for a crash?
crashes come in many forms and have varying degrees of effect on the wider investment community.
In just the last 20 years we have had the:
*1987 global crash
*the Savings and loan crash in the USA
*the Asian Financial Crisis
*The dot.com crash
*Global Financial Crisis
So yes another one should be here in the next year or two. Its severity and centre of activity I don't know.
Theres not much value out in the markets at the moment, and too much central bank distortion of the natural pricing of assets.
So I am pretty passive (relative to my normal intensity) at the moment.
