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Re Warren Buffet:
> He really is an American success story.
Yep but he has more in common with Bill Gates than with (name your
favorite trader.) He buys busineses he understands, runs them well, and
makes the profits he is due as a successful CEO. He is the
fundamentalist's fundamentalist. He has never bought a tech company
because, as he says, he doesn't understand what they do.
About being so rich on "only" 24% return, that started out with a
healthy IPO of his privately owned insurance company. It's a lot easier
to become a multi-billionaire when you start with tens or hundreds of
millions. :-)
Those who want a good investment and don't want to fiddle with this
trading stuff could do a lot worse than buying and holding a few shares
of BRKA or BRKB -- at least as long as Warren is alive and running
things.
PS - a Warren anecdote, he still lives in the same relatively modest
house he had before he got so rich. He has improved it some but he has
never felt any desire to move into a trophy mansion. The guy is just too
cool. :-)
--
Dennis
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