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/biz/ - Business & Finance


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3032694 No.3032694 [Reply] [Original]

If this genius of capitalism became a billionaire why can't we be billionaires too?
https://www.youtube.com/watch?v=qTxPfxmkLIY

>> No.3032760

>>3032694
Most people here arent geniuses of capitalism? Have you read the average /biz/ post?

>> No.3032762

>>3032694
did this shit just selfbump, fuck this cunt

>> No.3032879
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3032879

>>3032694
He did quite well in the stock market. There will always be lows and highs, even for him. The guy regretted a lot of investments too particularly on not investing in CNBC.

>> No.3032916

I can almost guarantee he has atleast 1 Bitcoin

>> No.3032962

>>3032762
Fuck you motherfucker

>> No.3032989

>>3032694
Because he lived frugally and compounded his earnings over 6 decades. /biz/ is nothing but weak hands and instant gratification basement dwellers, or at least it was until 6 months ago when it became flooded by shitcoin shills and pajeets playing the "hello fellow daytraders" card

>> No.3033023

Buffet is too old to get Bitcoin.

>> No.3033052
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3033052

>>3032989
It has always been like that when we were still at /g/.

>> No.3033558

I have always wondered how Buffet got so rich. He said he had $10 000 to invest after college. How do you turn $10 000 (even accounting for inflation) to BILLIONS in 6 decades? Did he have a real job? How did you keep funding his investment, I don't understand.

I have thought about putting aside $1000 every month into investing, and I don't even imagine this money to be 1% of Buffets wealth in 4-5 decades from now. Is it possible? Please teach me Biz. I'm very patient and frugal.

>> No.3033609

>>3032694


because he lived and succeeded BEFORE central banks all over the planet completely drowned the planet in papermoney ...

>> No.3033611

>>3033558
Mafia / Childtrafficking / investing in defense sec

No one gets this rich without illegal shit

>> No.3033614

>>3032694
He is accumulating you fucking retards.
Who the fuck cares is it's not a currency? It's a good investment.

>> No.3033641

>>3032694
>daily reminder that this is the same guy that said he didnt invest in Microsoft because he didnt understand the tech

why would anyone take his opinion on new tech seriously ? I think he is just a tech-illiterate old man, he might know economics but since he doesnt even begin to understand the tech behind it his evaluation is useless imo.

>> No.3033646

>>3033614
this
he is just paying some retarded weeb 10k bucks a month to do the investing for him
when you are rich like that buffon you just pay people to invest for you

>> No.3033686

>>3033558
He bought and insurance company and levered his investments with it

Also probably the best living stockpicker

>> No.3033749

>>3033614
this. Bitcoin is meant to be a store of value more than a currency, but it is actually actually a bit both, the truely new asset of the future.

>>3032694
nocoiner trying to cope

>> No.3033759

>>3032694
Who gives a shit. That piece of shit will be burning in hell in 10 years anyway

>> No.3034200
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3034200

Daily reminder he dishoned his adopted granddaughter because she got interviewed for a documentary called the 1% back in 2007 right before shit hit the fan.


He is a really nasty person and a slave to jews.

>> No.3034227
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3034227

>>3032694
the reason why this old faggot won't endorse bitcoin is because he is going to die before he makes money off bitcoin.

this nigga was poor until 50 when his faggot money compounded to millions.

Daily reminder that EVERYONE can be a millionaire by the time they retire. but the thing these faggots dont understand is I don't want millions by the time i'm 50.

what the fuck is my old ass going to do at that point? my body won't be able to party and go out fuck whores do drugs, etc. etc. i'll die of a fucking heart attack at 50 doing that shit.

sit at home watch CNN or FOX or whatever the fuck jew media wants to brainwash my head but hey, i'm a millionaire so good job slaving an entire life away for peanuts.

fuck compounding, fuck this gay ass old nigga. fuck the baby boomers.

>> No.3034435

>>3034227
This so much desu.

>> No.3034500

>>3034227
So the power of compound only worked his at his 50s? That's interesting, I have watched a lot of interviews of him, but never read his life story. I always had the impression of him being a rich kid.

I don't care if I'm rich tomorrow or in my 50s, by the time I'm 50, 50 will be the new 30 and by then I can harness my investment and live life. I'm in my early 20s right now.

>> No.3034648

>>3034500
good luck. medical technology especially life-extending technology even as it reaches mass market production by 2030-2040 will never be affordable to your laughably 3 million fund.

you might be able to afford an extra 5-10 years but that will be that.

>> No.3034857

>>3034648
I did a conservative estimation and you are right, $3 million after 30 years of compounding, Lol. But honestly I'm here to learn. So what is your suggesting? How do I turn my measly $10 000 to $10 000 000? I'm still young.

And how did Buffet still make this much money, the guy could easily have $100 000 000 000 if it weren't for all the charity work etc.

>> No.3034919

>>3034857

he picked good company's he thought would be around forever and rode them to the moon a million times

pretty sure he got into coca cola before they mooned and made literally 10% of his portfolio of them alone

coca cola used to have actual cocaine in it back in the day too, part of the reason it became such a world wide phenomenon

>> No.3034986

>>3034857
like donald trump himself, these fucking assholes had it REALLY EASY. Boomers had the best economy of the century and they destroyed it by consuming and inflating it.

Look, I'm gonna tell you something not a lot of people are willing to take especially my fellow Americans because i'm basically attacking their well-being and their future. I get it.

My money is on Emerging Markets. China, Iran, Mexico, India being my personal top 4. I'll be starting to short the Dow Jones here in a few months if not sooner while increasing bitcoin holding.

Again I know people are going to go ape shit for telling them that the USA and their economy is going to shit. I'm American but money and my welfare are above my country. If you are a patriotic person stick with your 401k please.

take it for what you will nigga. that's my two cents. the most intelligent people are those who can view the opposing side of the argument without judgement whether or not they agree with it.

>> No.3035032

>>3034857
>charity
You mean the loophole created by the elites to pay a lot less taxes while making it look altruistic?

>> No.3035041

>>3034986
Thank you for the advice. Yes, the US stock market has increase over the last couple of decades, and people think this is unsustainable and that emerging markets is the future. I will look into it.

Also, I'm, European does the same thing apply for me? I would imagine so right?

>> No.3035044

>>3034648
That's cool you can see in your crystal ball what will happen in 50 years, faggot. You might as well kys, meanwhile we, smart investors, will enjoy our immortality full of riches.

>> No.3035055

>>3035032
>like donald trump himself, these fucking assholes had it REALLY EASY. Boomers had the best economy of the century and they destroyed it by consuming and inflating it.
>Look, I'm gonna tell you something not a lot of people are willing to take especially my fellow Americans because i'm basically attacking their well-being and their future. I get it.
>My money is on Emerging Markets. China, Iran, Mexico, India being my personal top 4. I'll be starting to short the Dow Jones here in a few months if not sooner while increasing bitcoin holding.
>Again I know people are going to go ape shit for telling them that the USA and their economy is going to shit. I'm American but money and my welfare are above my country. If you are a patriotic person stick with your 401k please.
>take it for what you will nigga. that's my two cents. the most intelligent people are those who can view the opposing side of the argument without judgement whether or not they agree with it.
I just took the word "charity" out of his own mouth. I don't know what he really does with his money, my point is that he could easily be worth 100 billion right now.

>> No.3035092

>>3035041
Europe's biggest issue is the EU. If you are investing in Europe make sure it's a country outside of the EU for the most part. Other than that I really can't tell you i'm not familiar with the state of European economies aside from Russia and Norway

>> No.3035093

>>3034986

its hard to take you very seriously when you claim to remain objective right after you spill your subjective opinions

on what premise would iran or mexico be considered emerging economies?

>> No.3035115

>>3032694
He's not a genius. It's easy as fuck to make money when your already rich.

All he did was look at undervalued companies and buy in just like literally any other investment firm would do.

>> No.3035180

>>3035115
If it's easy as fuck I suppose you must be a billionaire too.

>> No.3035185

>>3034986
I'm an american millennial who has never had a job with benefits. I've got maybe 10 grand in crypto and that's it. I agree that America is about to hit a rough patch...very rough. That's why I bought btc when it was like 1200. I don't know much about investing but I really wanted my btc, its paid off well...for now. How do I invest in emerging markets? I believe India will do well. Not as aggressive towards westerners as say China. They have the population and they seem to work hard. Mexico....well idk it depends on their ability to stop their civil wars and general corruption. I'm not sure about Iran although something tells me not to dismiss Iran. Even though they regularly chant about wanting to kill me and all my countrymen. I need to know how to invest in them. Please advise a poorfag who doesn't want my young family to perish in the upcoming economic crisis.

>> No.3035193

Lmfao wow his argument for why it's "not a currency" is so fucking bad. The price changes and therefore you have to change how much you can buy. Has this dickhead never heard of forex? I mean shit what the fuck how did this guy make lots of money?

The "test" of a currency? There's islands out there that used seashells as a currency for thousands of years. Are seashells a currency? Gold was _the_ currency for thousands of years. Currencies come and go. Bitcoin has huge advantages over other currencies ATM. Also some weaknesses. To completely dismiss it is very stupid.

But hey, I guess when you made billions scamming people and "value investing" as a millionaire, you like to stick to your comfort zones. I'd like to see this guy try to use a computer.

>> No.3035212
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3035212

>>3034227
>what the fuck is my old ass going to do at that point?

get expensive as hell med tech to become young again.

>> No.3035241

>>3035185
>upcoming economic crisis.
If you can see the future then convert all your shitcoins into fiat and go all in on VIX, faggot. Until then shut the fuck up with your retarded prophecies.

>> No.3035302

>>3035093
>>3035185
Take a look at the Tehran Exchange they are delivering solid returns above 10% every year for the last half decade. Iranians are some of the most forward thinking and educated people in the middle east. They have a booming economy investing heavily with themselves. Take a look at Iran Khodro Corporation and see for yourself.

As for Mexico that's another nation ready to blow up. Aside from their internal problems which is really the drug cartels and corruption overall the nation is doing great. Exports from Mexico went up 11+% year-on-year to USD 35.61 billion in June 2017, marking the eighth consecutive month of annual gain. ONE YEAR.

As more Mexican citizens leave the poverty line they are pushing towards national brands and already have a plan for self-sustainable economy especially with the threat of Donal Trump and the removal of NAFTA

I know it's hard to look at these "shithole" nations that we've always been told about in the media and society and see the output they are generating but they are getting better returns than ever before with no signs of slowing. In contrast to the American workforce which to say is getting more lazy and entitled.

If you guys really want to look at the alternative. I'll throw up a few indices and etf's to be on the lookout for in no particular order.

USA:DXD,DOG,SPXU,SDOW
Mexico:EWW, UMX
Iran: FAIX1, BSTX1,NKOL1 (For obvious reasons as an American you cannot invest in Iran. What I've done is opened up a bank account in Mexico (BBVA Bancomer) that was willing to work with me)
India:INDL,SCIF,INXX

>> No.3035325

>>3035302
do you know how adopted is bitcoin in iran? would the gov regulate it?

>> No.3035345

>>3035241
Its not an ability to see the future its looking at events and following them to their logical conclusion

>> No.3035354

>>3035302
>Iranians are some of the most forward thinking and educated people in the middle east.
What an achievement.

>> No.3035379

>>3035354
Kek

>> No.3035380

>>3035345
Nice, then logically you should be buying VIX or shorting s&p 500. Why aren't you? Is your endgame calling for crash until one happens? That's no better than a broken clock.

>> No.3035403

>>3035354
Like being the thin kid at fat camp. Lol

>> No.3035413

>>3035325
As far as I know the Iranian government itself is working towards regulation faster than public adoption.

I don't see the Iranian people adopting bitcoin anytime soon but you got to realize that bitcoin adoption is being seen as a storage of wealth against inflation rather than an investment. Inflation is not something the Iranian people are worried about right now.

>> No.3035427

>>3035302
Thank you. I will research what you've provided. I agree about my fellow Americans and especially my generation. I live on the border and I wish Americans (black white and even "mexican") had the work ethic of actual Mexicans. We would be better off if they did.

>> No.3035466

>>3035380
No. I have no interest in shorting the s and p 500. I'm set to make a lot of money this month doing exactly what I am doing. I've research crypto and I fell like I finally understand the phycology behind it. Millenials aren't big players in the stock market and its unlikely they will ever be. If I was to have anything at all to do with NYSE or whatever it would be pot stocks and maybe wine stocks... Everyone will be looking to get fucked up once USD is no longer the reserve currency at all.

>> No.3035480
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3035480

>>3035354

>> No.3035519

>>3035380
I may buy VIX. That actually looks interesting. I need to research it more though. Thank you.

And you may be right about me being no better than a broken clock...but I do know that I see things that give me pause for great concern in America. Mostly the workforce attitude and the fed qe programs coupled with the fact that I do not believe the dollar will remain the world reserve currency within the next 10 years.

>> No.3035536

>>3035380
You think raising rates will fix the problem forever?

>> No.3035562

>>3033558

He's made most of it through buying insurance companies. When people pay their insurance premiums, it isn't immediately paid out for claims. There's always money 'sitting' there for insurance claims, called the 'float'. Buffet invests the float, because otherwise it would be wasting away as cash. Since he only invests in safe, sure things, Buffet doesn't really have to worry about losing the float.

So essentially, Buffet doesn't invest his own money. He invests insurance policy holders' money through Berkshire Hathaway. He and Charles Munger are majority shareholders of Berkshire, so that's why they're billionaires.

>> No.3035565

if i bought alts with btc when btc was low
and sell alts for btc when btc is high
even though i sell the alts for more then i bought them , i'm still at no or low profit because i'm selling into a high btc?


can somebody please enlighten me , my head hurts

>> No.3035610

>>3035565
as long as you sold the same amount of btc, or higher, as you bought it for, you're good.
technically you could even sell at a certain btc loss, and you'd still be good, because its value increased to make up for the loss.what's so hard to understand about that?

>> No.3035664

>>3035610
if i buy say 1000 safex for btc @3400
and now sell 1000 safex when btc is@3800
i will get less btc but it's worth more so it's no difference?

i'm bad with numbers

>> No.3035692

>>3035664
No you will lose money. If you buy 100 Alt coins and for bcc @3400 and sell 100 alt coins for etc @3200 you will make money.

Also If you buy 100 alt coins for 1 btc and sell 100 alt coins for 1.1 btc you will make money and if you instead sell for 0.9 btc you will lose money.

>> No.3035705

>>3035664
Always remember: Buy high and sell low.

>> No.3035730

>>3035664
you shouldn't look at the btc fiat price, you should first look at the btc price of the coin. if your buy 1000 safex at 1 btc and sell them at 2 btc, you doubled your amount of btc (duh). if at the time of your buy btc was worth $3000, and at sell time $1500, then you made 0 profit at that time.

>> No.3035741

>>3032694
he's right you know

>> No.3035744

>>3033641
He is smart enough to know his own limits. That's why >>3033023 is probably untrue.

He invests very rarely in tech. The only exception I know is his investment in Apple. He knows the company has a huge following and will continue to do good, no matter what products they will make in the future.

>> No.3035789

I still don't understand how these fucking idiots are comparing Bitcoin to tulips 400 years ago. Are they really that dense?

>> No.3035840

>>3035193
No shit. I mean, literally everything produced is priced in terms of its relative cost and is based upon, in essence, the US dollar. Is the Euro no longer a currency because the price of a pay per view service fluctuates on a per event basis with the dollar?

Is the Norwegian kroner no longer a currency because the price of fuel fluctuates daily relative to the dollar?

Is the Japanese yen no longer a currency because the price of fish fluctuates over the course of the year?

It's the most asinine argument ever coming from the most arrogant octogenarian aspie ever. Dude's an insurance salesman who paid others to invest his float, and now suddenly he's "the best market analyst evar" because those people he paid made god tier investment choices?

Buffet is no different than Trump, he's just older. He got his first company from his dad (remember, a "10k gift" in 1950 is essentially the equivalent of 1 mil today), and he hired good help. Listening to his opinion on emerging technologies is no different than listening to your grandpa rant about the newfangled remote.

>> No.3035851

>>3035789
well tulips are like bitcoins in many ways...you can buy them......you can sell them....ehhhhhhhhh

>> No.3035873

>>3032916
why

>> No.3035890

He's incredibly smart and the greatest investor in history so far. But his time has passed. I doubt whether his old-timey reading the newspapers strategy would work in a modern era of algorithmic trading, crypto, internet, and all this tech stuff he's stayed away from.

I'm sure he could still make money this way but it wouldn't be anywhere near as successful today

The next Warren Buffett will be some prolific tech investor, not someone who buys Coca Cola and Dairy Queen

>> No.3035984

fuck off bufcuck im not interested in buying your bags for 4% a year.

the future is now old man.

>> No.3036040

>>3032694
He's completely right. People don't buy BTC because it's a currency RIGHT NOW, they buy it because if CC's will catch, BTC will be valued for much much higher than it currently is.

>> No.3036060

>>3035562
>>3035562
Was he the first to think about that?

>> No.3036900

>>3034200
I know. I love it how people look up to him as if he's a charitable person.

>> No.3036926

>>3032694
He's right you know

>> No.3036941

Buffet wouldn't touch cryptos with a mile long pole. He's (or used to be) autistic about that sort of thing.

>> No.3036953

>>3035890
He's not even that intelligent. He never bought Google and Amazon because he's a tech illiterate. As it is with most rich old people, it's a classical case of being at the right place, at the right moment and being the (one of the) first in a niche.

>> No.3037005

>>3032694
But he is actually right. All the vendors sell you stuff in USD and allow paying by Bitcoin. That does not make Bitcoin a currency, just a payment channel / method.

So yeah, this shit will bust hard. Enjoy it while you can.

>> No.3037501
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3037501

>>3034227
>poor

No he wasn't you stupid coon.

>By age 35, according to Dividend, Buffett’s partnerships had grown to $26 million. Buffett bought controlling stock in Berkshire Hathaway in 1965, according to CNN, and by 1968 his partnerships grew to $104 million. Going into his forties at age 39, Buffett’s net worth was listed at $25 million.

>> No.3037562
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3037562

>>3032694
>>3035193
he's basically saying its a commodity.

buffet hates commodities because they are pretty impossible to attach an underlying value to.

now ofc you can try to value them based on global supply and demand and economic factors but he is not interested in doing that when he finds it so much easier to make plenty money buying valuable companies and government bonds.


if you were a student of buffet or benjamin graham , you would intuitively understand this.

>> No.3037566

>>3032694
What he says is true, but also applies to gold and silver. You buy a product or service with gold, and you'd need more coins, less coins, shave some off etc depending on the conversion to fiat. It's impractical, but it's a good reserve and store of wealth. Bitcoin will be the same.

>> No.3037597

>>3032694
baby boomers need to get gassed

>> No.3037657

>>3037562
buffett is just a salty nogolder

>> No.3037808

>>3037657
hes a cis white trust funder kiddie and a kneepad extraordinaire

>> No.3037875

>>3034227
Buffett day traded when he was younger. Jews never tell you that. Only now does he hold for the low capital gains tax rate. He also bought pre-ipo shares for maximum profit. You need to be accredited for that.

>> No.3037951

>>3037875
The Buffett that modern investors admire almost wasn’t. When he graduated from Columbia he intended to work on Wall Street, but Graham convinced him to make another career choice. Back in Omaha, Buffett worked as a stockbroker and opened several partnerships. The size of the investing partnerships grew substantially, and by the time he was 31 he was a millionaire.

Read more: How did Warren Buffett get started in business? | Investopedia http://www.investopedia.com/ask/answers/081314/how-did-warren-buffett-get-started-business.asp#ixzz4pZappqUK
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