/biz/ - Business & Finance

[Anonymous No.56826803]

How did they get so wealthy? Was it all luck or were they really some sort of financial geniuses?

[Anonymous No.56826813]

Be born a Boomer

Buy literally anything

Wait

[Anonymous No.56826827]

>>56826803
same as every richest person on earth. do you think Elon is rich from his salary?
buy one successful company early
hold forever

[Anonymous No.56826835]

>>56826803
Value investing, and child trafficking.

[Anonymous No.56826837]

>strong men create good times
>good times create weak mean
>weak men create hard times
>hard times create strong men

[Anonymous No.56826850]

>>56826835
>child trafficking
what's the scoop here?

[Anonymous No.56826866]

>>56826803
Insider trading plus billions at the start, they were just lucky.

[Anonymous No.56826867]

>>56826803
If they did what they did to become rich TODAY, they would be in jail. They are criminals by todays standards. SEC would have locked them up longer than Bernie Madoff. They are not special nor are they geniuses

[Anonymous No.56826888]

>>56826867
agreed. theres no way coca cola as a company would be allowed to sell their addictive poison if it hadn't been grandfathered in and already so le heckin le popular. remember the FDA is a populist organization, not a scientific one.

[Anonymous No.56826925]

>>56826803
There was a point where both Coca Cola and American Express had reasonably pricey stocks trading at 30x their annual return. They took a gamble on the idea that the demand for both was unlikely to decrease and hence was low risk.

It seems obvious now but I guess the future of Coke and a rando bank weren't always certain.

[Anonymous No.56826949]

Find new companies on the verge of IPOing

[Anonymous No.56826955]

They boomered when everyone else Zoomered

[Anonymous No.56826984]

>>56826803
insider trading
/thread

[Anonymous No.56826990]

>>56826803
Luck. They lived in the easiest tome

[Anonymous No.56826995]

>>56826990
>tome
time. Bitch phone
>>56826867
SEC is useless and wouldn't have done shit to them

[Anonymous No.56827004]

>>56826850
Look into the "Boystown" scandal

[Anonymous No.56827009]

when they were acquiring berkshire hathaway one of the big shareholders was some old money gilded age bigshot from some elite east coast family, he teamed up with them and basically from there they were one of the fattest wallets in the world during one of the greatest periods of prosperity ever in the world's best market. i'm not knocking them but there's a lot to the self-made myth that's ridiculous, people have cast this kind of blue-collar honest-capitalism cloak over these guys when that's not and never was the case, they found ways to leverage their already powerful position and just never stopped.

[Anonymous No.56827133]

>>56826803
Just common sense during the most prosperous time in human history plus some luck to be exposed to the topic of investment at a really young age and getting really old.

[Anonymous No.56827137]

>>56826867
What did they do exactly?

[Anonymous No.56827220]

>>56827004
Are there more connections other than taking place in Nebraska? Plz explain or gib link.

[Anonymous No.56827240]

>>56826803
Same as all them other geezers, Black Monday

[Anonymous No.56827243]

>>56827220
Yes but you’re not part of the club to be able to know. It usually begins at the furries.

[Anonymous No.56827264]

>>56827137
nothing, unironically nothing. those subhuman posters that say they did something illegal are just shouting in the void because they seethe and are poor

[Anonymous No.56827527]

>>56826803
buffet’s father was a us congressman, so there’s that
>>56826925
iirc, paying 30x for a company was munger’s contribution. at least as they told it, buffet preferred to pay pennies on the dollar, but munger convinced him that paying up for a company with entrenched market share, in certain situations, was also a solid strategy
have heard rumors that berkshire was a big part of the “plunge protection team”. like, it would have been a bad look for the us to have some equivalent of a sovereign wealth fund at odds with the free market rhetoric, so why not outsource operations like that to a bright congressman’s kid whose family had been well established for several generations? and at the end of the day, he’ll just return that money to the rockefeller legacy slush fund via the gate’s foundation anyway...
whatever backroom deals may have been involved, it’s not inconceivable that, along with political connections, a couple of intelligent and disciplined men could grind out 10-20 percent returns year over year for decades and end up where they are now

[Anonymous No.56827573]

>>56826803
their returns weren't actually that great compared to some other investors, peter lynch had annualized returns of 29%
buffet also didn't see the bank failures coming and avoided huge losses when banks were bailed out, but maybe some will claim he's such a genius that he knew they'd be bailed out
buffet is a good investor, largely benefiting from monetary and government policies

[Anonymous No.56827669]

>>56826803
They were buying stock when it was cheap. Every generation has an opportunity for wealth like this. For example a few years back you could have bought one million Dogecoin for less than $200. A few years before that you could buy Bitcoin for pennies. Those who took advantage of those low crypto prices will be the Buffett and Munger of the current generation.

[Anonymous No.56828831]

>>56827669
so the equivalent today is someone buying up altcoins or would you say the answer is still bitcoin? assuming one wants wealth long term and isn't just completely gambling.

[Anonymous No.56828890]

>>56828831
The equivalent today is Chainlink

[Anonymous No.56828895]

>>56826803
>mostly buy low sell high
they just did the opposite of what biz said

[Anonymous No.56828912]

>>56826803
State mandated insurance ponzi scheme

[Anonymous No.56828920]

>>56828890
kek thanks Sergey

[Anonymous No.56828960]

>>56826803
Connections, something which the newer generations lack. Warren Buffet was the son of a politician

[Anonymous No.56829020]

>>56826803
>Intelligence Information
Any extremely wealthy person has access to information that biztards can't even understand.

[Anonymous No.56829042]

>>56828912
>>56828960
>>56828960
>Social Network
>Connections
>Government Connections
>Insider Information
We are all saying the same thing. They are on the inside and /biz/ is sucking off these guys like they are really brilliant investors.

[Anonymous No.56829057]

they used leverage.

remember this when people tell you about how leverage should be avoided and then give you some warren buffet investing quotes. everyone is an investing midwit. all of the greats used leverage without exception. it really is as simple as buy something that's going up with leverage. there's no "trick" you can use to get around this like bagholding indefinitely ("time in market beats timing market") that all the investing midwits try to tell you. if you cant buy the right thing with leverage then simply accept that you're too stupid to get anything more than fixed income returns. not everyone can be a winner by mathematical definition. curse that you were born stupid.

[Anonymous No.56829106]

>>56826803
Enslaving retards into working 120 hours a week and then investing into Thai prostitutes, but you can't do that anymore, all you can do is seethe and get into stuff like KAS, KAVA and ROSE

[Anonymous No.56829121]

>>56829106
friendly reminder than KAS is just another Jew scam my friendo

[Anonymous No.56829128]

>>56829020
That is fucking foul. My god.

[Anonymous No.56829133]

Generationmal wealth perpetuated for decades upon decades of exploiting the unfortunate and anyone below you.

[Anonymous No.56829134]

>>56829106
thai prostitutes dont sound that bad id love a skinny brown assless titless third world twig

[Anonymous No.56829141]

>>56829106
Which is kinda funny when you think about it because you too can become an enslaving monster just like these guys if you have a bit of capital and extremely cunning people capable of lying and manipulating as if they meant it, all thanks to crypto as a whole.

[Anonymous No.56829156]

>>56829141
go ahead. impress us

[Anonymous No.56829162]

>>56828960
Why does he sit like a good femboy? Nigga looks like he's into weird BDSM shoving huge dildos up his ass and shit

[Anonymous No.56829168]

>>56829133
>>56829162
thou vill stop poking fun at ze zionist leader right now

[Anonymous No.56829322]

>>56829168
This dude looks like he's from the 1960s.

[Anonymous No.56829347]

>>56829322
he certainly loves Israel as much as someone born in the 60's does

[Anonymous No.56829890]

>>56826835
kids play in traffic all the time
nothing wrong with that

[Anonymous No.56830057]

>>56826803
All they had to do was be not pure speculators. In this world of idiots, that makes them geniuses.

[Anonymous No.56830631]

they are smart. There is a lot of short video from shit channels where they put excepts from them speaking and they generally are gold to listen to.

[Anonymous No.56830730]

Insider trading is technically illegal but really should you just avoid certain information? Like youre going to pretend that youre not going to try the information you need?
Could they have done other stuff as well? Well maybe i dont see why not. Pocket a little extra from the customers account. Really i get the whole magic of compound interest but 118 billion hahaha okay and they say he started with $10,000 hahaha

[Anonymous No.56830929]

how do they get caught with insider trading ? I mean the things need to be proven by law. How can you prove something like that ?

We'r told that they are getting caught but in reality the vast majority i'm sure are getting away with it.

[Anonymous No.56830997]

>>56826803
>never question the jews
>allow your country be destroyed
>make profit

pretending to be jewish

[Anonymous No.56831387]

>>56826803
>How did they get so wealthy?
Smart investments + Patience
(pretty much the opposite of us)

[Anonymous No.56831535]

>>56826803 Am i the only one thinking, that Buffett and Munger are among the few billionaires, that arent nasty pigs? They seem like people, that are simply about investing? Like they get their kick out of making money, in comparison to other rich assholes, that made money off building and selling businesses, being entertainers, actors etc.? The "regular" celebrities dont feel satisfied with being rich, and then turn to weird shit to satisfy themselves, since they always have that public persona they must represent?

[Anonymous No.56831595]

>>56827573
the difference in their returns is the duration and the effort put into achieving them. BRK has CAGR 19.8% from 1965 to 2022 and 2023 looks to be ending pretty good too. that's 58 years.
magellan fund while under lynch achieved CAGR 29.2% from 1977 to 1990. not only is that only 13 years -- less than one quarter of berkshire's running record -- that's also a period that ended going on 33 years ago. "what have you done for me lately?"
there are many individual investors with far higher CAGR figures, and for quite long periods of time, too. good for them.
only berkshire does it effortlessly, in a manner where both they and the investors don't have to think about in what year their system will stop working. 100 years from now absolutely nothing will be different in the way the berkshire businesses work. everyone focuses on their stock holdings but ignores the wholly-owned subsidiaries.

[Anonymous No.56831620]

>>56831535
i think that's more or less on point, yeah.
druckenmiller definitely loves the game more than any of them -- 30 years at CAGR 35% i believe it was -- although he's out now, too.

[Anonymous No.56831625]

>>56831535
It's all an act as well, they're both ruthless individuals very good at acting like they're just weak old men. Look at Warren's best buddy, Bill Gates. He went from notorious nerd sociopath to wearing the same old man sweater everywhere and being the "philanthropist" saving humanity and giving away billions a year. Look into it and it's all a charade. It takes a certain individual to get to the top and those characteristics never go away, just the ability to fool others you've changed.

[Anonymous No.56831705]

>>56826803
>Was it all luck
Yes, it literally was. The idea that some stocks are undervalued violates the Efficient Markets Hypothesis. They just got lucky over and over again.