HomeBusinessWarren Buffett was asked if he had to start over in his...

Warren Buffett was asked if he had to start over in his thirties, how would he make $30 billion today – here’s how he would do it with $10,000

At Berkshire Hathaway’s 1999 annual shareholder meeting, an ambitious attendee named Grant Morgan asked a compelling question: “If you were starting over today in your early 30s, what would you do differently or the same in today’s environment to ensure your success? to copy? Basically, Mr. Buffett, how can I make $30 billion?”

Buffett’s response was not focused on get-rich-quick schemes or risky ventures. Instead, he unveiled a timeless blueprint for building wealth, emphasizing the importance of starting early, leveraging compound interest and practicing disciplined investing.

Do not miss it:

He explained: “Charlie has always said that the most important thing is that we started building this little snowball on top of a very long hill. We started rolling the snowball downhill at a very young age. And of course, the snowball, the nature of compound interest, behaves like a snowball of sticky snow: the trick is to have a very long hill, which means you either have to start very young or very old become.

See also  TSMC beats profit estimates on rising chip demand

Buffett then described his strategy if he were to start today. “I’d do it exactly the same if I was in an investment world. If I was getting out of school today and I had $10,000 to invest, I’d start with the A’s. I’d go right through companies and probably focus on smaller companies because I would then be working with smaller amounts and there is a greater chance that something will be overlooked in that area.”

He added: “You have to buy companies and your little pieces of companies are called stocks. You have to buy them at attractive prices, and you have to buy good companies.”

Popular: A Startup that turns videos into games gets backing from Mark Cuban and opens a round to regular investors at $250.

While some might think the advice would change based on market conditions, Buffett made it clear that this was not the case. He explained: “That advice regarding investing will be the same in a hundred years. That’s what it’s all about.”

See also  Stocks and Futures Struggle with Key US Data: Markets Wrap

He emphasized the importance of independent thinking and thorough research. “You can’t expect someone else to do it for you,” he said. He emphasized that people will not share valuable investment tips, so individuals must understand their own knowledge and limitations. “You have to pursue it very vigorously and act on it when you find it,” he added. He also emphasized the need to think for oneself rather than seeking agreement or validation from others.

Even though Buffett’s advice was delivered 25 years ago, it remains highly relevant today. While theoretically simple, it emphasizes the importance of starting early, thinking independently, and maintaining disciplined investment practices.

Consulting a financial advisor can be invaluable for those looking to build a diversified portfolio, especially for individuals who may not have the expertise to pick stocks on their own.

Buffett’s response reminds us that while the path to financial success requires patience and a long-term perspective, it is within reach for those who are willing to learn and take action.

See also  Don't buy SoFi stock until you understand this one key risk

Read next:

*This information is not financial advice and personal guidance from a financial advisor is recommended to make informed decisions.

“SECRET WEAPON OF ACTIVE INVESTORS” Boost your stock market game with the #1 trading tool for “news & everything else”: Benzinga Pro – Click here to start your 14-day trial now!

Want the latest stock analysis from Benzinga?

This article Warren Buffett Was Asked If He Should Start Over In His 30s, How Would He Make $30 Billion Today – Here’s How He’d Do It With $10,000 originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

- Advertisement -


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments