Back in 1996 he was already an old (65) and rich man (1.5B), but his net worth was only 1% what would come in the next 3 decades. So guys, it is never too late!!!!
Warren Buffett is a business man and money manager. Stop calling that guy an investor/trader. It's not difficult to get extremely wealthy with time and compounding if you're managing a shit ton.
For comparison, the SPX went up 7 times, the Nasdaq 20 times since then. Anyhow, for those who didn't get it, my post tried to be INSPIRATIONAL, that life doesn't end at 50 or 65, just because you haven't made it yet...There is still time, better late than never.
The problem is most guy traders can be rather extremely stubborn and close minded and Devoted to their single trading God/book/author/guru. They'll continually pound their head into a certain trading ideology even if it's not working for a decade. It's crucial in learning to be open minded and neutral and learn to think for yourself independently and alter the future. Trading is not the Military or a chain of command dictatorship Everyday in the market chart....that's not all just completely random. That's semi predictable and logical. Question it, observe it...those micro and macro movement detail Inspiration is nice...but without dissecting and action and understanding...you will get nowhere
he earned those contacts by building the right machine and persona. Wall Street is one giant marketing machine and he mastered his niche. The guy who owned the company my dad worked at was going to sell. He really wanted to sell the buffet. Easy deal, no hassle and he could tell his friends he clearly built a good company that buffet wanted it (even if he left a few million on the table).
Someone buying a house 30 years ago, with a 5% deposit down. Would have made more than 100x on the money they put down. Easiest way for most people to make those kinds of returns. Although there were even some 0% down mortgages, which would be infinite returns I remember my neighbours son bought a house with 0% down and also got a 30K attached loan from the bank so in effect a 120% mortgage at the time. He laughed and said "I now own a house and I also have 30K cash"..