Warren Buffett Became a Filthy Rich Animal, and So Can You
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The Oracle of Omaha Retires
In 1993, when I was new to Wall Street, a coworker asked me if I wanted to go in with him on one share of Berkshire Hathaway BRK.A. At the time, there were no lower-priced “B” shares, but the A shares were trading for a now paltry sounding $11,000. I passed, because Buffett was in his 60s and I assumed he’d retire soon.
That was 32 years ago. Boy, was I wrong.
My $5500 investment would be worth around $385,000 today.
So, yeah, I’ve made my share of investment mistakes.
But this column is called Weekly Wins. Let’s not dwell on my loss.
Rather, the investing community has been lucky to have Warren Buffett stick around for so many years. Not just because he made many people rich. But because he has provided so much wisdom to so many.
As you know by now, the Oracle of Omaha will retire this year at the young age of 95. He is the man who popularized value investing and I thought it would be helpful to share some wisdom from our team this week, which is either directly attributable to Buffett, or advice that he would agree with.
Bret Jensen
First up, Bret Jensen shared that “the one piece of advice I wish I would have adhered to over the decades is Buffett’s take that it is better to get a great company at a good price than a good company at a great price.” This philosophy led to Jensen’s purchase of great companies like Amazon AMZN, Meta META, and Apple AAPL using options. But Brett wishes that he’d bought the common stock instead and held on, just like Buffett would. Read more in Buffett’s Advice Was Always Best, I Just Wish I’d Followed It.
James "Rev Shark" DePorre
James “Rev Shark” DePorre writes a weekly Saturday article that is always full of sage advice. In 5 Reasons Investors Should Learn to Love Bear Markets, he shares ideas that Buffett would agree with. After all, Buffett made his money by seeing opportunity when others were fearful. Rev Shark tells us that investors have been conditioned to love bull markets and fear bear markets. But that’s incorrect. Bear markets offer the best opportunities to buy stocks on sale.
Doug Kass
Our own Doug Kass once took to the stage at Berkshire Hathaway’s annual meeting. He played the bear alongside the optimistic Buffett and Munger. So, it’s safe to say that Dougie knows the men and understands their strategy.
And while Kass is much more of a trader, he looks at markets from a fundamental perspective and cares about valuation, just like Buffett. And that’s why I’m including his article on Picking the Cannabis Winners in an Industry Full of the Walking Dead from this week as a “win” for showcasing Buffett’s philosophy of buying bargains.
Dougie looks across the cannabis business to find the winners, the stocks that even Buffett would give a thumbs up to, and comes up with four stocks to consider, Trulieve TCNNF, TerrAscend TRSSF, Green Thumb GTBIF, and Glass House GLASF. Perhaps more importantly, he offers tips for investing in cannabis.
Become a Filthy Rich Animal
Warren Buffett has always said that investing is a full-time job. And you may not have the time or interest to chase your value investing dreams. That’s why we launched Filthy Rich Animal. For the last ten weeks, we’ve shared ten invaluable rules for investing. Beginning this week, we get into strategies for building your own portfolio as well as our first Question of the Week which asks why vampires are so rich.
Sign up to receive the Filthy Rich Animal newsletter or share it with a friend. It’s free. You can also read the content right here on Pro.
Live Quarterly Meeting
Next week is our fourth Live Quarterly Meeting. I’ll be joined by Chris Versace, Carley Garner, and Bob Byrne to talk about investing in these uncertain times.
I hope you can join us on Wednesday, May 14th, at noon ET right here on TheStreet Pro. And you can submit questions for the panel in the comment section.
Have a great weekend!
