Teenage Warren Buffett and a friend bought a broken down pinball machine for $25. The friend, a future engineer, fixed the machine while Buffett convinced local barber shop owner, Frank Erico to let …
Malibu delivered my wakesurf boat last week. It’s winter in Austin, but it’s 74 degrees outside and the water is comfortable with a $200 3/2 wetsuit. The lake–even on a beautiful sunny Sunday–is …
“It’s been my experience in life if you just keep thinking and reading you don’t have to work.” – Charlie Munger Yesterday I ordered five finance books–928 total pages–for …
In 1996, the natural soda and juice company Hansen Beverage produced $357,000 in net income on $35.6 million in sales. In 1997, it introduced Hansen’s Energy Drink. Five years later, it launched a new …
In 2015, I force-fed my business cash. $480,000 per year on office rent, $500,000 on a mobile app, $500,000 on a custom community, $1 million on a marketing campaign, much more hiring too many people. …
Each entrepreneur I know who has sold a business for millions of dollars lost money investing. They buy real estate because they can see it; they invest in friends’ startups because they can talk to …
“Diversification is for the know-nothing investor.” — Charlie Munger Mistake One: Diversifying too much It was May 3rd, 2008. The two leaders, Warren Buffett and Charlie Munger–aged …
“Although over the short term, Mr. Market may set stock prices based on emotion, over the long term, it is the value of the company that becomes most important to Mr. Market.” — Joel …
“Owning a non-controlling portion of a wonderful business is more profitable, more enjoyable, and FAR less work than struggling with 100% of a marginal enterprise.” — Warren Buffett …
