One of Warren Buffett’s and Charlie Munger’s biggest regrets was not buying shares of Google owner Alphabet Inc.
New York:
PIO father, son follow Buffet’s one tip to become billionaires
Both Paul Singh, who is 68, and son Jay Phoenix Singh, 32, built successful businesses that they were then able to sell for premium prices, making both men multi-millionaires.
Despite their difference in age, the Singhs — one a Baby Boomer, the other a millennial, both from Fairfax, Virginia — share a long-time devotion to the words of Warren Buffett, 88, owner of the third-largest fortune in the world.
“Warren Buffett is the quintessential American dream of coming from very little and being able to really make a name for yourself,” said Jay Phoenix, standing before the relatively modest home of the American billionaire, just a few minutes from the center of Omaha in the heartland state of Nebraska.
They were drawn here by the annual shareholders meeting of Buffett’s Berkshire Hathaway holding company, which gives them, and others like them, a chance to soak up the market-moving wisdom of the “Oracle of Omaha.”
The Singhs are big admirers of Buffett’s taste for discretion and his simple but shrewd approach to investment.
Berkshire will be more ‘liberal’ in share buyback, says Warren Buffett “You buy only things that are useful,” said Paul. “Money doesn’t mean that you have to show off and buy cars with a big torque (or) houses that you don’t need.” Paul follows that advice in his own life: he sports no bling or other showy external signs of wealth.
“I don’t mind not having caught Amazon early,” Munger said. “The guy (Jeff Bezos) is kind of a miracle worker, it’s very peculiar. ... But I feel like a horse’s ass for not identifying Google earlier ... We screwed up.” Buffett and Munger were asked if Berkshire Hathaway’s investing philosophy had changed given that one of Berkshire’s portfolio managers recently bought shares of Amazon.com Inc. Todd Combs and Ted Weschler manage roughly $26 bn of Berkshire’s investments. Munger said he and Buffett saw how great search engine optimisation was used in its Berkshire-owned GEICO and “we just sat there sucking our thumbs.”
PIO father, son follow Buffet’s one tip to become billionaires
The father and son, both successful entrepreneurs, made the pilgrimage together to the US city of Omaha to bask in the wisdom of billionaire Warren Buffett, whose simple approach to investing — and whose mistrust of Wall Street — they share.
Both Paul Singh, who is 68, and son Jay Phoenix Singh, 32, built successful businesses that they were then able to sell for premium prices, making both men multi-millionaires.
Despite their difference in age, the Singhs — one a Baby Boomer, the other a millennial, both from Fairfax, Virginia — share a long-time devotion to the words of Warren Buffett, 88, owner of the third-largest fortune in the world.
“Warren Buffett is the quintessential American dream of coming from very little and being able to really make a name for yourself,” said Jay Phoenix, standing before the relatively modest home of the American billionaire, just a few minutes from the center of Omaha in the heartland state of Nebraska.
They were drawn here by the annual shareholders meeting of Buffett’s Berkshire Hathaway holding company, which gives them, and others like them, a chance to soak up the market-moving wisdom of the “Oracle of Omaha.”
The Singhs are big admirers of Buffett’s taste for discretion and his simple but shrewd approach to investment.
Berkshire will be more ‘liberal’ in share buyback, says Warren Buffett “You buy only things that are useful,” said Paul. “Money doesn’t mean that you have to show off and buy cars with a big torque (or) houses that you don’t need.” Paul follows that advice in his own life: he sports no bling or other showy external signs of wealth.