Buffett Screwed Up….And Became A Millionaire
January 18th, 2008 Categories: "Say What? Just Some Real Estate Talk
It is interesting how people look at millionaires. Many think that all were born with a silver spoon in their mouth or were very lucky or, or, or.
What they don’t know about are the mistakes they made in achieving their accomplishments.
Also of interest is the fact that millionaires don’t think of themselves as millionaires. But one facet shows that a number of millionaires became millionaires because they went against the norm.
For example, Warren Buffett began as a paperboy for the Washington Post. His first entrepreneurial endeavor was as an odds book publisher (can I say bookie??) for gamblers at race tracks.
He next moved into pinball machines where he started the Wilson Coin-Operated Machine Company.
His investing mentor was Benjamin Graham whom Buffett study under. But Buffetts’ first large venture was the purchase of a controlling stake in a textile mill in Massachusetts. The mill was Berkshire Hathaway which eventually went bankrupt.
Warren Buffett took the time to learn, take reasonable risks and had that sense of mind to know what was good for him and not act on the basis of what the guru’s were advising.
Today many people hold themselves captive to the constant sell of doom and gloom. If we don’t have a problem just wait and the news, TV or political guru’s will make one.
Today we are working through a scare fest in real estate. That and global warming are the current arena’s of fear.
Today should be a day when one looks around and does what investors of all kinds do…..ask where they can make some money.
As a real estate broker I come in contact with people who will verbalize all of the language that they have either read or heard about how the real estate market will be in the tank for years. They will not move until it is written and they read that they can move. When they do it is too late.
To succeed one has to take the time to study, make mistakes and have the common sense of knowing what is good for themselves. Just maybe with their own common sense, patience and strength, they will become millionaires without knowing they are millionaires.
For those awaiting the written word, go, take the time to rummage around in the real estate arena, look for deals that make sense to you and be prepare to make some money. Tomorrow you will be glad you did.
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