Image Credit: Martha Cooper, “Louis McDowell gives Michael Young a haircut” (1994), Working in Paterson Project, American Folklife Center, Library of Congress
This Sunday, Warren Buffett turns 90.
The chairman of Berkshire Hathaway Inc. is one of the most successful investors of all time, having amassed a net worth estimated at $82 billion. Yet he accrued nearly 90% of that sum after the age of 65. Investing well is important, but investing well for a long time matters even more.
“I’ve long recommended,” Mr. Buffett told me in an email earlier this month, “what I called ‘The Methuselah Technique.’ ” That, as he explained in a letter he wrote to the investors in his limited partnership on Jan. 18, 1965, is the combination of a long life and a stable, attractive investment return. Mr. Buffett made his first investment, three shares of Cities Service Co., more than 78 years ago.…
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This article was originally published on The Wall Street Journal.
Further reading
Morgan Housel, The Psychology of Money
Alice Schroeder, The Snowball
Benjamin Graham, The Intelligent Investor
Jason Zweig, The Devil’s Financial Dictionary
Jason Zweig, Your Money and Your Brain
Jason Zweig, The Little Book of Safe Money
