Hello, today I share with everyone my favorite investing strategy that will guarantee a profit and a successful investing career. This strategy was used by a man many may know that goes by the name of Warren Buffett who is an American business magnate, investor, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of March 2017 is the second wealthiest person in the United States, and the fourth wealthiest in the world, with a total net worth of $73.3 billion. If one is able to gain a net worth of that size, they are obviously doing something right.
Warren Buffett’s investment career started early and in a somewhat unexpected manner.
One of his early investments was in high school, when he and a friend bought a used pinball machine for $25 and installed in a barbershop. The game proved to be popular with the barbershop’s clientele, so the entrepreneurial duo reinvested their profits to buy more pinball machines. In time, they had eight machines in several shops.
Eventually, they sold their venture, and Buffett used his portion of the proceeds to buy stock and then launch another business. By the time he was 26, he’d accrued $174,000 -- or $1.4 million dollars worth of value in today’s market.
So what I am trying to get at here is that:
One - You have to know what market you are getting into and do some studying to understand if you will ever get a ROI (Return on Investment). Warren Buffett knew that the arcade game was popular among people in the barber shop, which led to many people spending money on his investment.
Two - This is probably the most important thing that I have taken away from this, and it is to ALWAYS reinvest your earnings back into something and DO NOT blow it on useless items. When you start with a sum of money and that starts turning profit, you want to reinvest to turn more profit and rinse and repeat. If you take from the profit you are only flat lining when you could potentially be gaining a more and more.
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