Comment by bawolff
9 hours ago
At the same time i dont think luck is something prople really want to hear about. It makes a terrible story.
You can't emulate luck, you can't control luck, you can't explain luck.
I suspect luck has less to do with Buffet's fortune than most billionaires since he's in investments, so he gets compared to other hedge funds with similar starting resources. He seems to have made it work over the long term and not just had one lucky break.
Chance favors the prepared mind.
And compounding works wonders over the long run.
Apparently he started his first investment at age 11. 8 decades is a long time to compound even at low rates.
Many people manage to reach bankruptcy much faster than eight decades.