His initial money came from when he was a teenager i believe. Someone else responded to one of my comments and said it was when he was 14. He didn't start from nothing. He started with over 80,000 dollars in today's equivalent

Oh that's right, 100k is what I had read. Sorry, my mistake.

But yeah starting with 80k is a hell of a lot easier than starting at 0

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No. It's time.

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In any efficient market winning and losing is 100% luck just like a casino. Obviously if you have enough money you can push people around in a way that an average investor can't, but even getting to that point takes a lot of luck.

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Sorry, I didn't know much comment would upset you. I thought you'd find it interesting.

Basically, even though melatonin can provide great short term treatment, there's a strong risk of relapse when left to your own devices. Your brain is sinply hard coded to a particular sleep schedule. However, it's not really a big deal, because you can function just fine with an alarm clock. Plus, you can find work that works with your natural schedule.

I’m a Cowboys fans, so if we don’t make it, I’d definitely be rooting for the Vikings on the NFC side. Hate Brady, hate the 49ers, hate the Eagles/Giants, indifferent to the Seahawks, but I do like Kirk.

The difference is that roulette is a game of chance and investing in good companies isn't. That's the entire thesis behind value investing which buffett followed. The luck he talks about is getting in at the right time and exiting at the right time.

Speculation happens in the market but the only people that really benefit are the HFT traders, hedge funds and quantfunds / banks due to the trade volume/ speed of transaction. The market isn't based so much on chance as people think especially if you have enough money to move the direction of the stock

I'm annoyed that the eagles logo isn't turned the other way 🤨

The bend don’t break defense has been stressful all year but has worked during the regular season. My fear is that history shows it doesn’t work in the playoffs.

That's interesting and surprising. I had always assumed a fairly even worldwide distribution. Now I want to see the other types.

Could you point to the source please, I've not heard this. I know his dad was a congressman but he passed away when buffett was 33. Far before he was a large investor

$83k and $1M are obviously quite different.

That's a good idea

Not really. Let's say you go to Vegas with $10,000 and put it all on black at the roulette table. There's a roughly 50% chance you double your money and 50% chance you lose it all. Win 23 times in a row and you will almost 110 Billion. That sounds extreme unlikely, but if ever US adult did it you would expect to have made 20 people succeed. Ironically that's roughly the same order of magnitude of centi-billionaires in the US.

Based on average inflation rates, he was 14 in 1944/45, $5,000 in 1945 equates to about $83,000 in 2022. That’s a tad short of your $1 million claim.

Hell yeah we did. Made it to the dance. I love KOC and was more excited to see what he builds in the future. Was pleasantly surprised by the immediate success this year. I really just want to see the Vikings in the Super Bowl before I die

What money are you referencing? Do you just mean the fact that he had parents capable of taking care of him?

I'm asking, because having read a decent bit about this particular guy, I don't remember anything that stuck out to me in his life as a "windfall" of sorts like you're describing aside from just being born to a family with political connections.

It legitimately didn't seem like he had much handed to him that the average upper middle class person wouldn't have also had handed to them. There's privilege from being from that background for sure, but most upper middle class people don't become multi-billionaires.

You should do another one with 1-32 rankings of Offense & Defense by team per week

I'm not referring to his first fund. I'm referring to his first money

I believe it was his father iirc

I don't think that's accurate.

His first fund started with something like 100k in around 1950 which is something like 1.2 million today, but it wasn't a "gift" it was assets under management he convinced investors to let him manage for them.

He definitely has a lot of privilege from his background. He's literally the son of a multiterm US House of Representative member and has attended multiple Ivy League Universities. He had connections to be able to find those investors that were mostly luck and circumstances of birth, and if you listen to any interviews with the guy you'll hear that he acknowledges this "ovarian lottery" as he calls it.

That said, with his returns, he still would have ended up wealthy even without those initial investors and just investing his own money, it just probably wouldn't be centibillionaire level wealthy.

Oh? Where do you think the initial 5k came from? That's what I'm referring to. The data starts at 5k. And that was many decades ago, where current inflation makes it close to 1 million in today's money