Findependent - Be Financially Independent
Findependent - Be Financially Independent
May 15, 2025 at 09:01 AM
🌱 The Forgotten Investor: A Story Warren Buffett and Rick Guerin In 2007, investor Mohnish Pabrai had lunch with Warren Buffett. During the meal, Mohnish asked, “What happened to Rick Guerin?” — a brilliant investor who worked with Warren and Charlie Munger in the 1970s but eventually faded from public memory. Warren replied: “Rick was just as smart as us. But he was in a hurry to get rich.” In the market crash of 1973–74, Rick had borrowed money (used leverage) to invest. When the market fell nearly 70%, he was forced to sell his Berkshire Hathaway shares to Warren… at just $40 apiece. That decision cost him the chance to become a billionaire. Warren then shared this powerful truth: “If you're even slightly above average, spend less than you earn, and stay patient… over time, you can’t help but get rich.” This story is a timeless reminder: 💡 Don’t rush. 💡 Don’t borrow to invest. 💡 Be patient. 💡 Keep it simple. Then, as Warren says, over a lifetime, you cannot help but get rich.
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