The billionaire next door?

The billionaire next door? How?Can a billionaire be living next door? But Warren buffet is one! He lives in Omaha Nebraska for bout 45 years. He had bought the house that he lives in for 31.5K and he is happy. Upon asked by CNBC reporter why not move to mansion. His answer was “I’m happy with all I have got”. This is the answer he mentioned about 20 times in last one hours “a day with WB” a CNBC show.

Yes I came home early for the show. Luckily, traffic has not been bad and I was here in 15 minutes. So the time well spent. An hour of time watching who is WB? What’s WB’s philosophy and what’s his success secret.

University of Missouri actually teaches “WB way of investing”. They recommend book called essays for WB Larry Cunningham. Ashwath Damodaran in NYU – a professor in valuation – say his success is in his staying back in Omaha and not having wall street influence. Upon asking do you not hire Wall street host shots for due diligence? He answered “are they hot shosts?” and he added “he bought a company in Israel with out being there just on meeting that man.

Rule # 1 don’t loose the money, #2 don’t forget the rule #1., #3 do what you know? And don’t do you what you don’t. That’s what he describes his success.

link to his interview snippet