How does a 14-year-old get $67k?
Warren Buffett's Net Worth by Age
41–50 of 67 posts
Re: Warren Buffett's Net Worth by Age
#42Just a warning: The X-axis in the graph is not regularly spaced: some labels on the bars are separated by 3 years, some by up to 13.
It looks like a logarithmic axis.
A nice way to think of it is that a linear line on a logarithmic axis would look exponential on a linear axis.
Re: Warren Buffett's Net Worth by Age
#43Earlier quoted context omitted.
You misspelled that asshole's name. Find another teacher.
I'm not really sure you understand the situation. A pharmaceutical company makes a drug which they priced when they acquired it a long time ago, they're the only company which makes a drug for that specific condition. The drug is priced at $13.50 per pill, which is sold in bottles of 80 pills and is covered by insurance, with a co-pay of $20. Most bottles actually cost only $1, which is a federally mandated amount fo…
If you're familiar w/ Martin's previous business dealings, you would know that his business model had nothing to do with research.
What he has done (twice) is find a niche drug whose supply could be constrained (thiola @ Retrophin and daraprim @ Turing) and gouged the price on it.
Claims to being interested in R&D were nothing but public relations.
You should read the SEC complaint against him (https://www.sec.gov/litigation/complaints/2015/comp-pr2015-2...). Not the type of person I want to consort with.
Re: Warren Buffett's Net Worth by Age
#44Re: Warren Buffett's Net Worth by Age
#45Earlier quoted context omitted.
You misspelled that asshole's name. Find another teacher.
I'm not really sure you understand the situation. A pharmaceutical company makes a drug which they priced when they acquired it a long time ago, they're the only company which makes a drug for that specific condition. The drug is priced at $13.50 per pill, which is sold in bottles of 80 pills and is covered by insurance, with a co-pay of $20. Most bottles actually cost only $1, which is a federally mandated amount fo…
The company going out of business would almost certainly not mean the drug would stop being available. The company's assets would have to be liquidated and the rights to the drug would be bought by another company. Hopefully one that is a little better at managing their expenses such that they don't put themselves into similar "price gouge or die" situations.
Re: Warren Buffett's Net Worth by Age
#46Earlier quoted context omitted.
You need to adjust for inflation, though.
We both experienced inflation, but sure, let's work it out: £50 when I was 14 was worth £90 in today's money. Buffett's $5k was $68k. Buffett's age-35 7M was worth 53M in today's money. So I'd need £70k in today's money to match his net worth growth. That's exactly the same. I'm actually surprised by this, as it suggests both Buffett and I experienced the same level of compound inflation over the 20 years of our live…
Wow! Tell me your secrets! :-)
Re: Warren Buffett's Net Worth by Age
#47Earlier quoted context omitted.
You misspelled that asshole's name. Find another teacher.
I'm not really sure you understand the situation. A pharmaceutical company makes a drug which they priced when they acquired it a long time ago, they're the only company which makes a drug for that specific condition. The drug is priced at $13.50 per pill, which is sold in bottles of 80 pills and is covered by insurance, with a co-pay of $20. Most bottles actually cost only $1, which is a federally mandated amount fo…
Either Wikipedia is wrong (possible), or you are the one who should investigate:
Re: Warren Buffett's Net Worth by Age
#48Wow, that's an average 26% per year increase (for the non-inflation-adjusted data) over a 70 year timespan. That's definitely not a random walk down wall street [1]. For reference, Dow Jones seems to have about 7% per year for the same time period. [1] https://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street
Thanks for the link. Actually, I've been watching a finance class given by the infamous Martin Shkreli (I came across it in an other HN comment recently). https://www.youtube.com/watch?v=ARrNYyJEnFI and I've been pondering this efficiency hypothesis. Basically, he explains how to pick stocks by fundamental analysis. Very entertaining to watch how this type of investors works. However, I can't help thinking that despi…
I started watching his videos as well. Interesting stuff. But one thing that stood out for me was what he said once along the lines: "I recommend many stocks, I rarely buy stocks myself".
Re: Warren Buffett's Net Worth by Age
#49How does a 14-year-old get $67k?
Everything thoroughly documented here:
https://www.amazon.com/Snowball-Warren-Buffett-Business-Life...
It is a great book which really explains how extreme an investor Buffett is. Few would be able to stay fully invested for a lifetime like he has.
Re: Warren Buffett's Net Worth by Age
#50Insider trading is not illegal http://cnbc.com/id/43471561
What's the relevance of that to Warren Buffett?