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People with enormous wealth who typically live frugally buy (or charter) private jets to preserve something far more valuable than money: their time. Buffett has a private jet as well, btw.
Buffett has a private jet company as well, btw.
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aka. Dollar-cost averaging?
Long story short: you can't predict the market. If you buy all your stock on one day, and in hindsight it turns out to have been at a peak, we'll you're screwed aren't you. If you buy your stock in periodic roughly equal sized increments over a period of time, the average cost of the stock will correspond to the stock's average over the long term. (i.e. sometimes you get it "cheap" when the market is beaten down, som…
EX: While buying 100$ in stock at 10$/share and 100$ in stock at 20$/share means the average price was 15$ you have 15 shares for 200$ which is 13.33$ / share.
This mans sounds pretty cool, although I'm not about to defend IBM either. Lots of money, yet lived frugal. Reminds me of Buffett (although I recently keep wondering why Steve Jobs, who is very frugal, bought an SL 55). Anyone know why people buy stuff like that when they typically lead pretty frugal lives relative to their monetary wealth? Same thing with Larry and Sergey buying a jet. Any ideas?
An SL 55 is about $120k. Plenty of non millionaires drive cars that cost half that (and I bet there are non millionaires that drive SL 55s) - for a billionaire, where it's a rounding error on his net worth (though probably not on his liquid cash), it basically is frugal.
This mans sounds pretty cool, although I'm not about to defend IBM either. Lots of money, yet lived frugal. Reminds me of Buffett (although I recently keep wondering why Steve Jobs, who is very frugal, bought an SL 55). Anyone know why people buy stuff like that when they typically lead pretty frugal lives relative to their monetary wealth? Same thing with Larry and Sergey buying a jet. Any ideas?
According to Guy Kawasaki, he bought a BMW motorcycle during the development of the original Mac, which he kept parked near near the lobby of the building where Mac development took place. According to Kawasaki, Jobs referred to it as living art.
Supposedly he later kept a BMW motorcycle, (not clear if it was the same one) in the living room of Jackling house, his mansion in Woodside.