Multi-billionaire Warren Buffett’s folksy personality and Midwest practicality belie the fact that it’s tough to emulate his approach to wealth-building, which leans toward buying companies outright.
Since he also buys shares in lots of companies he doesn’t completely take over, notably those with wide economic moats, we can follow at least that part of the Buffett formula, especially since owning a stake in the Buffett magic directly – through his Berkshire Hathaway (BRK-A) – cost $237,000 for a single share. Besides, the stock doesn’t pay a dividend.
We also can follow the ‘Wizard of Omaha’s’ retirement advice, which is the suggestion he gave his wife’s trustees as to how they should invest the untold millions she will inherit once he dies.
