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Warren Buffett's "secret sauce" for success has one key ingredient: time
Warren Buffett is one of the most experienced and experienced investors in the world.
He has confessed that he owes a large part of his fortune to compound interest and the key is being the oldest
Warren Buffett is one of the oldest investors, both by age, already 93 years old, and by years of experience dedicated to investing professionally. He has been at the helm of Berkshire Hathaway for six decades, the investment company he founded with Charlie Munger, who died in November 2023 at the age of 99.
Buffett's good sense of smell has elevated him to the top of the Forbes billionaires list with an estimated fortune of $135.4 billion. That makes many of those who have the opportunity to speak with him ask him what his secret to success is. His answer: Most of the work is done by time.
The one known as the “Oracle of Omaha” differs from other investors due to his investment strategy based on investing in business models, with stable economic characteristics and reliable managers, rather than in products. This philosophy, known as value investing, is based on holding high-performing stocks for the long term rather than trading based on short-term price fluctuations.
Warren has spent decades as one of the main investors in companies such as American Express, Coca Cola or Apple, and he does so not because he faithfully believes in the iPhones that the apple company launches every year, but because he trusts in the business vision of his managers.
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According to Morgan Housel, author of the book 'The Psychology of Money', "All of Warren Buffett's financial success can be linked to the financial foundation he built in his younger years and the longevity he has maintained."