How Warren Buffett's Favorite Things Made Him Rich | Phil Town

Can you connect your passions to companies you can invest in? Share with me below! To keep you inspired, I've put together a book of the greatest quotes by Warren Buffett. Get it here >> http://bit.ly/31UOT0G

I just stumbled onto your channel. It's nice that Buffett was able to buy a company for $25,000,000 that makes $65,000,000 a year but my question is how do I make $1000 turn into $10000 and turn that into $50000 and turn that into $100000 and so on. I'm a beginning investor trying to learn and I don't make a lot of money. It was really hard just to save up this $1000. If you have $25,000,000 to invest you are already rich and set for life so making even more millions isn't that exciting. So how do I get to $10,000 with $1,000?

Phil, I have traded MCD & KO in the past six months and I cannot say how boring these stocks are, they take for ever to show gains, same value or close to one year ago price, maybe if I wait for 40 years like Warren I would be able to reap the benefits. MCD, perhaps is more fun, about 17% up this year, and lots of creativity with new servings of MCD worldwide which translates into more profits bringing the stock up. Please note I ONLY buy Coca-Cola for my car battery terminal sulfation, and occassionally visit McDonalds when my Alsatian dog wants to munch a burger, as he finds delicious these junky stuff. I cannot believe Warren has made it this far by sipping Coke daily and breakfast at McD, what an irony, this guy reads tonnes of books but he has not grasped the meaning of good nutrition, rich man on greenback but very bad example for our children if they ever ask and I quote: "Dad would sipping coke and breakfast in McD would make me rich like Warren Buffett????"

Excellent video Phil, really love your channel. There is a similar principle when starting a new company: "Scratch your own itch", meaning working in something that you yourself would enjoy using. A perfect example of this is Mary Kay, the woman who started that company didn't need to validate the quality of the makeup because she herself enjoyed wearing it. I knew about the circle of competence in value investing but I wasn't familiar with this concept of also investing in things that you love, I gotta say It's opened my mind, it's really a valuable lesson because it makes a lot of sense: you tend to be more invested in the things that you like or love in life.

Yes cereal, and jolly rancher candy are items that make me happy before watching this video I had no idea that Jolly rancher candies are under the Hershey Company

I am new in the channel. Seems good, but please ( PLEASE!!!) do not add music in the background!

I love software, biscuits and reading

Looking for important books I should read, please give me any suggestions… (to anyone)

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Hey Phil I am a long time viewer of your channel and podcast. First of all i wanted to thank you for your high quality content, I've really learned a lot from you. I do need to ask you two questions.
1. On your last podcast you said that people are following into the 10 year bond because they are predicting a massive correction. On this video you said that people are following into the stock market because the yields on note bills are in an historical low. How do both these statements fit together?
2. What if you are wrong about the market? What if the stock market continues on its bull run for another 7-10 years? It might very well be that when there will be a 40%-50% crash then stock prices will still be as high or higher than they are right now! In other words, if MMT is correct you could be missing out on huge gains. Munger himself said that we are either in a huge bubble or that the market is extremely undervalued. For all we know the fed might leave the rates low for many more years regardless of the disastrous consequences that may follow.

Really hope to hear from you.
Thanks!

I like Coke too but the coke that I like isn't on the stock market. Haha just kidding but it was too good of a joke to not say it

Things I love:

-Dancing
-Rapping (especially the lonely island songs)
-Sunshine on my face
-Eating chocolate
-Explaining concepts
-Exploring new places

Can I invest in these things? probably! Can't hurt to try 🙂

What a hot man!

I love Warren Buffett, and I don’t begrudge him his coke. But his eating habits are nutballs! When they first became friends Munger and his wife referred to Buffett as “that young man who doesn’t eat his vegetables!” I know he loves to read 10K’s, but I wonder what else he reads besides financially related materials? With all that reading he must be very sedentary. I guess he knows how to sit still. At 88 who can argue with him?

What really made Buffet rich? The FED, bailouts and near zero low interest rates.

Mr. Town – you mentioned about the love of reading and made wonder, how do you feel about audible books? Are they an advantage for consuming more books? or do you believe you don't get the same benefit?

Hard work and determination made him rich

No wonder he is successful!

I think his famous quote says it all. It simplifies the way people look at investing. Most people are afraid to keep it simple when investing and thus fail to profit from stocks.

I would rather be an investor in Gucci,Zara, Supreme etc than a customer…it's just pure stupidity to buy those things.. And on the other hand I would gladly buy a great product from an other company rather than being its investor…like Tesla for example..

I'm kicking myself for not buying Beyond Meat in May when they 1st opened up. I think they may be topped out to buy now. What do you think?

Reading! Reading! Reading!
Fantastic book I recently read was Game Changers: What Leaders, Innovators, and Mavericks Do to Win at Life by Dave Asprey. Get into it!

Hmm the way I look at it, very heavy on consumption stocks, in my home market (India) consumption stocks rule the roster as well which has resulted in high PEs and stretched valuations.

Hey Phil, thank you for your wisdom.
I do have a tiny query.
How to make a living off of the stock Market?
By that I mean, for example. I am invested in quality companies and do have a descent portfolio.
The issue that I would like you to address is,how do I pay for monthly dues and payments without selling any shares, if I am only invested in the market and do not have any other mode of income ?

Thank you for your educational video, Phil. I have one serious question: What do you want to say, when you end with "And now go play!"? Play the stock market? Or: The lesson is finished and the class is dismissed? I like your videos very much, bought and read both books years ago and started reading annual reports last week. It is interesting and I will continue doing this.

What is the best site for reading information about companies?

Love your opinions and point of view, am an investor in RULRX, a student or your weekend seminars and investing classes, thanks for your time. Earl and your brother have been inspiratons.
Marty in Alaska

Love this channel

This was great info ready as ever;)

Hi uncle Phil! Just taking a break from reading/creating my own three circle analysis in chapter 3 of your rule number 1 book AND coincidentally saw this video of yours ?

I saw your 3-day seminar in The US information and became very interested, but I really don’t think I’ll be able to get there from Thailand any time soon ? Do you think I’ll be just as fine reading your book(s)?

Great tip. We just use our everyday observations and things we like to make sensible investing decisions for our youtube portfolio.

What made Warren Buffett rich? Hours of research, dedication, and not being scared to invest his money when others are fearful ?

Thanks Phil.

How do you get rich when there’s no whore house and cocaine stocks, cus that’s what I love.

Buffett was a great investor but if it wasn't for the corrupt bankers bailing him out he would have lost nearly all of his and his clients money in the financial crisis!! And because of his exposure to banks in the coming crisis he will lose it all!!

Interesting subject but Warren B. likes things general public like, what happens if you have like unique stuff?! putting your money what you like is dangerous then…

Buffett invests in coke and mcdonalds because he is ancient & back in his day mc donalds was the nearly the only fast food restaurant in existence and coke was the only major soda brand until pepsi finally gave them a tiny bit of competition in the 80s. I think the lesson here is buy into monopolies that are willing to do ANYTHING to make money. I would ask if he is invested in google as well but something tells me he was way too old to see the value in that during its rise.

Hello Phil what are your passions & how that lead to your investing success. Please share in the form of Rule 1 investing video.

What is your profession

What would all you Rule #1 investors in the comment section say is the best website to get 10 year financials of companies?

Weekly one video
my suggestion is at least 2 video

I read but not as much as Buffett. Maybe one day. ?

Thx for sharing this Phil!

I loved Rule #1…I recommend it to everybody ?