A 36-year-old who learned to invest like Warren Buffett explains his No. 1 rule. via CNBCMakeIt
When Danielle Town found herself burnt out and even starting to get sick from her work as a corporate attorney, she knew she didn't want to keep working at the same breakneck pace for much longer. So she started brainstorming ways to retire faster.
But Town was reluctant to turn to the stock market as a means to fast-track her retirement."I had heard 'Rule No.1' my whole life. And I ignored it my whole life," says Town, now 36."I thought, 'What does that even mean?'" "My dad's point is deeper than it sounds: buy a wonderful company when it is a bargain and only when you are certain that it will be worth more 10 years from now than it is today," Town writes in her book.
It's a strategy Buffett has benefited from time after time. He purchased See's Candies with longtime business partner Charlie Munger in 1972 and spent more than $1 billion on Coca-Cola stock in 1988 — both of which turned out to be good bets and both of which he still owns today. To emulate Buffett's success, Town knew she couldn't pick stocks at will and be done. She spent a year working with her dad to further understand value investing and narrow down which companies she wanted to buy into for the long-term. She chronicles her step-by-step journey in her new book,"Invested: How Warren Buffett and Charlie Munger Taught Me to Master My Mind, My Emotions, and My Money .
So far it's working out for Town. After months of research, she decided to buy shares in Whole Foods. And then, when the company was bought by Amazon, she decided to cash out."Despite our desire to 'never sell,' selling was inexorably part of this practice," she writes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A 36-year-old who learned to invest like Warren Buffett explains how saving can cost you moneyA 36-year-old who learned to invest like Warren Buffett explains how saving can cost you money. via CNBCMakeIt
Read more »
Tallying all 36 pages of redactions in the Mueller reportThe redacted report from special counsel Robert Mueller released on Thursday clocks in at more than 400 pages -- and, by CNN's best estimate, includes over 900 redactions totaling more than 1,600 lines.
Read more »
Trump said he couldn’t remember 36 times in response to special counsel Robert Mueller’s questionsIn written responses under oath, the president said his memory of crucial questions was hazy.
Read more »
Revealed: The U.S. military's 36 code-named operations in AfricaYahoo News has assembled a list of three dozen code-named operations across Africa. While the Pentagon has acknowledged the names, locations and purposes of some of these operations, others are far lower profile. Almost all are unknown to the general public.
Read more »
Man who sent white powder to Trump's sons to be sentencedBOSTON (AP) — Prosecutors are seeking three years in prison for a Massachusetts man who admitted to sending threatening letters filled with white powder to President Donald Trump's sons and...
Read more »
Daniel Romanchuk becomes youngest to win men's wheelchair division of Boston MarathonDaniel Romanchuk becomes youngest to win men's wheelchair division of Boston Marathon. The 20-year-old finished the 26.2-mile race in one hour, 21 minutes and 36 seconds.
Read more »
Meet Derrick White, the breakout star of the NBA playoffsMeet San Antonio's Derrick White, the breakout star of the 2019 NBA playoffs. White had a career-high 36 points in the Spurs' Game 3 win vs. Denver.
Read more »
Facebook 'unintentionally uploaded' email contacts of 1.5 million users: reportFacebook had "unintentionally uploaded" email contacts of 1.5 million new users since March 2016, Reuters reported late Wednesday, citing company confirmation in its report. New users of the social media site were being asked to verify accounts with their email passwords, a process that in some cases uploaded those users' email contacts to Facebook, the company told Reuters in a statement. "These contacts were not shared with anyone and we are deleting them," the company told Reuters. Facebook has dropped the email password verification requirement. It's the latest discovery about a company already under scrutiny for privacy-related issues, including a data scandal in which Cambridge Analytica obtained 87 million Facebook users' personal information without their consent. FB shares are slightly lower in Thursday pre-market action. They're up more than 36% year to date.
Read more »
A 36-year-old who learned to invest like Warren Buffett explains how saving can cost you moneyA 36-year-old who learned to invest like Warren Buffett explains how saving can cost you money. via CNBCMakeIt
Read more »
What impressed Warren Buffett when he first met LeBron James—and it wasn't his basketball skillsThis is what impressed Warren Buffett when he first met LeBron James—and it wasn’t his basketball skills. via CNBCMakeIt
Read more »