Warren Buffett: Bloomberg Game Changers (2013) is a documentary from Bloomberg Television about Warren Buffet, a billionaire investor who became the world’s wealthiest person by buying stocks from companies, and later companies, that were: easy to understand, well managed, competitive, enduring and profitable businesses, such as See’s Candies, GEIKO insurance, and Fruit of the Loom clothing – all of which became subsidiaries of Berkshire Hathaway, his investment company.
One path to obtaining wealth is investing long term in the stock market, which has an S&P 500’s historical average return of 10% per year: Buy stocks when the market goes down/stock prices drop, keep those stocks for multiple years/decades, and “know what you buy, and buy what you know.” — Motley Fool
Buffett: “Many people take their cues as to what to do from what the market itself is doing, but [Benjamin] Graham would tell you that the market is there to serve you, not to inform you. And basically he was saying the market will be wrong… sometimes the market is very, very wrong and if you look at the prices of stocks as buying pieces of businesses, you will be able to recognize when the market is very wrong.”
Narrator: “He was picking stocks that others were ignoring, and his stocks kept going up.”
Roger Lowenstein: “He’s devouring every annual report, and they stayed devoured. He remembers them and he’s got these balance sheets in his mind, so that if a stock gets cheap, you know, three years later, he remembers what the fundamentals of the company are. This is a ‘buy now’.”
- Apple’s stock, at whatever price, is a real ‘buy’ (marketwatch.com)