Get rich like Buffett by taking advantage of psychotic drunks!
People often wonder how to get rich like Warren Buffett. Amazingly Warren has spelled out exactly how he does it year after year. He knows he can do this because 99% of individuals do not have the emotional strength to follow his perfectly laid out plan. He continually gives you his secret sauce if you care to listen. I did and have done extremely well as a result. Granted it is difficult because you will have to do things that your emotions tell you not to do. TV and all media will pull at you to take actions against your best interest. If you can overcome that you will do extremely well in the stock market over time.
Here is Buffett’s quote from the 2012 shareholder meeting:
“The beauty of stocks is they sell at a variety of prices. That’s how Charlie and I have gotten so rich. The market is a psychotic drunk, and sometimes Mr. Market does very strange things. It’s built into the system that stocks get mispriced. Don’t behave like the psychotic drunk. The stock market is the most obliging, money-making place in the world.”
A perfect example of this psychotic drunk is Apple right now. In 20 years I’ve never seen such a mispricing of a company. Apple is priced for zero growth and then declining growth in a few years. Even if earnings went flat in a few years the stock is still too cheap. Flat earnings are not in apple’s 5 year forecast.
Apple is a number one brand and number one loyal following. It has the number one spot in retail per square foot. It makes more profit then any company and is growing faster then 95% plus of the S&P 500. Everything is hiding in plain sight for Apple yet the psychotic drunk is doing his thing and giving buyers a chance to get rich by taking advantage of him right now.
How many will be like Buffett or run with the psychotic drunk? What will you do?