alt Hacker News>>Here are some things Buffet has done that I admire (notice that phrasing):
Perhaps the best thing Buffet has managed to do is to live long. Most of compounding magic begins at ages 60-65, a time where most investors start to die out.
Second best thing he did was to start/acquire a insurance firm. The 'float' helps them to run a kind of in house index fund on other peoples money, without having to pay TERs/Fees. Thats basically no effort bogle style compounding. Even if you end with a situation where you have to return ALL the premiums collected, you still get to keep the returns.
Other wise everything else is just fairly normal, if you are sitting in front of charts for long, its impossible to miss something that's going up on a weekly timeframe for long periods of time. You just pyramid upwards and wait, patiently.
The real issue is waiting doesn't work too well for most people as you start to die out after 60.
> Most of compounding magic begins at ages 60-65, a time where most investors start to die out.
Percentage-wise, few wealthy investors are dying out at ages of 60-65. In the US, males that make it to age 60 have a life expectancy of 81-82. But that's across all men - life expectancy is strongly correlated with wealth in the US, so a man in the top 1% could very reasonably expect to live to very late 80s/90s.
Nevermind that Buffet was still fabulously rich when he was 60, so none of your logic makes any sense to me.