The Power of Patience: The Buffett Way

As you all know by now, I write about things that interest me.

I started investing when I was 16, which you can read about in my article here:

Warren Buffett, with his slow and methodical approach, has always interested me.

He’s always been an idol as well, since I was 16.

I’ve always compared myself to him because, well, why not? I’ve always wanted to be the best, and as a Capricorn, I seem to have an unrelenting drive for success.

The other day, I came across an interesting chart showing his net worth by age.

Naturally, I couldn’t help but compare myself once again.

He is a literal walking talking example of compounding.

Here’s another chart.

This inspires the hell out of me.

And it’s why I find groups like so valuable - they’re focused on wealth builders, not wealth killers.

This is what I’ve advocated for years—the slow and steady approach.

Picking up great companies for cheap prices, when they’re on sale, following the mantra, “buy when they’re cryin, sell when they’re yellin!”

Which, some may call me a hypocrite with respect to “Danny’s Doubles” - but this is just for fun and a small percent of my overall assets I’m playing with, which you can also read about that here if you like.

However, the majority of the stock picks I’ll be releasing soon as part of “Danny’s Doubles” really are just great companies I’ve been watching and like, waiting for the right entry point.

It’s that right entry point that I believe will make the stock double in a relatively short period of time.

I believe they all have the potential to double based on fundamentals, but as mentioned, I’m waiting for the right time to jump in.

I’ll share more on that in the coming weeks and months, as I see this doubling thing taking time as they are real companies, with real growth and real opportunities.

Anyway, back to Buffett and billionaires.

The average age of billionaires globally, according to 2022 data, is between 50 and 70, with more than 40% being older than 70.

The data highlights that accumulating such significant wealth typically requires years, often decades, of disciplined investing.

Buffett’s wealth continues to grow well into his later years.

By age 72, his net worth was $35.7 billion, and today it stands at $146 billion, making him the sixth-richest person in the world…

Even after just turning 94 on August 30th, he shows no signs of slowing down. He continues to earn and live modestly, despite his immense wealth.

I love this.

All of this is to say, as one of my idols, Buffett exemplifies the “slow and steady” approach.

I’ve never believed in fast money or get-rich-quick schemes.

All that said, I’ll be posting my next article on the Stocks I’m Watching in the coming days.

These are stock picks that I believe, once again, have the potential to double, or more, over time. They’re companies I’d be comfortable holding for 10+ years, because that’s where the real growth lies.

This long-term focus also helps tune out market volatility, which is crucial for staying in the game.

Short-term fluctuations shouldn’t scare you; they create opportunities.

Think of wealth-building like a snowball rolling down a hill. It starts small, but as it gathers snow… over time… it grows into something massive.

Buy on weakness.

Accumulate slowly, over.. time. For time, is what creates wealth builders, not wealth killers. For time, is what creates billionaires.

Stay tuned for more.

Happy hunting!