Many people feel that Warren Buffet was great at picking stocks and made billions by investing slowly over time in great stocks. However, that is not exactly how he made his billions.
He was an avid saver and extremely hard worker. By the time he graduated from college, he had saved over $100,000 in today's dollars. He had jobs and businesses since he was 11 including buying a farm when he was 14.
When he first made it big with stocks, it was not with his own money. He created a partnership where he invested $100 and his partners invested $105,000. He was the managing partner and entitled to a share of the profits over his guaranteed returns.
He was also great at buying companies. He did not just buy stocks, he bought companies. He bought companies, took control of them, and made them better. In one case he completely changed what the company was and what it invested in. That company was Berkshire Hathaway which used to be a textile company.
Buffet was smart and a hard worker, but it was not just stocks that got him rich.
I talk about it more in this article. https://investfourmore.com/2018/09/19/did-warren-buffet-get-rich-by-investing-in-stocks/
