Becoming Great
I want to learn how to invest. Right now I am pretty young, and while I may or may not end up in high finance, I want invest well. Simply put I am interested in stocks and long-term investing in hopes of making money for myself. I have started reading books and looking up many numbers to look at and valuation techniques, but I am still an extreme novice. Obviously going to school teaches a lot, yet I have no clue as to how much is actually taught in school and how much is learned (as it is in law school).
Out of your own experience, aside from getting x degrees in finance related fields, how much would you say working in high finance has taught you? I'll say it: I want to emulate Warren Buffett. I know it is just a pipe dream of a little kid wanting to be a pro football player, but I can at least have a goal. I understand value investing vs. other types on a basic level. Are people like that born as investors or do they just have high potential that is unlocked by going to school and then working in the finance industry?
Essentially, if a person gains enough experience working on Wall Street or in some other big-time bank, can that person eventually have a winning personal portfolio; does working in high finance help immensely with meeting this goal? From your own experience, do you feel that if you invested your own money, you could make a killing?
If yes, what would you say is the biggest aspect of your life that taught you to invest so well?
I hope what I am asking makes sense. I want to learn!
Thanks.
I've been told the best way to become great is to sling rock or have a wicked jump shot...
In all seriousness, your questions are all over the place but yes, you can work in 'high finance' and have a winning personal portfolio. You can also work in high finance and have a losing personal portfolio and end up having to go back to work as a branch manager at Wachovia (I've seen it happen). Keep reading, learning, and talking to people in various fields that interest you. Learning to invest well is about education, experience, and a little bit of luck.
Like you said, telling someone you want to be like Warren Buffet is like saying you want to play pro football but the barriers to entry in one are much different than the other. A more accurate analogy would be saying you want to be like Warren Buffet is like saying you want to be Tom Brady. Who wouldn't?
Dope reference, pun intended
Charlie Munger once said that the best way to become great is to deserve it. Bill Gates says to become great, you need focus.
So, put in the hard-work, read lot's, and don't forgot to make friends on the way. Because you can't do it yourself.
Oh, you're also going to need luck. But clever men know more lucky things happen if you prepare.
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