Cryptocurrency entrepreneur Justin Sun paid $4.6 million for a charity dinner with Warren Buffett in January.
Sun hoped to convert Buffett into a Bitcoin fan, but instead one of his guests, eToro CEO Yoni Assia, embraced Buffett’s value-investing approach.
Assia read the definitive book on the subject written by Buffett’s mentor, hired a value-investing consultant, and became a bigger proponent of in-depth research and longer investment horizons, Bloomberg reported.
The boss of the social-trading platform also tweeted that value investing is a “hidden magic that reveals itself to you only after 20 years of making 15-20% and compounding it.”
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Cryptocurrency executive Justin Sun shelled out $4.6 million for a charity dinner with Warren Buffett in a vain attempt to convert the billionaire investor into a Bitcoin believer. Instead, one of his guests embraced Buffett’s signature value-investing strategy, Bloomberg reported on
If you’re hoping to pay an investment professional to outperform the market to the same extent that Buffett did, I’ve got more bad news.
Buffett, CEO of Berkshire Hathaway and one of the greatest investors of all time, was a very rare bird. Active managers — i.e. professional stock pickers — are constantly claiming that they can outperform market benchmarks like the S&P 500, but they almost never do, particularly over periods of time that go beyond three or more years.