Dollars and Sense: Warren Buffett’s Advice Can Make You Wealthy

Dr. Harold Wong

Warren Buffett currently ranks as the eighth wealthiest person in the world with $133 billion. Buffett’s net worth would rank him much higher if he had not donated $51.5 billion to charitable causes, placing him at the top of Forbes’ 2023 list of America’s most generous philanthropists. Source: June 23, 2023, Forbes article by Chase Peterson-Withorn, “The World’s Biggest Philanthropist Just Gave Away Another $4.6 Billion.” This article will cover some of his rules on money and life.

Beware of anyone who advises you on money who has a high lifestyle!

If the stock market drops or they have difficulties in their business, they do not want to give up their high-status lifestyle. Some will cut corners or even cheat their clients. Many financial advisors impress their clients with their fancy offices, homes, and cars. In contrast, Buffett lives in the same Omaha, Neb., home that he bought for $31,500 in 1958. He drives himself to his office every morning and stops at McDonald’s for breakfast. Question: Do you value substance over style? Does your financial advisor drive a fancier car than you? Does your financial advisor have a higher net worth than you, and if not, why are you taking advice from him?

Go against conventional wisdom!

One of his famous sayings is, “Be Greedy When Others Are Fearful, and Be Fearful When Others Are Greedy.” In other words, Buffett will sit on hordes of cash until he can buy a great company at a fair price. Berkshire-Hathaway now holds $35.55 billion in cash and $153.44 billion in Treasurys, for a total cash hoard of $189.99 billion. With the large stock market increase of the last 16 months, the Buffett Index tells Warren that the stock market is overvalued. Buffett is willing to wait patiently until he can get a good deal on a great company.

Invest in great companies that have a moat against competition!

In September of 2020 it had taken Berkshire-Hathaway 12 months to acquire a 5% interest in Marubeni, a giant Japanese trading company. This has been the number-one performing company out of 80 that Berkshire-Hathaway owns, because the stock has tripled in the last three years. Marubeni has been trying to buy into a local Arizona company that, according to the California government, has invented the only zero-emission technology that is commercially viable. The California government has given this Arizona company two multi-billion dollar markets. Come to the seminars below to discover why this Arizona company has no competition.

Attend my Free Live Seminars: Tuesday, June 25, or Wednesday, June 26, starting at 6 p.m. at Hyatt Place, 3535 W. Chandler Blvd. Chandler, AZ 85226. The seminars are followed by a free catered meal. The topic is “Secure Your Financial Future: Lessons from Warren Buffett!”

To RSVP for the seminars or schedule a free consultation, please contact Dr. Harold Wong at 480-706-0177 or [email protected]. His website is