In his annual letter to shareholders, billionaire and Berkshire Hathaway CEO Warren Buffett talks about how two small non-stock investments in real estate from years ago were keys to teaching him about investing.
Buffett says in the letter that in 1986, he purchased a $280,000, 400-acre farm about 50 miles north of Omaha, Neb. From 1973 to 1981, the Midwest saw an explosion in farm prices, but then the bubble burst and prices declined up to 50 percent or more. That’s when Buffett decided to buy.
“I knew nothing about operating a farm,” Buffett writes. read more here – http://finance.fortune.cnn.com/2014/02/24/warren-buffett-berkshire-letter/
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