Max Wealth with Tim Melvin

The Berkshire Hathaway Inc. (NYSE:BRK.A) shareholder letter was released Saturday morning to an audience of Buffettologists who await the release every year like the crowds in St. Peter’s Square await the Sunday afternoon appearance of the Pope.

Every word of the letter will be read, analyzed, evaluated, and pondered by the Warren worshippers over the next few days.

Enormous amounts of cash will be shifted around in investors’ portfolios based on what they think Mr. Buffett meant.

If you understand markets and investing at all, you have to appreciate what Warren Buffett has accomplished over his lifetime.

He has compounded Berkshire’s worth by 20% a year since 1965, a feat unmatched by mere mortals.

He is not only a brilliant investor, but he’s also proven himself to be a brilliant businessman.

However, I tend to think that unless you’re an 86-year-old billionaire running a $560 billion company, it’s probably a not a great idea to try and duplicate what Warren is doing with his company at a given point in time.

If you want to put yourself on the path to grow your wealth at that pace, here are some key items from Berkshire’s letter that you should focus on…

Sports betting is sweeping across the country since the Supreme Court struck down restrictions on gambling activities in 2018.

Nineteen states have legalized some form of betting on sports, and at last count, 17 states had bills pending that would open up the state for betting on sports.

It’s pretty much a “have to do it” item.

Those states that dig in their heels and maintain their nanny state status are going to see residents cross the line into the next state to make bets, and all the tax dollars associated with gambling will go there instead of filling home state coffers.

The plain truth is that just like with cannabis legalization on a state level, allowing sports betting has nothing to do with public good or safety.

It’s all about the Benjamins.

States need the tax revenue, and it’s a lot easier to collect money form willing bettors that it is to raise income or sales taxes.

Infrastructure needs to be repaired, and school systems are chronically short of money across the United States.

For many states, today, having a stoned citizenship that is betting on the hometown teams to win every day is their only hope of making up budget shortfalls.

Naturally, all of this activity has also attracted the attention of investors…

You Don’t Have to Be a Billionaire to Invest and Profit Like One

Here’s What You Need to Know About the Big Wager on Sports Betting