3 Tough Questions I’d Ask Buffett If I Won Lunch with Him

If you’re lonely, in dire need of a lunch date, or just happen to have a few million dollars lying around, you could try your luck at scoring the most successful investor in history.

The “Have Lunch with Warren Buffett” auction happens once per year, and the most recent winning bid reached as high as $3.3 million when all was said and done. Instead of being a meaningless opportunity for rich people to throw money around, the auction raises money for GLIDE, the favorite charity of Buffet’s late wife, geared toward serving San Francisco’s homeless population.

Some pretty cool things have happened to those who bid up for the meal. Ted Weschler, for example, paid about $5.3 million total to win the auction two years in a row. He now picks stocks and manages over $10 billion at Berkshire Hathaway Inc. (BRK.A).

I have to admit it would be cool to have lunch with Warren Buffett. I would even pick up the tab for his signature steak and hash browns at Smith & Wollensky or any other steakhouse of his choosing.

But while GLIDE may be a great cause, it could never inspire me enough to pony up the kind of money these rich Buffettologists are paying just to say they had lunch with their idol.

Yes, Warren Buffett is still the most successful investor and businessman in American history. He and right-hand man Charlie Munger have transformed Berkshire from an investment firm into an enormous collection of businesses. Very few people on the planet can make that transition with the same level of success.

Although I won’t shell out $3 million to share a steak lunch, I’ve long been brewing over many questions I’d ask him if I had the chance.

They concern issues that the Oracle of Omaha needs to get straight, for the sake of individual investors like us…

And honestly, three of them in particular may come off as a bit crass…

Get “Whacked” and Let the Market Party Begin

Ah, the classic “Whack-A-Mole” game.

We can all undoubtedly recall a time when we went to the arcade and played it. And it serves as the perfect analogy for the current market.

Recently, every time we felt like it might be safe to stick our heads up and look around – WHAM! – down came the hammer and the selling began again.

It has been a while since we have seen this type of selling persistence, and some folks I talked with during throughout the past week were getting a bit edgy about owning or buying stocks.

Straight up has been the path for the better part of the decade and buy the dip has been an infallible trading strategy. So naturally, the latest turn of events has left a mark on some people.

If you bought big on the first dip back in September, you have been hammered a couple of times now as prices just continued to fall. Every rally attempt was met with still more selling, and it stings a bit.

I’m sure a lot of people experienced a first in their lifetime, even in the past month as those who were long with leverage received their very first margin call.

But if you’re one of those people, let me explain why you should actually celebrate these recent lows

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