Berkshire Hathaway’s annual shareholder meeting just wrapped up and there was one takeaway from our favorite Buffett & Munger duo that really stood out to me.

Let’s travel back to 1952. Warren Buffett has just married his Susie Buffett, and the two are traveling along the US west coast. Allegedly Warren Buffett filled the trunk of their car with annual reports from stock market companies that he wanted to do research on, even during their honeymoon. That’s dedication. Anyways, the married couple was visiting The Flamingo in Las Vegas because three fellow Omahans had just purchased a stake in the famous casino.

When they entered the Flamingo, the then 21-year-old Buffett announced:
“I’m gonna get rich. I mean, how can you miss? If people are willing to do this, you know, then this is a land of opportunity. Well, it’s the way it still is.”

Buffett is talking about making money in the stock market here. How did this casino crowd convince Buffett that he could become rich through stock market investing? And why does he say that it still applies in the stock market today?

---

My main tool for fundamental screening and analysis of stocks: https://app.tikr.com/register?ref=tsi
(If you sign up I earn a small commission)