Bitcoin is “rat poison squared.”
Warren Buffett, as reported by CNBC’s Becky Quick, May 5, 2018
Having made his feelings about Bitcoin perfectly clear, it’s safe to assume that Warren Buffett wants nothing to do with any of the crypto fueling blockchains, NFTs, metaverses, and the entire web3 ecosystem. No doubt periodic crises in the ecosystem are only reinforcing his animus.
Consequently, a new generation of investors interested in these innovative technologies are likely to be as dismissive of Buffett as he is of Bitcoin. With the web3 economy poised for continued and dynamic growth, this is a huge missed opportunity. Investors can easily learn how to invest in web3 using his approach!
Chairman and CEO of Berkshire Hathaway, and arguably the greatest financial mind of all time, Warren Buffett succeeded by purchasing businesses with income producing assets at fair prices and investing in strong management teams. Over a six-decade career, Buffett grew Berkshire Hathaway at a compounded annual rate of 20.1%. If you had invested $1,000 in Berkshire Hathaway in 1965, you would have over $36 million today; pretty astounding results.
Despite his animosity toward crypto, Buffett’s approach to investing is absolutely applicable in today’s burgeoning web3 world.
As a registered investment advisor representative, I think it’s a shame his sage advice is going unnoticed by those who could greatly benefit as participants in an exciting but volatile new arena. While there are myriad views on the value of digital assets, evangelists and advocates can benefit from decades of investment experience embedded within Berkshire Hathaway’s written history.
The best part? The annual Berkshire Hathaway shareholder letters that Buffett wrote beginning in 1965 provide a treasure trove of investment advice for shrewd readers to employ on their own. Year after year, he created heartfelt content brimming with wisdom and best practices.
These letters contain the recipe for his investment success.
But let’s be honest. Who has time to read nearly 1,000 pages of shareholder letters spanning nearly 60 years when there are businesses to build, code to write, and countless new investment opportunities to consider?
So I did the work for you!
Now you can be the Buffett of Web3 with this handy investment guide!
I began reading Buffett’s shareholder letters many years ago, taking copious margin notes along the way. Revisiting these letters has been a labor of love, and I wanted to share what I learned with as many people as possible.
I shared this vision with Steven Teplitz, my good friend and Block3 Strategy Group co-founder. Steven’s reaction was enthusiastic, and he immediately agreed to work with me on turning this idea into a book.
Together we narrowed down which Buffett “pearls of wisdom” to include from a list of more than 150. We discussed and debated their applicability and worked hard to present our thoughts and analysis in a manner that paid tribute to Buffett himself: simple and straightforward.
Each chapter of what turned into Warren Buffett in a Web3 World contains quotes taken directly from the Berkshire Hathaway shareholder letters written by Buffett, identified by year, arranged in chronological order, and accompanied by our reflections and observations as they pertain to the web3 space. The result is an accessible and easy-to-read guide inside the mind of the Oracle of Omaha, but with a crypto twist.
Those interested in reading any of the shareholder letters in full can find them at www.berkshirehathaway.com/letters/letters.html.
It was an absolute adventure learning how to invest in Web3 like the Oracle of Omaha!
Including information about Berkshire Hathaway as a company, and Warren Buffett as an individual, was not part of the original plan. But we learned a great deal about both and felt compelled to share some of the amazing stories and details we came across.
The writing process also made clear that the web3 ecosystem is spawning a whole new language, and new words are being added to the lexicon at a rapid pace. So for readers who might come across unfamiliar terms we added a glossary.
Warren Buffett in a Web3 World is not meant to be a deep, technical examination of investment strategies with formulae, spreadsheets, or specific recommendations. Instead, the hope is that readers will consider Buffett’s time-tested approach that provided the foundation for Berkshire Hathaway’s rise to dominance and use those lessons to grow wealth in a web3 world.
I hope this sounds intriguing and you’ll click on this link to get your copy today. Are you ready to learn how to invest in web3?
To continue building on this project, we’ll be featuring a weekly “Warren Wednesday” blog post that will take each analysis to another level. We’ll include expanded context from Buffett’s investment wisdom and dig deeper into their applications into the web3 space.
So please check back each week. See you then!