Warren Buffet's Investing Advice

by Maureen E. Hook, Ph.D.
May 20, 2013

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Did you know that Warren Buffett is the voice of a new animated series that offers investing advice to kids? He has teamed with Andy Heyward, a producer of kids entertainment, to make a series of stories in which real life situations are used to illustrate the principles of wise investment. So if you’re looking for that perfect gift for your grandchildren or some other young children that you know, this might just be the perfect thing. Along with his voice, are contributors which include Jay-Z and Shaquille O’Neal. The first DVD of the series is now available through Amazon.com, and it’s called the “Secret Millionaires Club.”  But I have a sneaking suspicion that, even though it’s geared for kids, people of all ages could benefit from the information.
In the first episode, a group of kids is trying to save a local youth center. They happen to find a valuable baseball card along the way, and they decide to sell it to put toward the center. They get advice from Mr. Buffett on how to use the money they get from the sale to its best advantage. Mr. Buffett is not trying to make them all millionaires, but he did like a catchy title. What he is trying to do is getting the kids to think about what are the good money habits that should be lifelong habits. He has some terrific advice. Among the nuggets are:
“The best investment you can make, is an investment in yourself.”
“Fail to plan, plan to fail.”
“It’s not just the outside that counts, it’s the whole package.”
“The more you learn, the more you’ll earn.”
“Learn from your mistakes, and the mistakes of others.”
Other episodes teach things such as saving for the unexpected event, never spend more that you have, and not borrowing more than you can realistically pay back. It’s good advice for everyone. Our recent bank crises and mortgage crises have shown that many adults need to heed his advice as well. Besides the “Secret Millionaires Club” series, Mr. Buffet sponsors a yearly contest called “Learn and Earn.” Kids are able to present their ideas for new businesses. They come to Omaha where Mr. Buffett is based and compete for the best new business venture. He is always delighted with these young investors and their creative ideas! (Source = http://finance.yahoo.com/news/money-101–q-a-with-warren-buffett-140409456.html. 4-10-2013)
Did You Know Andrew Hook was featured in a WAVY-TV News segment?  Click Here to Watch
ask kitkat logoDogs vs. Cats in Popularity
Hook Law Center:  Kit Kat, have you noticed that there are more references to dogs in printed material like books, but there are more references to cats on the internet?
Kit Kat: Well, I hadn’t really, but upon investigation, that does appear to be the case. This curious phenomenon has been written about by Daniel Engber on Slate.com. When he went to Yahoo and typed in the words “cat” and “cats,” he got an average of 1.8 billion hits with 10 tries. When he did the same with “dog” and “dogs,” he got 1/3 of the results. Then he tried Google. The spread wasn’t quite as pronounced, but it was still lopsided in favor of the felines–1.7 billion cats v. 775 million dogs, which equates to a 2-to-1 margin.
So what could be accounting for this phenomenon? He’s not really sure, and you can bet there will be no federally-funded studies to determine why. However, it may be due to modern man’s personality. In the past, we may have been more doers with jobs that required action. As machines are now performing many tasks which humans had to perform, man is becoming more of an observer. He’s becoming more like the cat. Engber says, “Cats like to stare at things and lurk: They’re built for surfing on the Web. We bond with them in little spurts, like videos on YouTube. Dogs, meanwhile, demand a lasting interaction.” However, he ends his article with saying that none of these role are cast in stone. In the final analysis, there will always be a place for both animals–just as there will be for both print and online materials. Who’s concerned about numbers anyway? They’re always changing, so what’s the big deal? Isn’t that what makes life interesting? ( Source = Daniel Engber, “Why are Dogs Popular in Books, and Cats on the Internet?” posted April 5, 2013 on Slate.com)

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  • Hook Law Center will be speaking on Reducing Medicare Liens at the Virginia Trial Lawyers Association meeting in Virginia Beach on May 21, 2013 at 3:00 p.m.
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