Buffett currently ranks as the 8th wealthiest person in the world with $133 billion.

Buffett’s net worth would rank him much higher if he had not donated $51.5 billion to charitable causes, placing him at the top of Forbes’ 2023 list of America’s most generous philanthropists. Source: June 23, 2023 Forbes article by Chase Peterson-Withorn “The World’s Biggest Philanthropist Just Gave Away Another $4.6 Billion”. This article will cover some of his rules on money and life.

1. Beware of anyone who advises you on money who has a high lifestyle!

If the stock market drops or they have financial difficulties, they do not want to give up their high-status lifestyle. Some will cut corners or even cheat their clients. Many financial advisors impress their clients with their fancy offices, homes, and cars. In contrast, Buffett lives in the same Omaha Nebraska home that he bought for $31,500 in 1958. He drives himself to his office every morning and stops at McDonald’s for breakfast. Question: Do you value substance over style? Does your financial advisor drive a fancier car than you? Does your financial advisor have a higher net worth than you and if not, why are you taking advice from him?

2. Go Against conventional wisdom!

One of his famous sayings is “Be Greedy When Others are Fearful and Be Fearful When Others are Greedy”. Buffett will sit on hordes of cash until he can buy a great company at a fair price. Berkshire-Hathaway now holds $35.55 billion in cash and $153.44 billion in Treasurys, for a total cash hoard of $189.99 billion. With the large stock market increase of the last 16 months, the Buffett Index tells Warren that the stock market is over-valued. Buffett will wait patiently until he can get a good deal on a great company.

3. Invest in great companies that have a moat against competition!

Dairy Queen was purchased by Berkshire-Hathaway in 1998. If there’s a stock market crash, what happens when your grandkids visit you? If you use Door Dash food delivery, the price of gelato from a Scottsdale shop is $38 for the large 35 oz or $28 for the small 17 oz size. If you use Uber Eats to order from Baskin-Robbins, it’s $10.11 for the sundae. In contrast, you can take the grandkids every day to Dairy Queen and it’s only $4.39 for a banana split. In a recession, we can’t afford big items like a new car but we need to give ourselves a treat. Dairy Queen is by far the lowest price national chain that offers frozen treats.

Marubeni: By September, 2020, it had taken Berkshire-Hathaway 12 months to acquire a 5% interest in Marubeni, a giant Japanese company. This has been the #1 performing company out of 80 that Berkshire-Hathaway owns because the stock has tripled in the last 3 years. Marubeni has been trying to buy into a local AZ company that, according to the CA government, has invented the Only Zero-Emission technology that is commercially viable. The CA government has given this AZ company two multi-billion dollar markets. Come to the seminars below to discover why this AZ company has no competition.

Attend my Free Live Seminars: Tues. 6/25/2024 or Weds. 6/26/2024, starting at 6 pm at Hyatt Place, 3535 W. Chandler Blvd. Chandler, AZ 85226. The seminars are followed by a Free catered meal. Topic is “Secure Your Financial Future: Lessons from Warren Buffett!”

Free Tour/Workshop at Solar Reefer (Refrigeration) Factory: Saturday, 7/13/2024, 9am–12 noon.  Topic is “How Solar Reefers can Reduce Taxes to $0 and earn a steady 10-14%!” Lots of tasty refreshments served!

Location is at Advanced Energy Machines: 4245 E. Norcroft Street, Mesa, AZ 85215, ¼ mile SW of McDowell & Greenfield Roads.

To RSVP for the seminars or schedule a free consultation, please contact Dr. Harold Wong at (480) 706-0177 or This email address is being protected from spambots. You need JavaScript enabled to view it.. His website is www.drharoldwong.com.