Can You Be The Next Warren Buffett?

Warren BuffettThe Annual General Meeting for Berkshire Hathaway (NYSE: BRK.A / BRK.B), the main holding company for billionaire investor, Warren Buffett, was held the previous weekend in Omaha.

Bill Gates and Warren Buffett

In one of their joint interviews, Buffett once made a comment that most people do not feel they have the ability to do what Bill Gates has achieved in business, to build a huge software company that touches everyone’s life, but feel that they can somehow do what he was doing successfully, picking stocks.

However, if one looks at the world top richest persons, nine of them gotten their wealth through creating businesses or building on their family businesses. Only one, Warren Buffett, got his wealth through pure investing. It really begs the questions, which is the harder, to create a world class business or to buy your way into world class businesses?

The Local Buffett

Who can be considered the “Warren Buffett” of Singapore? There are several contenders. Mr. Peter Lim, aka the “Remisier King”, has famously made his wealth by investing in Wilmar International (SGX: F34) during its early growth period. He is currently involved in transforming Rowsley (SGX: A50) into a real estate developer. Or perhaps Mr. Ron Sim, the flamboyant founder of OSIM International (SGX: O23), who has used the wealth created from OSIM to diversified into many other businesses. He is currently one of the anchor investors for the RTO of St. James Holdings (SGX: 5NH) which includes a deal with Perennial China Retail Trust (SGX: N9LU).

Foolish Takeaway

It might seem difficult to aim to be the next Warren Buffett. However, the saying goes, you’ll never know what you can accomplish until you try. I believe we should aim for the sky, because if we fall, we can still land on the clouds.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Stanley Lim owns Wilmar International.