How To Become A Billionaire

Forbes recently released its list of the world's billionaires, and, no surprise, a significant number of the folks on the list made their fortunes by investing. That subset includes Warren Buffett (worth $52 billion), Carl Icahn (worth $14.5 billion), and Jim Simons (worth $5.5 billion).

So, here's Important Lesson No. 1: You can make a lot of money if you learn to manage your portfolio like a pro.

Easier said than done ...
Of course, that collection of billionaire investors volunteers no clues about the strategy that's most likely to make you a billionaire. Buffett is a dyed-in-the-wool value investor. Using that strategy has helped him achieve annual returns greater than 20% at Berkshire Hathaway for more than 40 years on investments in boring companies such as GEICO and Washington Post. It continues in his portfolio today with USG (NYSE: USG), American Standard (NYSE: ASD), and M&T Bank (NYSE: MTB) and other current holdings.

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