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Apr 17, 2009 at 12:00AM What better way is there to learn something than from a person who's already very good at it? And when it comes to investing, what better investor is there to learn from than Warren Buffett? But of course, you may be wondering: How did he get so good in the first place?
Of mentors and men Most people -- OK, most investing geeks -- know that Buffett was an ardent devotee of deep value investor Benjamin Graham, who taught him to look for dollar bills selling for 50 cents. Buffett's investing later evolved through his association with Charlie Munger, and now he prefers a great company at a good price over a good company at a great price. But before all of that, when he was still quite young, he learned the fundamental lessons of his investing life through a book titled A Thousand Ways to Make $1,000. Just look at that table again. The same $1,000 compounding for 60 years will add up to less than half of that amount if it compounds for 70 years.
If you start investing early, it can be hard to not end up rich. Buffett was a pre-teen when he read about compounding -- too bad for us that we often grasp its power when we're in our 30s or 40s or later. Given that you probably are in your 30s or 40s or later (most investors are), what good does all of this advice do?
If you're 10 or 20 or 30 years from retirement and just now starting to invest, you might not end up with millions. But that doesn't mean you shouldn't start now.
Even if you just invest in a broad-market index fund and earn the historical average of 10% per year, that rate of return will turn a nest egg of $100,000 into more than $670,000 in 20 years. If you add money every year, the figure will become much, much greater.
And sure, that 10% figure might seem, um, generous given, but remember that it's an average over many, many years, including those of the Great Depression. When it comes to investing -- and compounding -- you want to think in terms of decades, not years.
Great companies But how do you get those 10% returns? You can invest in a broad-market index fund, of course. For a chance at market-beating returns, however, you'll need to add some individual companies to your mix. Buffett looks for companies generating growing streams of money. You can screen for the same thing to get a list of companies worth further research. Here are some large-cap possibilities I got when I screened for returns on equity (ROE) of 20% or more, three-year revenue growth of 10% or more, and four- or five-star ratings in our CAPS community -- all indications that a company is worth a second glance.
Our Secret Universe The Hidden Life Of The Cell Download Phone. Company CAPS Stars (Out of 5) Return on Equity 3-Year Revenue Growth Transocean (NYSE:RIG) ***** 29% 64% PotashCorp (NYSE:POT) **** 66% 37% Mosaic (NYSE:MOS) **** 45% 31% BP (NYSE:BP) ***** 23% 15% Coca-Cola (NYSE:KO) **** 28% 11% Chevron (NYSE:CVX) **** 29% 11% Cisco Systems (NASDAQ:CSCO) **** 22% 15% Data: CAPS, Fool.com. Good prices You really don't need 1,000 ways to make $1,000. Time and the compounding it brings are plenty. They're the foundations of -- but it's also important to buy at good prices. That's what we look for.
Like Buffett, we're on the hunt for dollar bills selling for 50 cents -- and our current depressed market is offering these days. You can even take a free, 30-day guest pass and see all of our current and former recommendations. To get started -- there's no obligation to subscribe. Already subscribe to Inside Value? Log in at the top of. Longtime Fool contributor owns shares of Coca-Cola. Bela Bartok Romanian Folk Dances Pdf Download there.
Coca-Cola is a Motley Fool Inside Value selection. The Motley Fool is.