![]() Herbie certainly saw his share of volatility and setbacks. How many investors can participate in markets calmly and without fear, even when the waters are turbulent?ĭr. And as the circumstances change, I change.” I don’t fear business, I don’t fear making decisions. But day-by-day fear I usually don’t have. “When I was in the Navy flying planes, you know, yeah I had fear then. For example: It was clearly his attitude, his habits, and his ability to control emotions that contributed most to his ultimate success - not luck. Putting good fortune aside, there are multiple lessons to be learned from Dr. The whole Herbert Wertheim story is amazing. In perhaps his greatest triumph, he made a $5 million investment in a penny stock at 33 cents - the company was run by a Florida neighbor who shared a boat dock with him - and nearly three decades later, that same position is worth $800 million. Herbie invested in Microsoft and Apple stock shortly after their IPOs, and still holds positions in both that are worth hundreds of millions. ![]() Of course, nobody becomes a billionaire without a share of incredibly good fortune. He rarely uses leverage, he doesn’t like high fees, and he mostly invests through plain vanilla Fidelity and Schwab accounts. Herbie,” as his friends call him, built his portfolio through old-fashioned, long-term investing techniques. Herbert Wertheim, a 79-year-old semi-retired optometrist and small-business owner, has a stock portfolio worth $2.3 billion (according to Forbes estimates). Forbes recently featured a profile on the greatest billionaire investor you’ve probably never heard of.ĭr.
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