Meet the Man Who Made Buffett Jealous
He was recently referred to as a “different species” by Charlie Munger, vice chairman of Berkshire Hathaway.
Warren Buffett, one of the greatest investors of all time, lamented on how he missed out on investing with this entrepreneur and called himself “too dumb to realize what was going to happen.”
Buffett later went on to say that this entrepreneur is “the most remarkable business person of our age.”
That’s high praise coming from one of the richest men in the world.
In the summer of 1994, Jeff Bezos left his Wall Street job and moved across the country to Seattle in order to sell books on the World Wide Web.
Many thought he was crazy to leave a high-paying job to start a business selling books online.
However, Bezos saw the internet growing at 2,300% per year and quickly called it his “wake-up call.”
Online retail was the next big thing. Selling books over the Web was his opportunity to cash in, and he took full advantage of it.
By July 1995, Bezos raised a few million dollars from private investors and founded Amazon.com, which would go on to change retail forever.
A little more than 20 years ago, Amazon went public, and it is now worth more than $475 billion.
Joining Up With Great Partners
Amazon currently accounts for more than 43% of all U.S. online sales, and that amount is growing.
In just the past 10 years, Amazon’s market value has soared more than 20 times — while most major retailers have flatlined, closed stores, or gone belly-up.
Just a short time ago, Bezos started Amazon Web Services (AWS) — another business in a different industry.
AWS sells computing resources to business customers. In just the 10 short years since it was launched, it’s already become a giant. Sales in the past year are close to $4 billion.
Buffett said he’s “never seen a guy succeed in two businesses almost simultaneously” and couldn’t think of another example like Bezos.
Amazon recently made an all-cash offer to buy Whole Foods and will focus on transforming the grocery business.
While Bezos is now the second-richest person in the world, worth an estimated $70 billion, investors had the chance to ride his coattails to millions... and many did.
If you had invested just $10,000 in Amazon in 1997, your investment would now be worth close to $5 million.
Stay on top of the hottest investment ideas before they hit Wall Street. Sign up for the Wealth Daily newsletter below. You'll also get our free report, "Seven Techincal Analysis Tools for Investors."
Much of my time over the past year has been spent trying to find the next great entrepreneur.
I’d been looking for a great manager who has a track record of success in an industry ripe for change and the vision to make it happen.
I’m giving a free webinar where I will be sharing the name of the “next Bezos” and the ticker of the company this entrepreneur founded. In less than six years, they have grown to become the dominant player in their industry.
The best thing about it is they haven’t become a household name just yet.
That’s why you don’t want to miss my exclusive webinar.
It’s called: The ONE Stock to Own for the Next Decade.
Spaces for this event are limited, and I expect it to fill up quickly.
So don’t wait — click here to guarantee yourself a spot.
All my best,
Charles cut his chops on the trading floor of the New York Futures Exchange before moving on to become a wildly successful money manager on Wall Street.
And with more than 35 years of recommending stocks under his belt, Charles has knocked the cover off the ball, compiling an amazing record of success and posting gain after gain for his loyal readers. He is the editor of Park Avenue Investment Club and the Insider Alert newsletters.
Charles is also the author of the highly acclaimed book, Getting Started in Value Investing.
The Best Free Investment You'll Ever Make
After getting your report, you’ll begin receiving the Wealth Daily e-Letter, delivered to your inbox daily.