Scott Galloway has made a fortune owning shares of Apple and Amazon over the past 15 years.
The marketing professor worked with Warren Buffett on long-term, buy-and-hold investing.
Galloway echoed Buffett’s comments about choosing a career, savings, frugal living and Apple’s strengths.
Scott Galloway invested Apple And Amazon About 15 years ago, and since then he has made a fortune owning both tech stocks. His monster gains show the power of Warren Buffett-style investing, according to A The latest episode The “Pivot” podcast.
“I’ve invested in good companies and then not sold them,” said the New Stern marketing professor. “I’ve owned Amazon and Apple since 2009, and they’re, I think, 30x and 50x.”
“Finding great companies and holding them for the long term is still probably the best way to accumulate wealth,” he said.
Galloway’s comments suggest he bought Apple for less than $4 a share and Amazon for less than $5 a share in 2009 — a fraction of their current share prices of $189 and $138. The iPhone maker’s market capitalization of nearly $3 trillion and the e-commerce titan’s $1.4 trillion market value make them among the most valuable companies in the world today.
Buffett preached the gospel of long-term, buy-and-hold, and he employed it well at Berkshire Hathaway. For example, Buffett’s conglomerate I will not touch the share. by Coca-Cola and American Express since the mid-1990s. It cost about $1.3 billion to establish each workplace, and both are worth about $24 billion today — an 18-fold increase in value. Berkshire collects more than $1 billion in combined dividends annually from the two holdings.
The value investor and his group own Apple stock For the past seven years. They have their position. The price is three times higher During that time, it has reached more than $170 billion, making it the largest share in Berkshire’s nearly $350 billion stock portfolio.
Galloway channeled Buffett at other points during the podcast. The entrepreneur, author and creator of “Professor G Pod” attributes his success to pursuing a career, living below his means and accumulating capital to invest.
“The best thing you can do is be good at something,” Buffett said at Berkshire’s annual shareholder meeting last year when asked how people can protect themselves against inflation. The centenarian is also famous for it. Saving habits And a modest lifestyle, and to raise a lot of money and make it work in the financial markets.
Later, Galloway trumpeted Apple as a compelling long-term hold, saying it was “the ultimate self-explanatory utility brand.” In other words, the products are unique symbols of personal wealth and creativity, meaning people are willing to pay large sums of money to own them.
“Apple is one of those stocks you give to Rachel during her bat mitzvah or put into your 401(k),” he said. “Because it’s hard to see how Apple can’t grow in the long term.”
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