Billionaire value investor Mario Gabelli recently detailed how much he values education and work while giving his best life advice on success in current markets.
- Mario J. Gabelli has been a professional investor for more than 55 years and has amassed a wealth of $1.7 billion.
- His longest-running product, Gabelli Asset Management Value, has returned 14.1% annually since inception in 1977, versus about 11.5% for the S&P 500 Index, according to Forbes.
- He explains his investment style and favorite investments, including those in auto parts, gaming, aerospace, and entertainment, and he also explains to others how to become successful.
Why it’s important
Mario Gabelli has been a professional investor for over 55 years and has seen the market go through extreme ups and downs while remaining on top and making money.
He recently explained his investment styles, favorite investments, and life lessons he has learned over many decades in the industry. He explains that with investing, you will make mistakes, sometimes big ones, but as long as you make more wins than losses, it is just part of the game, he explains to Forbes.
Gabelli explains how important it is to work hard to get where you want to be and surround yourself with people that can help you get there. He recalled working at a golf course when he was younger and soaking in the information he heard from the golfers from Wall Street and later used that information to push himself forward.
He explains that one of his best pieces of advice for new investors is to look at the long-term of companies when investing. He says it is easier to look at the short term when you put money into something to get a quick buck, but looking at the long term will help you bring in more cash.
“I have a grid that I use when I give college talks about how to become a billionaire. And that is to have one less coffee, and I’m not knocking Starbucks, I just use it as an example, and take the money for that and invest it,” he explains. “So one less per day, and you’re putting $35 in a week, and you grow it at 4, 6, 8, 10% over the next 40 years, where are you going to be?”