By Richard Russell
Everybody dreams about what might have been or what they should have done and I am no exception. Back in 1947 I found that my uncle Irving (who committed suicide in 1929) had left me $30,000 in his will. That was a lot of money in those times. My father took me down to a brokerage office and after talking to the broker we decided to buy the “best of the Dow Jones Industrials” stocks, which included General Electric, Sears, Telephone and a few others. The dream -- I should have kept those stocks and simply reinvested the dividends.
Skip to 1965, I had read quite a bit about Warren Buffet and I wanted to be put on the list to receive his annual Report to Shareholders. Accordingly, I bought five shares of Berkshire Hathaway, and later sold them, but here’s what I should have done. I should have put ... Log in or subscribe to continue reading.