As a Boston Red Sox fan it pains me to see Warren Buffet advising A-Rod how to negotiate his contract with the New Your Yankees. Buffet is an interesting fellow. He has a long history of giving financial advice to celebrities. You wouldn’t necessarily connect the two; Warren Buffet with celebrities.
After all, Buffet is almost the prototypical millionaire next door; or in his case the billionaire next door. He is very conservative, drives his own American made car and still lives in the home he purchased over 40 years ago. He’s already informed his children and grandchildren not to expect any significant inheritance from him and he holds steadfast to the idea that if an investment isn’t backed by a hard asset then it isn’t worth investing in.
So why does Warren Buffet get involved with advising celebrities? After all he has advised A-Rod and Arnold Schwarzenegger. He (Buffet) is also a chief investor in a company called Net Jets which through it sales partner Marquis Jets, whisks celebrities and athletes all around the globe. On top of that, Mr. Buffet’s bridge partner is Bill Gates. So what gives?
Warren Buffet understands that celebrity status sells. In particular it sells newspapers and his company Berkshire Hathaway is a major investor in several of them. The “old grandpa” of the investment world is as shrewd as ever.
As for A-Rod, I’m glad he’s staying in New York. The Yankees are going to pony up $325 Million over 10 years for him. At a time when the Yankees are building a $1 Billion stadium they certainly need to secure attendance. If A-Rod does make a run at the all time home run record New York will become a circus and of course the YES network’s ratings will go through the roof. However, what truly draws fans to a team is winning and the Yankees have proven they can’t win with A-Rod. They are an “old team” and are getting older. Posada and Rivera are just a few years short of qualifying for AARP cards. By the time A-Rod’s contract expires he’ll be in his 40’s as well.
A few more years of the A-Rod jinx is just fine with all us Red Sox fans. A few more world series titles for us and maybe Warren Buffet will consider buying the Red Sox. In the long run, an investment in Red Sox Nation will net much larger returns than the fading New York Yankees. In 2006 the Red Sox had the highest away field attendance, surpassing the Yankees in that category as well.
For those of you who are Yankees fans, I can hear your thoughts right now… 26 World Championships, The Babe, Mickey Mantle, etc. However if you are a Yankees Fan you have to ask the question, “What have you done for me lately”? The answer is “NOTHING.” Even Warren Buffet can’t make enough deals to bring the Yankees back to their FORMER glory. For the next 5 to 10 years it’s Red Sox all the way.
From Welfare To Wealth.
That’s a transition John Alexandrov made and he’s sharing the secrets of how he did it everyday. His website was created to help you learn how to achieve financial and personal success just as he has. You can start learning today at themoneychi.com.
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