A College Friend That Is Beating Warren Buffett And Everyone Else

A guy that was in my fraternity, and took a job on Wall Street, found himself in the position of being able to invest $5,000 per month immediately after graduation. That’s a lot of money, but he is in New York, one of the few places in the world where that amount of money doesn’t actually do as much as it sounds. He calls me up to talk investing a few times per year, not because he wants my insight on anything, but because he knows I will nod my head and agree with him on what he is doing with his money: He is buying shares of credit card companies hand over fist. Visa, Mastercard, Discover, American Express, he picks one each month and then adds it to his brokerage account.

If I recall correctly, Visa is his largest position of the four, and Mastercard is his second largest, … Read the rest of this article!