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Financially Free Podcast
Ney Torres
37 episodes
4 days ago
Ney Torres became Financially Free at 25. Here he interviews his mentors and people on the top of their game. To find what they do, how they do it and why they do it. HOW IT WILL BENEFIT YOU? Give you the road map to understand money and wealth strategies so you can figure what works for you or how to implement those nuggets of wisdom to your business and personal finances and live.
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Entrepreneurship
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Ney Torres became Financially Free at 25. Here he interviews his mentors and people on the top of their game. To find what they do, how they do it and why they do it. HOW IT WILL BENEFIT YOU? Give you the road map to understand money and wealth strategies so you can figure what works for you or how to implement those nuggets of wisdom to your business and personal finances and live.
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Entrepreneurship
Business
Episodes (20/37)
Financially Free Podcast
36) Hustling to 5000% return on investment with Mariusz Skonieczny

In this episode we talk about the hustle and years of hard work that Mariusz had to go though as he is facing an amazing return on investment in his stocks now.

Mariusz is up 5000% and I think this investment will eventually get him to 400X (40000%). In an industry where 10% a year is outstanding result. 

This is a story you cant miss

 

 

36) Hustling to 5000% return on investment with Mariusz Skonieczny

Transcription by Arianne Elnar

 

Ney Torres: [00:00:00] Now, let me tell you my side of the story very quickly. Before we start talking about your story. I think… I don't remember if I texted you or Adam from Oroco and Im like “by the way, if you ever do another placement (raising money), please do let me know” and then it was like “we're in the middle of one right now”, and I'm in the middle of Netherlands. And now, I have to take a plane to Ecuador, raise the money and that takes me like two weeks. The moment I want to send the money, my bank account in the United States says you have to be present because of the amount and we're blocking the account until the come and that moment I had to take an airplane and figure out how to get a covid-test again… So in three weeks I was in three continents.

Mariusz Skonieczny: [00:00:54] It's funny. Hey, I guess it was worth it

Ney Torres: [00:00:57] it was worth it. And let's talk about what happened. There was a private placement in Oroco (OCO). That's a company we'd covered… I think in April in this podcast and please tell me the story because now the title of that episode is how you made a hundred bagger or 10000% and now that's turning into 40000%.

Mariusz Skonieczny: [00:01:22] Well, look, it's approaching 400X from the point where I started investing and that's because of Oroco and well, not because of Oroco but I started literally January 1st, 2009. So, that was like the best time to start. So, I had very good, very, very good three years, 2009 was fantastic. 2010 was good. 2011 was good and then from 2012 to 2017, it was just absolutely horrible. I mean, I couldn't get anything right these five years and that's because a lot of my investments were in mining gold, and silver. And as I said before, many times, I mean, these guys are professional fuck-ups. I mean, I have never seen people so incompetent and just playing stupid as they are in this industry. But because of this industry, that's how I found Oroco because if it wasn't for their stupidity, I would have never found Oroco and then when I found Oroco in 2017 that just gave me new life, a new lease on life. And since then, I mean, Oroco is up like, okay, I bought it. I think I put like 60 grands into it at 4 cents. So, I bought like 1,445,000 shares. So, yesterday or two days ago, the stock hit like $2. So, you do the math. That position alone went from like 60 grands to $3 million. So, that's really where you're 300X comes from because I started with $10,000 in 2009. And here this position alone is like $3 million and that doesn't count my other positions. So, really the math is simple. It's nothing really complicated just a huge win and that can happen in investing. I mean, one or two big wins can make your life, make your career. And that's really what happened with Oroco for me.

Ney Torres: [00:03:39] It's amazing. First of all… there's still a lot of appreciation to come yet. Before you tell me the story, what are you going to do next? Are you going to just keep going into stocks? Are you going to retire? What are you going to do?

Mariusz Skonieczny: [00:03:59] No. I mean, I enjoy investing. I'm going to just keep doing this but it's still I'm not exiting the position yet. And actually, since I bought the position, you can trade in and out of it a little bit and maybe I took a little bit of money off after I replaced some of the position with the private placement. So, now I have a situation where I have some shares that are restricted in private placements on some shares are in my account which are liquid. Obviously, the restricted shares or warrants that I have through private placements, they're restricted. So, it's kind of like locks you in for at least four to 12 months. If you're in the US it locks you in for more like 12 months, if you're outside of US, it locks you in for only four, but I am in no hurry to sell them and the liquid position that I have, I keep it because some of my warrants what if let's say they get accelerated. I need to have the ability to stay liquid on that position so that I can exercise my warrants without necessarily touching my outer positions.

Ney Torres: [00:05:26] So, one of the things that most people don't understand is that when one of your positions start going so high is that you constantly wonder “should I liquidate it? Shall I make my position size smaller? Because basically there are other positions just disappear. Not even there, you become Oroco (OCO) or the stock that you are holding. What are your thoughts about that? Because some people say, "Well, it's more than half of my portfolio is too much or do you ride with what? How do you see it?

Mariusz Skonieczny: [00:06:03] Well, first of all, when you have a position that goes up 50X and you don't really sell, it becomes a huge position just on its own. And to begin with it was already a big position when I bought it but I think that's really very much a personal choice depending on who you talk to. If you ask Warren Buffett, he'll say, "Diversification is good for those who don't know what they're doing” or you will have some things like “you get rid or you concentrate to get rich and you diversify to stay rich” and then you have other opinions such as maybe the generalists in the financial industry: “oh yes You have to have 20-30 positions”. Okay. That is an opinion, and each person is different but if we look at people very successful. They're very wealthy people that come to mind. Well, like let's say bill Gates or Warren Buffett or even Elon Musk. How did they come to that wealth? Well, pretty much they were invested in one company. Elon Musk, one company, Tesla and then you can have people saying, "Whoa, but that's stupid. That's irresponsible." Okay. That's your opinion. But the bottom line is that he became a billionaire or whatever being in one position like this and now everybody is talking about it and on TV, nobody says, "Oh, he's too concentrated." But if you are as an investor-investor in Tesla and I'm not saying that's like good investment. It's just an example. If you are invested in Tesla and you let's say you're 90% of your net worth in it, you're irresponsible and stupid but Elon Musk is not responsible and stupid. He's a visionary.

Ney Torres: [00:07:55] You came from real estate too. You used to do a lot of real estate before doing the stocks.

Mariusz Skonieczny: [00:08:06] Well, when I graduated college which was 2003, I entered the real estate industry because I wanted to learn the real estate and I wanted to learn how to value real estate. And that's how I entered it. And then after I've been at it for a few years, I was investing on my own and I realized that I really didn't have the passion or that much interest for real estate. And actually, when the financial crisis started hitting, I wanted to enter the financial industry and I actually applied for a job with Morningstar because they were in Chicago and it's kind of funny because at that time, so many people were losing jobs. That there was so much competition and I didn't have the background in the financial industry. My background was real estate, so they rejected me. And it's kind of funny because at that point I said to the person who was in charge of hiring, I said, "What can I do. To improve my chances in the future?" And I remember she said, "I suggest you read a lot of books on value investing." It's kind of funny because by that point I already probably read 300 books, but instead of reading more, I decided to write 10 of my own since then.

Ney Torres: [00:09:32] Oh, that's why! Very good. Do you think that helps writing books?

Mariusz Skonieczny: [00:09:39] Help to what? Writing book?

Ney Torres: [00:09:40] There's a lot of effort in writing a book.

Mariusz Skonieczny: [00:09:44] I liked the book business, you see outside of investing when people don't know about me is that when I left the real estate in 2009, I had $10,000 to my name and I didn't have a job. I left; I didn't have a job. Actually, my girlfriend had a job and she was paying the bills. But during the time that my investment was growing, I wasn't touching any of that money. So, I had to come up with different ways to make money by doing small projects. So, for example, I wrote one book and then it was like, "Oh cool. It's selling copies. And I don't really have to do a lot. And it's generating some revenue for me, it's not a lot. It might have generated maybe 400 a month, but 400 a month. That's a lot of money. If you don't have to do anything for it because once the book is on Amazon and it gets recommended, it’s kind of gets its own track record and you kind of generate sales. But the first book was why are we so clueless about the stock market. It was just a general book about investing. So, a book like this has a lot of competition because anybody that comes in, what are you going to pick up? Well, whatever Warren Buffett whatever was written about Warren Buffett or what are the classics? I forgot the names of the classics. Do you remember some?

Ney Torres: [00:11:20] Ben Graham.

Mariusz Skonieczny: [00:11:21] Exactly. So, these are the books that you turn to first. So, that particular book, I mean, I've come on $400, $300 a month, it's great. And of course, I could have put more effort into marketing it but is it really worth it? If I have to work all the time to market it just to increase it a little bit. No, why not write another book? So, then the second book really opened my eyes because the second book was the basics of understanding financial statements. So, we weren’t really like just investing but it was how can you learn about financial statements as an investor? Because I remember in college, when I was taking an accounting class, accounting class wasn't really hard for me because I enjoy numbers. I enjoy math, so it comes easy to me. But then when I looked around, people had a really difficult time understanding accounting. So, I figured, well, there's really nothing really good out there that breaks it down to a level that people can understand. Yes, there's accounting books that are a thousand pages long, but who wants to read that. So, I wrote that book and it just absolutely blew me away. I mean, it outsold the other book by multiples and that really kind of taught me a lesson. Like, wow, if you write a niche that's not a lot of competition then you can make some decent money with very little effort so then I thought, "Okay. Well, let's keep writing more and more." Because I had a lot to say and then I learned, okay, just because another book is niche doesn't mean it's going to be successful so that was a lesson. It was maybe too niche and it only sells like two books a month, so it wasn't really worth the effort. And then I ended up writing a book on, for example, I'm sure you've seen it on Gold Production because I was involved in that from this year. So, I lost a lot of money, but I learned a lot. So, that was another success because here is a similar situation as the basic financial statements is people invest in these junior mining companies. They don't have a clue the difference between open pit, underground, oxide, sulfide. Hey, if I write that explain it in a way people will appreciate that. And that book became the second-best seller. So, it's just like writing those 10 books actually taught me a lot about because those are like little separate businesses on their own and when you go through these kinds of projects on your own and then it actually kind of helps you when you analyze investments. It’s kind of gives you a sense of what especially with new companies when they come up with new projects or new products, it kind of gives you a sense whether something can be successful or not. Another project that I don't know if you know that I am in ballroom dancing, competitive ballroom dancer. So, in competitive ballroom dancing, you have to have a costume makeup and all that stuff.

Ney Torres: [00:14:51] How did you end up doing that? What's the story behind that?

Mar

Show more...
4 years ago
45 minutes 19 seconds

Financially Free Podcast
35) What trading is really like with Rui
A beginner trader on her journey of self-discovery, spiritual awakening, and she might just pick up "financial freedom" along the way
 
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4 years ago
22 minutes 25 seconds

Financially Free Podcast
34) What would a young Buffett do? Svenda´s Manual with David Flood and Jan Svenda

David Flood from elementaryvalue.com and Jan Svenda https://jansvenda.com/ took the time to check 7000 of small, obscure stocks. That´s exactly what I think a young Warren Buffett would do, if he had to start again from 0.

Lucky for you, they tell us what they found in this search of years, just wait to hear this story. 

In the interview, Adam Smith asked Warren about the advice that he would give to a younger Warren Buffett if he entered the markets today. This is what Warren replied:

Adam Smith: If a younger Warren Buffett were coming into the investment field today, what areas would you tell him to point himself in?

Warren Buffett: Well, if he were doing – if he were coming in and working with small sums of capital I’d tell him to do exactly what I did 40-odd years ago, which is to learn about every company in the United States that has publicly traded securities and that bank of knowledge will do him or her terrific good over time.

Smith: But there’s 27,000 public companies.

Buffett: Well, start with the A’s.

Show more...
5 years ago
44 minutes 29 seconds

Financially Free Podcast
33) Investing in gold, silver and bitcoin with Mike Maloney

The most sold author on investing in gold and silver Mike Maloney, and I have a conversation on why I think Warren Buffett is probably wrong about Bitcoin.

 

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5 years ago
25 minutes 9 seconds

Financially Free Podcast
Chuck Norris wishes Ney Torres a happy 37th birthday !

Ney Torres is turning 37, here is Chuck Norris wishing him a happy birthday

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5 years ago
3 minutes 48 seconds

Financially Free Podcast
32) Managing Other People’s Money with Evan Bleker

Quick interview with Evan about how your investment style changes as you invest other people´s money.

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5 years ago
20 minutes 38 seconds

Financially Free Podcast
31) 50% a year guarantee Buffett challenge with Ney Torres

After years of studding Buffett I figure how to generate 50% a year... Is not what you think.

“If I was running $1 million today, or $10 million for that matter, I’d be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”

-- Warren Buffett

Show more...
5 years ago
51 minutes 50 seconds

Financially Free Podcast
30) Leverage and going global with Brad Sugars

How to go global?

Brad Sugars started the ActionCOACH brand in 1993 in Brisbane, Australia. Today the company is ranked as the leading business coaching franchise by Entrepreneur magazine. ActionCOACH operates in over 80 countries and has more than 1,000 coaches around the world, coaching 15,000 business every week. The franchise has received numerous awards including Fastest Growing Franchise, Franchisee Satisfaction, Best Overall Company and has been named the number one business coaching franchise in the world every year since 2004. Using the coaching strategies that have helped thousands of companies around the world, Brad Sugars and his executive team helped lead ActionCOACH and its coaches to some of its most profitable and best years ever... in the face of challenging economic conditions. Brad Sugars and his team continue to build “business re-education” to new, more innovative and exciting levels.

Show more...
5 years ago
30 minutes 1 second

Financially Free Podcast
29) Brad Sugars on Financial freedom, buying businesses without your own money

What could you do if you are starting from $0, with the right education?

Brad Sugars started the ActionCOACH brand in 1993 in Brisbane, Australia. Today the company is ranked as the leading business coaching franchise by Entrepreneur magazine. ActionCOACH operates in over 80 countries and has more than 1,000 coaches around the world, coaching 15,000 business every week. The franchise has received numerous awards including Fastest Growing Franchise, Franchisee Satisfaction, Best Overall Company and has been named the number one business coaching franchise in the world every year since 2004. Using the coaching strategies that have helped thousands of companies around the world, Brad Sugars and his executive team helped lead ActionCOACH and its coaches to some of its most profitable and best years ever... in the face of challenging economic conditions. Brad Sugars and his team continue to build “business re-education” to new, more innovative and exciting levels.

Show more...
5 years ago
25 minutes 23 seconds

Financially Free Podcast
28) How culture can raise performance 300% or more with John King

Today, I have the honor to talk to Mr. John King. You may know John because he wrote a very important book called "Tribal Leadership", maybe one of the top 20 books in leadership.  And as business is about relationships. If you're going to understand business, you have to master relationships. Welcome to the show, John...

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5 years ago
30 minutes 16 seconds

Financially Free Podcast
27) Why invest in tankers now with Mariusz Skonieczny

Why invest in tankers now could be a good idea? with Mariusz Skonieczny

Historically Tankers have been a terrible business... but something may be changing, and fast.

stng - Scorpio Tankers Inc

tnk - Teekay Tankers Ltd

eurn - Euronav NV

lpg - Dorian LPG Ltd

dht - DHT Holdings Inc

Show more...
5 years ago
8 minutes 39 seconds

Financially Free Podcast
26) Mariusz Skonieczny on his way to a 10000% return

Mariusz Skonieczny found a remarkably interesting stock $OCO, Oroco when it was trading at a couple of cents per share, today that stock trades a $0.43, and he thinks there is plenty more to come. Have you ever wondered how a 100 bagger looks like? yes, that is 100 times your investment. Well... here is the story.

Show more...
5 years ago
16 minutes 24 seconds

Financially Free Podcast
25) If you cant buy one property, buy two with Veerle Van den Berg

The story of how Veerle van den Berg (MD) at 28 is starting on her path to financial freedom through real estate

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5 years ago
15 minutes 33 seconds

Financially Free Podcast
24) 51.4% per year for 7 years with Dan Schum

Dan Schum is 39 year old engineer living California with his wife and 3 kids. Schum started investing in 2013 with a lot of book reading. He focus on tiny companies with most having a market cap less than $5M, has invested his entire retirement plus some after tax savings in these stocks.

Started a blog nonamestocks.com in 2015 where he writes about stocks he owns. Some of the stocks Schum owns are dark so he has also written posts about dark stock related issues like SEC rules, otcmarkets categories, and brokerages that will allow this type of trading.

Stocks referred in this episode:
InfuSystems Holdings Inc - INFU
Greystone Logistics Inc - GLGI
TEL-INSTRUMENT ELECTRONICS -TIKK
IEH Corp - IEHC
Technical Communications Corporation - TCCO
Dynatronics Corp - DYNT
Hydromer Inc - HYDI

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5 years ago
38 minutes 26 seconds

Financially Free Podcast
23) Building a boutique hotel in costal Ecuador with Robert Ross

Robert Ross started in California as a consultant,  went through an IPO, went to Montañita Ecuador and the "ME Hotel & Villas - Montanita Estates" to live an amazing life style. 

In this episode we talked about the story as well as the difficulties he had to face to do it. 

Check it out! 

https://www.montanitaestates.com/

 

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5 years ago
36 minutes 44 seconds

Financially Free Podcast
22) Starting An Ecommerce Business with Roger Bryan

Today Im talking with Roger Bryan about how to start an Ecommerce Business now a days

"We had 300,000 individual items on our shelves and we had over a million books sitting, waiting to be sorted. We were selling approximately 3 million books a year. Throughout the world, both online, individual, and then in bulk to a lot of the African countries."

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5 years ago
18 minutes 32 seconds

Financially Free Podcast
21) Mary Buffett: Value investing and stories about Warren Buffett.

Today I'm interviewing Mary Buffett on value investing and also stories about Warren Buffett which you probably have never heard before!
I certainly enjoyed interviewing Mary. On a personal note, I was not expecting that she would be so cool. I learned, once again, a great lesson: "There's no better investment than being a great human being; it costs nothing, and it pays off great dividends." Thank you, Mary.

 

 

Mary Buffett

Ney Torres: [00:00:00] Hello everybody welcome to the show. Today I have the  honor of interviewing Mary buffet. How are you Mary?

Mary Buffett: [00:00:06] I'm great. Thank you.

Ney Torres: [00:00:08] Hey, before we start I really wanted to thank you for your time. is really , a big honor. I started studying, investing with your books, and I really appreciate it and it comes to full circle now.

Now I'm talking to you and thank you so much for this opportunity.

Mary Buffett: [00:00:21] My pleasure Ney. Honestly. Thank you.

Ney Torres: [00:00:24] Can we start, for the listeners that maybe haven't read the books, who is Mary buffet?

Mary Buffett: [00:00:29] Well, I was, a singer, song writer in the music industry since I was 14 years old. And actually I was living at the time in Laguna beach and I was making, I had a business, I was making skateboards at the time with Tony Alva, who was the world champion skateboarder. And, I met Susie Buffett, Warren, Peter sister. So Warren has three children, Howard, Susie, and Peter and Susie lived. Down there. And we became really great friends.

And she said to me, Oh, you've got to meet my brother. He's a musician, and you got to talk to him and help him. And I thought, Oh! That's the last thing I want to do is meet another musician. I had gotten out of the business, you know? But as it turns out, we met and immediately fell in love and we met and married in almost three months.

It was just, yeah, it was really like that. He was living in San Francisco. He had just rented a house that was too big for him, and I was working with the company that was based in San Francisco and I was going up there and he said, you know, stay at my house. And I did. And I saw his studio and we talked all about his business.

And I said, you know what I'll I'll be your manager. I actually, you need help. So, I moved up to San Francisco and actually Susie buffet, his mom who had an apartment near us, I stayed at her place. And, And then shortly after Peter asked me to marry him and I said yes, and that was that.

Ney Torres: [00:02:06] I can not believe that.

Well, I've never heard his story before.

Mary Buffett: [00:02:09] Yeah. And I really, at the time, I had grown up in California, well, I was born in Chicago, but I really grew up in California and I went to Beverly Hills high school. Cool. So at that time, the only thing I knew about his father was that he owned see's candy and bluechip stamps.

I think maybe he hadn't owned blue-chip. I think Charlie (Munger)  did. But, you know, and I thought "Great! Free candy", you know, little did I know there was no free candy with Warren, but, I had grown up around plenty of people whose parents were wealthy, but you know, I didn't see him as a millionaire... It was... he didn't live like a millionaire.

It was never really discussed.

Ney Torres: [00:02:50] You know, and I will love to take this opportunity for this interview to just address that, because I find that incredibly fascinating. You would believe that being around Warren, you start absorving all of this... just how to analyze businesses, pick up stocks, but turns out like Peter was not interested in that.

It looks like none of his sons and daughter. It turned out they didn't like it. I mean, maybe they didn't even know what he was doing. Right?

Mary Buffett: [00:03:17] Well, you know, it's, I think. No Peter loved music, and that's what his mother, Susie really, you know, stood behind him. Howie  (Howard Buffett) , you know, later wanted to learn more about the business, to be honest with you.

I think Susie ,little Susie, was probably the most qualified, but. At the time, you know, women really weren't thought of in the same way as taking over, but it's a pretty big shadow to walk in, you know? To be honest with you, it would be very difficult to be, you know, Warren's child and get into the same business that he was.

Ney Torres: [00:03:57] Yes. Yes, I agree. I agree. He's considered the best investor in  history. Actually.

Mary Buffett: [00:04:03] Better. Yeah. 55 years of amazing returns. Nobody's done that.

Ney Torres: [00:04:08] Could you told us a couple stories? For example, I bet, you have personal stories about the Nebraska furniture Mart. He went and bought this huge furniture Mart.

How did it looked like? What happened then? How do you guys find out?

Mary Buffett: [00:04:23] I remember. That when we... cause we went to Omaha several times a year for vacations and stayed at his house and so on. And the Nebraska furniture Mart was a very successful, very large furniture store run by Rose Blumkin, who was a Russian Jewish, Russian immigrant, who didn't read or write.

But she certainly knew how to sell carpet and, what she would do, would she go to the suppliers and she would say, you know, I'm going to buy all of your inventory, but you got to give me a really great price. And then it would allow her to turn around and offer, you know, rugs and furniture and everything.

At a really decent prices, and we just remember that people would drive from other, you know, from Iowa, from different States. You know, they drive to Omaha just to shop at the Nebraska furniture Mart , and it was run by her family, her sons. Still is run by the family. And, I think he, it was his birthday and, he went to the Mart and met with Mrs Blumkin and said, I want to buy, I want to buy the store. And she said, I think it was something like 65 million and not a penny less. And he's like, "Yes!". And shook hands on it. Never looked at the books, understood the business was, you know, really had a, had a lock on everything and went back and got her check and made sure that the family was gonna still run it because he doesn't want to change management.

Ney Torres: [00:05:59] So that was, that's how you lived it? Well, cause that's what we know now. But, back then? Did you just know he wrote a check for $65 million and walked into the store?

Mary Buffett: [00:06:09] No! No. We, we never heard about the price. Later, of course I found out, we just, you know, knew that he bought it and we were like, "Oh", you know, a "great", haha  it's just like one time he called me and, we were in San Francisco doing our music and he's, he called me and he was like, "Well  Mary so, well, nobody is getting in my business, so I thought I'd get in yours hahaha. I bought ABC" and I was like, "Oh, great, I'll, I'll, I'll tell Peter" and I got off the phone. I said, "Peter, dad, your dad called and he bought ABC. I wonder what that is?". And Peter and I were like, A... b... c... And then we just looked at each other, realize "Does he mean the network?", you know? And, that was really when people, of course he was, he bought it with cap cities, Tom Murphy. and, that was really the first time people started to know who Warren was. Because that was a pretty big, obvious purchase. You know, there were only three networks still at that time.

That was before cable really took off.

Ney Torres: [00:07:18] So it's kind of a monopoly kind of economics. But how did you and Peter feel when you find out? "Oh! He bough the network".

Mary Buffett: [00:07:27] We where surprised. I mean, for us. I, you know, my first reaction was great. You know, we write music. ABC has a lot of shows that we can write the music introduction to, but that of course never would happen with Warren.

You never got, you never got a break. I mean, I went to New York. And Tom Murphy had organized for me to have a, you know, a whole, I went to ABC and met Diane Sawyer, and I went and met everybody. But, and I, I talked to the producers and gave them Peters in my music. And, but it never would have happened because Warren didn't believe in.

you know, in, in That he didn't believe in helping.

Ney Torres: [00:08:13] Yeah, yeah, yeah. I understand that.

Mary Buffett: [00:08:15] It was very difficult actually because people who knew him and then also always assumed we were so rich and didn't need the money. But. In fact, you know, we were running a business and, so it made it more difficult.

The, the, you know, people's opinion was different than the reality.

Ney Torres: [00:08:34] And I bet if anything that made it made it harder. Cause you know, if you start doing something successfully, you're, you're the daughter in law, the owner or one of the owners.

Mary Buffett: [00:08:42] Yeah. Yeah. Well. We never worked for any of his companies. We never got free candy.

Ney Torres: [00:08:50] It's funny, the other day you were telling me that you went to Nebraska furniture Mart and you didn't get a discount. If it wasn't for Mrs B?.

Mary Buffett: [00:08:58] That's right. Yeah. Mrs B would give us a discount and, see's candy, we would buy every year for the people we worked for. And, at the time, Chuck Huggins was the president, and Chuck would give us a discount, but everybody would say, you know, don't tell Warren that we're giving you a discount.

Ney Torres: [00:09:17] One of my question is as Warren, as a father in law, He looks to be really radical. I remember seeing this documentary once where he mentioned that he got , that "innerscore card" , from his dad, right?

Mary Buffett: [00:09:30] Right.  He did have great respect for his father and his father was a Republican. And, it wasn't until grandpa died. That Warren changed to being a Democrat because Susie had a lot of influence on Warren, and she was, you know, working for equality for blacks and she was involved in all kinds of things that were very, you know, very, progressive.

Ney Torres: [00:09:57] And that opens the door to my questions about Sussie. I'm really interested in to know the woman behind Buffet. Becuase I don't think we know much about her.

Mary Buffett: [00:10:08] Warren admits to the fact that if it wasn't for Susie, he could never have been who he is.

She was his absolute, partner in life and she, you know, basically raised the kids and did her job, and left him to do his. Because, he really worked all the time. So it was, it was amazing. And Susie was one of the most generous kind people that you would ever want to meet. she always was helping people.

she was an amazing, funny person, a total free spirit. very, very kind of opposite of Warren, but very, you know, she had a lot of friends and. Yeah, she, she was, she was very different than when she left Omaha, as everyone knows now . She was a singer, and she sang at a place called the French cafe in Omaha.

And the, person who was the, not a waitress, but she, you know, sat you down. It was Astrid and Astrid and Susie became friends. And Astrid, I believe, had taken care of a few other older men, making sure they were okay. And when Susie left, she asked Astrid to move in and take care of Warren. And that's what happened.

Really remarkable.

Ney Torres: [00:11:44] Really remarkable. And he worked for them.

Mary Buffett: [00:11:46] It did. A lot of people didn't understand it. And we would always have, you know, a few weeks at Christmas and new year's in Laguna beach together. And Susie  would go to Omaha and stay with her best friend Bella Eisenberg and, go out to lunch with Astrid , and Susie and Warren talked absolutely every day.

There is nothing that she didn't know about.

Ney Torres: [00:12:08] I don't know if I read this in the biography of Warren , or maybe somewhere else. I'm not sure how true it is, it's just my memory. But I could swear that U2 Singer Bono spend a lot of time with her and said she was the "highest emotional intelligent person" he had ever met or something between those lines.

Mary Buffett: [00:12:26] Yes, I would agree that that's a very good, a good way of putting it emotionally. She was  just an amazing person. . .

Ney Torres: [00:12:35] We have some questions from the listeners.  Now... can I start asking you?

Mary Buffett:&n

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Ney Torres became Financially Free at 25. Here he interviews his mentors and people on the top of their game. To find what they do, how they do it and why they do it. HOW IT WILL BENEFIT YOU? Give you the road map to understand money and wealth strategies so you can figure what works for you or how to implement those nuggets of wisdom to your business and personal finances and live.