A former shoeshine boy now worth hundreds of millions of dollars, Luiz Barsi has been called the 'Brazilian Warren Buffet' for his ultrasharp investing acumen. Barsi, who calls himself a 'mini-owner' of the companies he invests in, says stocks should guarantee a monthly payout.
At the age of 84, Luiz Barsi is one of the richest people in Brazil, thanks to his exceptional success in the stock market. Photo: Nelson ALMEIDA / AFPA former shoeshine boy now worth hundreds of millions of dollars, Luiz Barsi has been called the"Brazilian Warren Buffet" for his ultrasharp investing acumen.Above all, he says,"I didn't want to be poor again."
Instead, he still goes to work every day, both out of"addiction" and because"I can't let the wheel stop turning," the white-haired octogenarian tells AFP at his offices in central Sao Paulo. "Going back there was a constant reminder I desperately needed to improve my life," he wrote in his autobiography, published last year.and work as an office boy -- all while keeping up his studies, finally earning degrees in law plus economics and accounting.
Barsi's method is to buy large amounts of shares when prices are low, favoring"perennial" sectors, such as energy, banking and paper products.Barsi, who calls himself a"mini-owner" of the companies he invests in, says stocks should guarantee a monthly payout.Barsi's methods have largely withstood Brazil's various busts over the years.
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