The Singhs are great admirers of Warren Buffett's approach to investment.
The father and son, both successful entrepreneurs, made the pilgrimage together to the US city in Omaha to relax in the weakness of Warren Buffett's billionaire, whose simple approach to investment – and there is his suspicion in Wall Street – is divided.
Paul Singh, aged 68, and his son Jay Phoenix Singh, 32, built successful businesses that they could then sell at premium prices, making both men millionaires.
Despite their age difference, the Singhs – one is Baby Boomer, the other is military, both of Fairfax, Virginia – share a long-term commitment to the words of Warren Buffett, 88, the owner of the third largest fortune in the world.
"Warren Buffett is the remarkable American dream of getting very little and able to make a name for yourself," said Jay Phoenix, standing before the relatively small home of the American billionaire, just a few minutes from the center of Omaha in Nebraska's heartfelt state. .
They were taken to Omaha by the annual meeting of shareholders of Berffield Hathaway Buffett holding company, which gives them, and others like them, the opportunity to absorb the wisdom of the "Oracle of Omaha."
The Singhs are great admirers of Buffett's taste at his discretion and his simple but insightful approach to investment.
"You're buying things that are only useful," Paul said. "Money doesn't mean you have to show and buy cars with a large (or) housing you don't need."
Paul follows that advice in his own life: it is just waving other rich external signs of wealth.
"I'm still driving my Honda … and I live with my parents," said Jay Phoenix, before adding, "but as Warren says, what is your long-term vision, your long-term plan." "
$ 50 In His Pocket
Paul Singh arrived in the United States at 20 to follow his graduate studies with "50 dollars" in his pocket.
From a poor family in northern India, he was admitted to Harvard, where he gained an MBA in 1982.
Leading the way of deregulation of telecommunications, he set up three successive companies, the latest – Primus Telecommunications – with a turnover of only $ 1 billion six years after its creation.
In the 2000s, this father of two – married to a British woman – created the Rezon8 fund, investing in American start-up companies specializing in software and information technology.
Although Paul had been a mentor to his son, he did not give him the capital for his own start: "I didn't want my father to give me money," said Jay Phoenix. "I have savings (a) … I could count on it."
With doctorates in psychiatry and psychology, Jay Phoenix has been one of the youngest lecturers in some of the most prestigious US and British universities (Princeton, Harvard, Oxford, Cambridge).
He established the Violence Research Center, dedicated to the study and prevention of interpersonal violence.
After selling it in 2017, TheModelMan.com created a matching site for businessmen with no time to play conventional dating games.
The neither one of the father or the son does not invest in stocks, favoring the ETFs (exchange trade funds) which are less speculative but still providing attractive profits.
"I tried to be literate (financially) in the last few years … about different types of securities, such as stocks and bonds etc – and Warren Buffett is this living legend," said Jay Phoenix.
Among the lessons the Singhs have learned from studying carefully Buffett's famous letters to investors: investing in the long term, and don't be afraid to make a mistake.
"Those lessons are good lessons … not being scared by things," said Paul Singh. "Sometimes the market goes down and at other times it is rising."
"It's very nice. You don't see or hear that on Wall Street."
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