Investment Advice From The Vietnam Veteran Who Turned A 2-Bedroom House Into A $4.7 Billion Fortune

Forbes

He learned the value of money from a young age. Born in 1945, the oldest of 11 children, Moreno grew up in Tucson, Arizona where his father owned the city’s Spanish-language newspaper. He was drafted into the Vietnam War and served there before attending the University of Arizona on the G.I. Bill. He began his career at a small marketing firm, which was acquired by newspaper giant Gannet, where Moreno worked for more than a decade.

When I got out of college, I went to work for an advertising company. They were public and they incentivized by giving me stock and some stock options, and I ended up always taking a portion of what I was earning and buying additional stock.: Probably my first real investment was when I came back from Vietnam and bought a two bedroom house for $20,000 on the G.I. Bill. I put down 5%, or $1,000. What happened was that one of my brothers and some friends offered to rent it from me.

With the market changing all the time, you’re always trying to have as much flexibility as you can. I've always tried to look at Warren Buffett and where he got his education: The books and people Buffett studied under.I happen to have two. After about 11 years of working at Gannett, I left and moved back to Arizona and partnered with a gentleman on a small billboard company that we ended up growing. The first year we did about $900,000 in revenue.

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