Updated from 10:36 a.m. EDT
A few years ago I was talking to a broker friend of mine about Warren Buffett. He said, "Ahh, he's just lucky. Look how stocks have grown since 1960. He happened to be a long-term buyer right when it was the best time ever to be a long-term buyer."
There's a lot of evidence that Buffett, the founder of
, was more than just lucky. He avoided high-flying internet stocks such as
before the dot-com bust. He would buy severe dips in the stocks like he did with his biggest successes --
-- over the past 40 years.
But we get the point: It's better to have demographics working on your side than working against you. You don't need to make $50 billion in your lifetime. Most people would be happy with, say, half of that.
Fortunately, there's a stock that has the demographic tidal wave behind it,
it has dipped about 40% from its recent highs.
At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.
James Altucher is president of
LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the
and the author of
Trade Like a Hedge Fund
Trade Like Warren Buffett
. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback;
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