Two of the most influential investors of our time actually share the same last name…Buffett. Warren and Jimmy are not related (as far as I know) and their fans are probably very different from each other. Yet they have both been wildly successful American entrepreneurial stories. And, thanks to the success of the Margaritaville brand and a long-running series of packed stadium concerts, Jimmy Buffett has garnered financial success that puts him in the stratosphere of wealth as well. From what I can gather from online sources, Warren’s net worth is over $80 Billion, while Jimmy’s is “only” about $550 Million.

Here is more on the “tale of the tape” between the two, just for fun:

I am a big fan of both men, and I think their accomplishments each include a combination of the art and science of success. For Warren Buffett, it was decades of toiling with balance sheets, income statements, inspecting business culture and growth prospects. For Jimmy it was hitting the road to spread his unique message through music, and as time went on, finding many other ways to cash in on that.

Both are extremely loyal to their business teammates. Warren and his relatively silent partner Charlie Munger have known each other since 1959, and reportedly have never had a fight. Jimmy Buffett’s keyboardist (Michael Utley) has been with him since 1975, a year after Jimmy started the “Coral Reefer Band.” Many other band members have been in place for decades.

Both have evolved with their professions and endured through times of great turmoil and upheaval. Warren had to account for a stock market gradually invaded by algorithms, quants and others who have made traditional value investing a very patient game that relatively few investors can relate to compared to decades ago. Jimmy had to embrace the commoditization of the music business, in which people now download songs for free instead of buying record albums. Fortunately for Jimmy, his live concerts were already legendary by the time this started to happen.

In their respective playing fields and as investors, Warren and Jimmy Buffett (who, again, are not related) have each brought admirable qualities to the nature of business, investing and the way we approach what drives us. And while they have done so in completely different spheres, capitalism ultimately became something they could capitalize on, by making smart decisions, being patient and looking at their businesses with wide perspective that has only increased with age. Or as Jimmy says, “Changes in latitudes, changes in attitudes, nothing remains quite the same.”

This material contains the current opinions of the author, Rob Isbitts, but not necessarily those of Dynamic Wealth Advisors and such opinions are subject to change without notice. This material has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Past performance is not a guarantee or a reliable indicator of future results. Investing in the markets is subject to certain risks including market, interest rate, issuer, credit and inflation risk; investments may be worth more or less than the original cost when redeemed. There is no guarantee that these investment strategies will work under all market conditions or are suitable for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. No part of this article may be reproduced in any form, or referred to in any other publication, without express written permission. Rob Isbitts offers advisory services through Dynamic Wealth Advisors.