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Why 'Shark Tank' Investor Kevin O'Leary Refuses To Spend $2.50 On a Cup of Coffee (cnbc.com)

Posted by msmash on from the measured-approach dept.

An anonymous reader shares a report: Kevin O'Leary has invested hundreds of thousands of dollars in small businesses over the course of his tenure as a star and investor on ABC's "Shark Tank." But there is one business to which he refuses to fork over his hard-earned dollars: coffee shops. "Do I pay $2.50 for a coffee? Never, never, never do I do that," O'Leary tells CNBC Make It. "That is such a waste of money for something that costs 20 cents. I never buy a frape-latte-blah-blah-blah-woof-woof-woof for $2.50." Instead, he makes it at home. "I drink coffee, one cup every morning," he explains. "It costs about 18 cents to make it, and I invest the rest." That idea -- saving small sums and investing continually -- is central to O'Leary's personal finance advice. "The truth is, there is a lot of crap you don't need," he explains.

4 of 750 comments (clear)

  1. Who Gives a Shit? by Luthair · · Score: 4, Informative

    How is this News for Nerds? More importantly do we really want to take financial advise from this guy?

  2. Re:Wholeheartedly agree by badzilla · · Score: 3, Informative
    People who like tea don't use tea bags

    This is outdated information; it was true 50 years ago but no longer. You can still just about buy loose tea but a trip to any supermarket will show you dozens of different brands of teabags. I am talking about regular people drinking tea in their offices not the occasionally-encountered specialist tea snob.

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    "Don't belong. Never join. Think for yourself. Peace." V.Stone, Microsoft Corporation
  3. Re:Wholeheartedly agree by dunkelfalke · · Score: 1, Informative

    It is not about brands, it is about the quality of tea that goes into teabags. Which is crap (generally tea dust, fannings if you are lucky). Hence it is just true today as it was 50 years ago.

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    "It's such a fine line between stupid and clever" -- David St. Hubbins, Spinal Tap
  4. Re:Rich people think by mark-t · · Score: 4, Informative

    Of the things you've mentioned, the only thing actually poor people can do is ask to borrow money. People who have any ability to do the other things you said are not poor.

    I've been poor. We didn't have a cable tv package, fancy or otherwise. We had one car between my wife and I, and we drove that thing into the dirt. We bought groceries at the nearby discount grocery store, and we certainly didn't go on any vacations.

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    File under 'M' for 'Manic ranting'