The Life Story of Warren Buffet

Age 84
World Rank in Wealth 3
Source Of Wealth Berkshire Hathaway
Born Omaha, Nebraska, United States
Net Worth 72.3 Billion USD
Books Essays of Warren Buffet
Marital Status Widowed, Remarried
Spouse Astrid Menks(2006), Susan Buffet(1952-2004)
Education University of Nebraska
University of Pennsylvania
Columbia Business School
Movies Buffet and Gates Go Back to School
Children 3
Best Quotations You do not have to cheat to get rich

Brief Description

Warren Buffet is an American business magnate, investor and philanthropist. He is the

chairman, CEO and largest shareholder of Berkshire Hathaway (American multinational
conglomerate holding company headquartered in Omaha, Nebraska, USA). He is one of the
greatest investors of all time. He is also known as Wizard Of Omaha for his long term
investments and is one of the most respected businessmen in the world. He was ranked as
the Worlds Wealthiest Person in 2008.

QUOTE == You do not have to cheat to make money.

Early Life
Buffet was born in 1930 in Omaha, the same region where he lives currently. He and his
family moved to Washington, D.C. He completed his elementary school and liked Math and
wanted to become a future stockbroker.

As a child he displayed immense interest in Saving and Investing Money. He sold chewing
gum, Coca-Cola or weekly magazines door to door. He bought Coca Cola from his
grandfathers grocery store and sold them for 5 cents each at a profit of 20%.

Warren is said to love numbers. When he was a kid he memorized the shares of all big and
small companies from the book given to him by his father.

FIRST ENTREPRENEURIAL BUSINESS

At 11 years old, he made his first investment. That is he bought 3 shares of Cities Service at
38$ per share. But the stock quickly dropped to 27$. He was sad but he waited for a long time
until the stocks had reached 40$ each share. He sold these shares at a small profit but was
feeling guilty as if he had waited a bit more the stocks had reached to 200$ each share! He
said that he had learnt his first lesson in stocks and investing. That is patience in investing is
an important key.

QUOTE = Warrens friends said that he was a prodigy in Mathematics and was able to
add large amounts of money in his head at an early age.

As he lived in Omaha, he already knew what it is like to be poor as he had seen the early days
of The Great Depression. He said to his father that he wants to be rich, very rich.

In 1945, Buffet (aged 15) and his friend spent 25$ on a pinball machine and placed it in a local
barbers shop. Within few months, they owned several alike machines placed in different
barber shops. Then he sold this business to local company for $1,200 (INR 72000).

QUOTE= The basic ideas of investing are to look at stocks as business, use the
market's fluctuations to your advantage, and seek a margin of safety. That's what Ben
Graham taught us. A hundred years from now they will still be the cornerstones of
investing.

Higher Education

Buffet attended University of Pennsylvania at the age of 16 to have a deeper knowledge of

business and accounting. He stayed there for approximately 24 months and then moved to
University of Nebraska to finish up his college at the age of 20.

He had saved around $10,000 (INR 6,00,000) from his childhood businesses. Buffet later
attended Columbia University to pursue further education.

He was now completely ready to make his business rock with deeper knowledge of stocks,
bonds, investments, etc.
He says at the time of starting his business, he bought undervalued stocks of good
companies that an excellent bang for buck profit annually.

Recent Years

Buffet is now wealthier than ever because of the rock solid performance of his diversified
investment firm Berkshire Hathaway. Hathaways Class A stock surpassed the price of
$200,000 per share( INR 1,20,00,000 ) in August 2014.

He ranks as per the following according to Forbes:

Billionaires Lists 3 in World

2 in United States
Powerful People 12

His 2015 Budget:

Credits

Image used after First Entrepreneurial Heading:

http://www.blogcdn.com/slideshows/images/slides/100/124/1/S1001241/l.jpg
Featured Image : http://rt.com/files/news/21/91/c0/00/warren-buffett.jpg
 Information:
http://www.forbes.com/profile/warren-buffett/
http://en.wikipedia.org/wiki/Warren_Buffett
http://www.biography.com/people/warren-buffett-9230729
2015 Budget Picture:
https://www.youtube.com/watch?v=RVGVjk1amWE

Stay Tuned for my next post: Excellent Quotes by Warren

Buffet