Warren Buffett has a secret (yes, he invests like a girl). It made him the world's best investor and third-richest man.
Read on to discover what the Oracle has been hiding since 1951 -- and how his "secret" can make us some
serious money, too!
Click to read http://www.infinitilinx.blogspot.com
Born Warren Edward Buffett
on August 30,1930, in Omaha,
Nebraska. Buffett's father
Howard worked as
stockbroker and served as U.S.
Congressman. His mother,
Leila Stahl Buffett, was a
homemaker. Buffett was the
second of three children and
the only boy.
Buffett demonstrated a knack
for financial and business
matters early on in his
childhood. Friends and
acquaintances have said the
young boy was a
mathematical prodigy, and
was able to add large columns
of numbers in his head-a
talent he still occasionally
shows off to friends and
business associates.
Warren often visited his father's stockbrokerage shop as a
child, and chalked in the stock prices on the blackboard in
the office. At 11 years old he made his first investment; he
bought three shares of Cities Service Preferred at $38 per
share. The stock quickly dropped to only $27, but Buffett
held on tenaciously until they reached $40. He sold his
shares at a small profit, but regretted the decision when
Cities Service shot up to nearly $200 a share. He later cited
this experience as an early lesson in patience in investing.
First Entrepreneurial Venture
By the age of 13, Buffett was running his own businesses as a
paperboy and selling his own horseracing tip sheet. That
same year, he filed his first tax return, claiming his bike as a
$35 tax deduction.
In 1942, Buffett's father was elected to the U.S. House of
Representatives, and his family moved to Fredricksburg,
Virginia, to be closer to the congressman's new post. Buffett
attended Woodrow Wilson High School in Washington, D.C.,
where he continued plotting new ways to make money.
During his high school tenure, he and a friend purchased a
used pinball machine for $25. They installed it in a
Washington, D.C. barbershop and, within a few months, the
profits of the machine allowed Buffett and his friend to buy
other machines. Buffett owned three machines in three
different locations before he sold the business to a War
Veteran for $1,200.
Higher Education
Buffett enrolled at the University of Pennsylvania at the age
of 16 to study business. He stayed two years, moved to the
University of Nebraska to finish up his degree, and emerged
from college at age 20 with nearly $10,000 from his
childhood businesses.
Buffett attended Columbia University for his advanced degree
and in 1956, shortly after graduation, he formed the firm
Buffett Partnership in his hometown of Omaha. His
investment successes, particularly in buying undervalued
companies whose stocks shortly began to rise, made him
extremely rich and gained him the sobriquet, "Oracle of
Omaha." Other notable career succeses include helping
rescue Salomon Brothers from corporate raiders (1987) and
taking charge of the New York City house (1992) in the wake
of an insider trading scandal.
Habits
1) Warren bought his first share at age 11 and he now regrets that he
started too late!
2) He bought a small farm at age 14 with savings from delivering
newspapers.
3) He still lives in the same small 3 bedroom house in mid-town
Omaha, that he bought after he got married 50 years ago. He says
that he has everything he needs in
that house. His house does not have a wall or a fence.
4) He drives his own car everywhere and does not have a driver or
security people around him.
5) He never travels by private jet, although he owns the world's
largest private jet company.
6) His company, Berkshire Hathaway, owns 63 companies. He writes
only one letter each year to the CEOs of these companies, giving them
goals for the year. He never holds meetings or calls them on a
regular basis.
7) Warren Buffet has given his CEO's only two rules.
Rule number 1: Do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
He does not socialize with the high society crowd. His past time after
he gets home is to make himself some pop corn and watch television.
9) Bill Gates, the world's richest man met him for the first time only 5
years ago. Bill Gates did not think he had anything in common by
Warren Buffet. So he had scheduled his meeting only for half hour.
But when Gates met him, the meeting lasted for ten hours and Bill
Gates became a devotee of Warren Buffet.
10) Warren Buffet does not carry a cell phone, nor has a computer on
his desk.
11) His advice to young people: Stay away from credit cards and
invest in yourself.
12) He has donated $31 billion (85% of his fortune) to charity
there sinessmanq
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