Who Is Warren Buffett?
Most people have heard the name Warren Buffett and know him as a
famous billionaire investor. However, there’s much more behind the
name than someone who squirreled money away in the stock market to build his
wealth.
Warren Buffett was born in Omaha in 1930. He developed an
interest in the business world and investing at an early age including in the
stock market. Buffett started his education at the Wharton School at the
University of Pennsylvania before moving back to go to the University of
Nebraska, where he received an undergraduate degree in business administration.
Buffett later went to the Columbia Business School where he earned his graduate
degree in economics.
Buffett had a relatively comfortable upbringing. His father,
Howard Buffett, was an investor turned Congressman, and his mother, Leila
Buffett, was a homemaker. His career started quite early, with him taking a job
as a delivery boy for The Washington Post at 11 years old. Buffett also worked
in his family’s grocery store and spent quite a bit of time at his father’s
small brokerage, where he would watch what investors were doing and what they
said.
If you want to invest like Warren Buffett, you don't need to do
anything extraordinary. In fact, many new investors are surprised at just how
uncomplicated his investment style is. To sum it up in one sentence, Buffett
invests in great businesses trading for less than their intrinsic values, and
then he holds on to these investments for as long as they remain great
businesses.
Buffett began his career as an investment salesperson in the
early 1950s but formed Buffett Associates in 1956. Less than 10 years later, in
1965, he was in control of Berkshire Hathaway. In June 2006, Buffett announced
his plans to donate his entire fortune to charity.2 Then, in 2010, Buffett and
Bill Gates announced that they formed the Giving Pledge campaign to encourage
other wealthy individuals to pursue philanthropy.
Here are top 10 quotes from Warren Buffett, the world's most
famous and successful investor :
1.
“Rule No. 1 is never lose money. Rule No. 2 is never
forget Rule No. 1.”
2.
“Our favorite holding period is forever.”
3.
“Price is what you pay, value is what you get.”
4. “It’s far better to buy a wonderful
company at a fair price, than a fair company at a wonderful price “
5. “Risk comes from not knowing what
you are doing.”
6. “Never invest in a business you
cannot understand.”
7. “If you aren’t willing to own a
stock for 10 years, don’t even think about owning it for minutes”.
8. “Someone’s sitting in the shade today
because someone planted a tree a long time ago.”
9. “I will tell you how to become rich.
Close the doors. Be fearful when others are greedy. Be greedy when
others are fearful.”
10. “No matter how great the talent or
efforts, some things just take time. You can’t produce a baby
in one month by getting nine women pregnant.”
A better approach is to focus more on the companies and funds
where you are investing rather than their daily price movement.
It is the nature of the stock markets to move up and down on
daily basis, that is where it creates opportunities as well as threats too.
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