AGE – 88 YEARS OLD
BORN – OMAHA, NEBRASKA, U.S.
EDUCATION – COLUMBIA BUSINESS SCHOOL (1950 – 1951)
NET WORTH – 8430 CRORE USD
Warrent Buffett is an American business magnate, investors, speaker & he is the chairman CEO & the largest shareholder of Berkshire Hathway. Warren Buffett was born 30 August,1930, in Omaha, Nebraska. Warren Buffett is an investment guru & one of the richest & most respected businessman in the world. Buffett’s grandfather also ran grocery store & Buffett’s father howard, was a local stockbroker & banker who later become Republican congressman.
Warren Buffett known as “Oracle of Omaha”. When he was 11-year-old, Buffett already bought stock & by 16 he had amassed more than $53000 from various business ventures & investment. From a young age, Buffett was bound for success. Buffett purchased shares of CITISES SERVICES preferred for $38 apiece.
After graduating, Buffett applied to HARVAD BUSINESS SCHOOL. But he was rejected by HARVAD BUSINESS SCHOOL. In 1951 he received his master’s degree in economics at Columbia university, where he studied under economist Benjamin Graham (the father of value) & furthered his education at the New York Institute of finance.
He was appointed at a starting salary of 12000 a year at Benjamin Graham’s partnership in 1954. His boss was a difficult man to work with & expected strict adherence to conventional rules of investing which Buffett’s young mind questioned.
Benjamin Graham retired & closed his partnership in 1956. By this time Buffett had a large amount of personal savings with which he opened Buffett partnership Ltd, an investment partnership in Omaha.
He become the richest person in the world in 2008 with a total net worth estimated at $62 billion by Forbes, overtaking Bill Gates who had been the no.1 on Forbes list for the past 13 years. The very next year Gates regained the first position & Warren Buffett moved to second place.
When asked the key to his success, Warren Buffett pointed to a stock of books & said, read 500 pages like this every day. That’s how knowledge works. It’s build’s up, like compound interest.
On February 16,2011, Warren Buffett was awarded the highest civilian honor, “the presidential medal of freedom,” by former president Barack Obama.
WARREN BUFFETT TIP’S
- Never depend on single income. Make investment to create a second source.
- Saving first, spending last.
- Don’t buy things you don’t need.
- Create more earning source.
- Think long – term & be patient.
- Do not put all eggs in one basket.
- If the business does well, the stock eventually follows.
- Invest yourself.
- Our favorite holding period forever.
- It’s far to buy a wonderful company at a fair price than a fair company at a wonderful price.
WARREN BUFFETT QUOTES
- “Without passion, you don’t have energy. Without energy, you have nothing.”
- “The stock market is a device for transferring money from the impatient to the patient.”
- “Someone is setting in the shade today because someone planted a tree a long time ago.”
- “The difference between successful people is that really successful people say no to almost everything.”
- “Focus on your customer & lead your people as though their lives depended on your success.”
- “If you don’t find a way to make money while you sleep, you will work until you die.”
- “If you cannot control your emotions, you cannot control your money.”
- “I look for 3 things in hiring people: integrity, intelligence & a high energy level. But if you don’t have the first, the other two will kill you.”
- “You are your best ASSET.”
- “We have long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie & I continue to believe that short-term market forecast is poison & should be kept locked up in a safe place, away from children & also from grown ups who behave in the market like children.”
- “Risk comes from not knowing what you’re doing.”
- “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.”
- “Read 500 pages every day. That’s how knowledge works. It builds up like compound interest.”
- “Price is what you pay. Value is what you get.”
- “I never invest in anything that I don’t understand.”
- “Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.”
- “The more you lean the more you earn.”
- “The best investment you can make, is an investment in yourself…The more you learn, the more you’ll earn.”
- “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
- “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
- “Time is on your side when you own shares of superior companies.”
- “Don’t save what is left after spending, but spend what is a left after savings.”
- “Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.”
- “Unless you can watch your stock, holding decline by 50% without becoming panic stricken, you should not be in the stock market.”
- “Great investment opportunities come around when excellent companies are surrounded by unusual circumstances that causes the stock to be mis appraised.”
- “The stock market is a no called strike game. You don’t have to swing at everything you can wait for your pitch.”
- “If you are not thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.”
- “Its good to learn from your mistakes. It’s better to learn from people’s mistakes.”
- “Wall street makes it’s money on ACTIVITY… you make your money on INACTIVITY.”
- “People who know the edge of their own competency are safe, and those who don’t, aren’t.”
- “First, many in wall street- a community in which quality control is not prized- will sell investors anything they will buy.”
- “I don’t try to jump over seven- foot bars; I look around for one-foot bars that I can step over.”
- “Never feel guilty for starting again.”
- “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.”
- “I mean, I can buy anything I want, basically, but I can’t buy time.”
- “An idiot with a plan can beat a genius without a plan.”
- “If you are happy every day, I think you are going to live longer.”
- “Don’t pass something that attractive today because you will find something way more attractive tomorrow.”
- “Stay away from credit cards & invest in yourself.”
- “In insurance, as elsewhere, the reaction of weak management to weak operations is often weak accounting.”
- “Don’t put all your eggs in one basket.”
- “I go out & do what I believe I should be doing. And I’m not influenced by what other people think.”
- “If you think being entrepreneur is risky, try working for someone else for 40 years & living off social security.”
- “I learned very early in my life that my favorite employer was myself.”
- “Never count on making a good sale. Have purchase price be so attractive even a mediocre sale gives good results.”
- “There comes a time when you ought to start doing what you want. Take a job that you love.”
- “I try to invest in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
- “Remember, money doesn’t create man, its man who creates the money.”
- “Predicting rain doesn’t count; building arks does.”
- “Success is walking from failure to failure with no loss of enthusiasm.”
- “Never test the depth of river with both feet.”
- “Successful investing takes time, discipline & patience.”
- “It takes twenty years to builds a reputation & five minutes to ruin it.”
- “Smart doesn’t always equal rational.”
- “What we learn from history is that people don’t learn from history.”
- “What the wise do in the beginning, fools do in the end.”
- “Charlie & I would follow a buy & hold policy even if we ran a tax-exempt institution.”
- “If each of us hires people who are smaller than we are, we shall become a company of dwarfs. But , if each of us hires people who are bigger than we are, we shall become a company of gaints.”
- “The best thing that happens to us is when a great company gets into temporary trouble……. We want o buy them when they are on the operating table.”
- “The most important thing to do if you find yourself in a hole is to stop digging.”
- “You only find out who is swimming naked when the tide goes out.”
- “It is not necessary to do extraordinary things to get extraordinary results.”
- “Its better to hang out with people better than you.”
- “Without passion, you don’t have energy. Without energy, you have nothing.”
- “You can’t make a good deal with a bad person.”
- “Honesty is a very expensive gift. Don’t expect it from cheap people.”
- “Having money makes you rich, having time makes you wealthy.”
- “To change your life, you have to change your mindset.”
- “Forget managing the situation. Manage your mind.”
GOLDEN RULES OF WARREN BUFFETT:
RULE NUMBER 1
Never Lose Money
RULE NUMBER 2
