Warren Buffett Biography

No Warren Buffett Biography can ever really define every facet of this remarkable man. He was born in 1930 on August 30th, in Omaha, Nebraska. In 1942 Howard Buffet, Warren's father, a former stockbroker, was elected to the United Sates Congress and the family moved to Washington DC.

It could possibly be said that young Warren was born to be in the world of finance. He was the only boy of three children and from a very early age, he displayed an extraordinary aptitude and ability for both money and business. Even at a very early age, he must have been influenced by his father's achievements and recognized the natural abilities and instincts within himself. He spared almost no effort to drive himself towards goals that he consciously or sub-consciously set - goals that adhered to the basic and logical principles of business, goals that were so much an inherent part of him.

No Warren Buffett biography would be complete without mentioning that from the age of six, Warren displayed a sign of things to come, when he purchased six packs of Coca Cola and sold them individually for a profit. This must surely be a perfect and true example of beginner investing! He started his own business by going door to door and selling weekly magazines, chewing gum and Coca Cola.

For some time, he had been employed in his grandfather's grocery store and at an early age, developed an interest in economics - mainly the stock market. When Warren was ten he visited the New York Stock Exchange during a visit to New York . It is believed that during this same period, he bought some shares of Cities Service for his sister Doris and himself.

In 1947 Warren Buffett started his studies at one of University of Pennsylvania colleges, from which he transferred to the renowned University of Nebraska-Lincoln. In 1950, he received a BS in Economics and successfully applied to Columbia Business School, obtaining MS in Economics in 1951. Benjamin Graham and David Todd, both top securities analysts, were some of the influencers of Warren Buffett. Any Warren Buffett biography would mention how huge Benjamin Graham was to Warren's investing philosophy. Basically, the core of Warren Buffett's investing philosophy now and way back then come from Benjamin Graham. Yeah, Graham was a huge influence.

After his graduation from Columbia Business School, Warren wanted to be employed on Wall Street, but Ben Graham and his father persuaded him against it. He returned to Omaha, where he enlisted in a public speaking course of Dale Carnegie while working as a stockbroker. He then became a teacher of "Investment Principles" in night classes at the University of Nebraska-Omaha. It is interesting to note, that his age of about 20 was less than half of the average age of his students...

In 1952, Warren married Susan Thompson and 1953 saw the birth of their first child, Susan Alice. in 1958, a third child, Peter Andrew was born.

In 1954 year W.B. accepted employment at partnership owned by Benjamin Graham. 1954 was also the year in which the Buffet's second child was born, named Howard Graham. When Benjamin Graham retired (1956), closing his partnership, Warren's personal savings were over $174,000 (which is equivalent to $1.2 million at a 2010 comparison).

Next, he made a decision to start the Buffett Partnership Ltd, which basically allowed people to give Warren their money to invest directly. His rules were simple. He reported earnings once a year and they couldn't bother him otherwise. Also, there a minimum of $10,000 starting investment. He could demand this flexibility and privacy because the investors really believed in Warren. He made good use of the beneficial terms.

For over a decade he gave his investors incredible returns. Every year he either matched or beat the general market and he never had a down year. However, he became fed up with the enthusiasm in the market in the late 60's and closed his partnership completely -- refunding his partners' money. He gave them a list of several companies that he was keeping and encouraged them to do the same. One of those companies was Berkshire Hathaway.

From 1973 the full dynamics of Warren Buffett and his uncanny awareness, foresight ,and vision became a driving force. He left the multi millionaire category in about May 1990 and became a Billionaire. The year 2008, saw him as the world's richest man, but this remarkable person was not motivated by money, which for him, was only a vehicle.

Since early childhood, his life appeared as a mission, with a motivation and passion for business that came from within. His founding basics are shown in his quotations, which contain genuine and proven advice for anyone who needs guidelines, not only in business, but in life as well!

Thus concludes the Warren Buffett biography. Actually, I'm skipping over a lot of things (he's been a busy man) and a Warren Buffett biography can't be complete yet because he's still alive!

Reading about other successful entrepreneurs like Warren Buffet or Ehsan Bayat can provide insight on business.

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