Warren Buffett: Review
How do you define a well rounded person? For me, it is someone who has a sense of direction, who knows that there is more to life than money and power, and who can think for others when in position of prosperity. Trying to look for such a person amid some national and international heroes may actually be quite a disappointing exercise in complete futility. Heroes in sports and media have done good work for sure but other things like involvement in drugs or such news of such anti social behavior mars their image in seconds and they fall from grace very rapidly. But when Forbes published its list of billionaires in February 2008, we got a pleasant surprise. When Forbes announced the list of richest men in the world in 2008, the world certainly took notice. Because this time things were different! It wasn't Bill Gates occupying the first place and neither anyone we had heard too often about. It was Warren Buffet, the owner of several businesses in the US, with an estimated worth of $62 billion. But as much s his wealth be a subject of interest, what makes Buffet stand out from the herd of billionaires is his philanthropic streak. Buffet is well renowned for his charity work and the major beneficiaries have been none other than Bil
Speaking about the non-productive side of gold, he once said, "It gets dug out of the ground in Africa, or someplace. Buffet understands the disparities that exist in the social strata in the US. Apart from that, we need to understand that Buffet's consistent philanthropic work is originating from some need, some noble idea. His influence on the world has often been acknowledged and in 2007, he was named as one the 100 most influential men by Time magazine. Buffet was exposed to stock market at a very young age being the son of a stock broker. "iiWarren Buffet's style of investing has been called the value investing method where stocks are purchased for their intrinsic value even if face value is low. Anyone watching from Mars would be scratching their head. It is interesting to read some of his arguments on various subjects. A hundred years from now they will still be the cornerstones of investing. " Buffet has spoken in favor of estate tax and while some saw it as a noble thing, there were others who criticized him for the same. He feels that Buffet supports this taxation because he gets to benefit from it. And the fact that most of his wealth would be going to charity after his death is what makes him a man to be trusted. As the result, Buffet became the student of legendary Benjamin Graham and this must have been the most important turning point in his life.
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