Warren Buffett
Warren Buffett is an American icon, but an enigma, of sorts, also. Investors, stockbrokers, analysts, and students of finance have studied the strategies of Mr. Buffett for decades, and more often than not, they are left with more questions than answers. Buffett was born in Omaha, Nebraska in 1930. His father, Howard Buffett, was an accomplished stockbroker and Congressman, and is primarily responsible for fostering Warren's love for number crunching and capitalism. In the archives of history, he will simply be remembered as "the greatest stock market investor of modern times." At an early age in life, Buffett began to develop an affinity toward the art of investing. As a matter of fact, he was only eleven years old when he purchased his first shares of Cities Service Preferred. At $38 per share, these shares became the first baby steps in the life of who would eventually become America's second wealthiest individual. As a teenager, Buffett turned his investing interests toward real estate. Buffett purchased some Nebraska farmland, and turned around to lease it out to a tenant
He formed this partnership with the small goal of "outperforming the Dow Jones Industrial Average at an average of 10% per year. Under Graham, Buffett learned a tremendous amount of information about investing, but he soon became bored with the "strict rules" of Graham's investing style and started to ". " Yet, the "Oracle of Omaha" still lives in the stucco home that he purchased more than forty years ago for $31,500. That investment calmed his investment fever down until he became a senior at the University of Nebraska. His pet project, Berkshire Hathaway, possesses assets in excess of $165 billion, employs more than 45,000 individuals, and their net income after taxes exceeded $4. Buffett began purchasing stocks in 1962 in Berkshire Hathaway, a struggling textile mill in Massachusetts. This turned out to be a blessing in disguise. Even though Buffett had broadened his approach, he did not completely abandon the concepts that he had learned from Graham.
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