Warren Buffett - biography, photos read online
Warren Buffett biography
Warren Buffett was born in Omaha, Nebraska, USA. His father was a U.S. congressman who stepped into office in 1942. His father was a businessman and a politician. As Donald Trump said, the best way to become rich is to be born into the right family. His mother counted well in her mind. That is why Buffet was good at counting and multiplying numbers in his head since he was a child. Not everyone can do that, Warren was considered a gifted child.
Thanks to his father, Warren decided to invest. And at the age of 11, he bought his first shares of Cities Service Company at $38 apiece. At first the stock dropped to $27, after which Warren got upset. Soon the stock was up to $40 and he decided to sell it. After selling the stock rose to $200, and he learned his most valuable lesson from his childhood.
Warren had always developed a taste for money. While his peers played computer games and drank as much as they could. He was self-educating. Learning new things, and taking initiative and ingenuity.
Buffett's first job as a child
Buffett's first jobWarren Buffett got a job as a mail carrier at age 13. At the age of 13, he started working and improved the route of delivering the newspaper to the house. And after that he delivered the newspaper to more customers, and he earned quite well. His salary could be compared to that of the director of that post office.
Since childhood he tried to save money, and gradually invested it. He made his first purchase by buying a plot of land. Which he rented out to farmers. He also bought non-working slot machines, had them repaired, and sold them. And a few of them he installed in stores and made a profit on their profits. On occasion, he even shared the profits with the shopkeeper.
Warren Buffett Study Time
Buffett's whole family moves to Washington, D.C., after his father wins congress. The next step for Buffett was to apply to Harvard. He passes the tests for admission, but is rejected because he was too young to attend Harvard. He then goes to Columbia University in New York. Where he meets his best investment mentor, Benjamin Graham. At the time, he was considered the greatest investor. He was the one who started investing in stocks wisely. At a time when others thought profits in stocks were a matter of chance.
According to Warren Buffett, Graham gave him the basics of intelligent stock investing. Buffet is the only one who got the highest score from him. He wrote the famous book "The Intelligent Investor" among investors.
Graham believed that it was necessary to have a very intelligent approach to buying stocks. Study the company, study the firm's reports. He taught not to speculate on stocks. At the time, Buffett developed his own system of investing. Before you buy a stock, you have to not only study the company's financial reports. But also to get acquainted with the real situation of the company, the training of their staff, including top managers.
The beginning of the journey, how I met my soul mate.
After his studies, Buffett works for a while in various firms. At this time, he meets his soulmate Susan Thompson, whom he marries and who gives birth to his three children. They lived together for over half a century and in 2004, Buffett's wife died suddenly. Now Buffett is married to another woman, Astrid Menkes.
In 1956 he organizes his first company with the support of his entire family. And he calls his investment partnership Buffett Associates. And with a budget of $100,000, he turns it into $7 million.
In 1965 he bought a controlling stake in the loss-making Berkshire Hathaway. The company was engaged in insurance and investments. Once Warren Buffett took over, any loss-making business would become profitable.)
And in 2007, Barron's magazine named Berkshire Hathaway the most reputable enterprise on the planet. It has, over the past dozen years, made a leader that controls more than 40 companies and various market sectors including publishing, furniture manufacturing And various financial services. Buffett currently owns more than 30% of the company's stock.