Warren Buffett - Basic and Interesting

Warren Buffett is one of the greatest if not the greatest stock investors of all time. Buffett started late, too late by his own admission, at the age of 11. The three stocks he purchased, for himself and his sister Doris, were Cities Service Preferred. Shortly after purchasing these stocks, their value fell from $38.00 per share to $27.00 per share. Warren held out against his fears and sold them after they rebounded to $40.00. A lesson to Buffet about patience; the stocks continued to climb to $200.00 a share.

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." Warren Buffett

The Oracle of Omaha did not plan on attending college, but because of pressure from his father he attended the University of Pennsylvania and ended up transferring to the University of Nebraska-Lincoln shortly after his father was in the 1948 Congressional race. Warren worked full-time and still graduated in three years. After college, Buffett ended up being turned down by Harvard and continuing his academic education at Columbia. This would be the introduction of Ben Graham to his life.

"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction." Warren Buffett

One student had ever earned an A+ in one of Ben Graham's classes; that would be the most successful investor of all times - Warren Buffett. Even with this feat Graham denied him a job post graduation. Eventually, he would work for Ben Graham though. But for the time, Buffett returned home to work in his father's brokerage house. With this return home though, the young man met his soon to be wife, Susie Thompson. Warren's family grew with his success. There was also a move, naming a house "Buffett's Folly". Buffett started the roots of Berkshire Hathaway during this time as well.

"Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results." Warren Buffett

Buffett has listened to great people in the aspect they are great in. Ben Graham and David Dodd with investing. It should be noted that Ben Graham looked purely at numbers and not at management as Warren does. For public speaking, he attended Dale Carnegie's course. When he was in college, he met with the Financial Vice President of GEICO and had a four hour conversation with the gentleman.

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Warren Buffett

Having been the wealthiest man in the world once; this is a man who is down to earth and believes in simple living. Still living in "Buffett's Folly", although his wife moved to California. And as a side note, introduced Buffett to Astrid Menks. Within a year, Astrid moved in and had Susie's best wishes. Even being one of the wealthiest men in the world, this is a man who drives himself. Buffett does not seem to go to high-society events often. He has met Charlie Munger through mutual friends. Charlie is Vice-Chairman of Berkshire Hathaway Corporation. Another person to have been titled the wealthiest person in the world and friend of Warren is Bill Gates. The two met each other through Bill's mother setting a meeting for them.

"I buy expensive suits. They just look cheap on me." Warren Buffett

Simple is not always boring. This is an example of a man who knows who he is, what he likes, and where he wants to be in life. Showing determination all his life, Buffett has been successful in life and created a reputation that leaves many in awe of his presence. The most repeated advice from Buffett is, "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." Buffett's life-style shouts at us to not attempt to impress others, enjoy yourself and be yourself. And look to the future.

"Someone's sitting in the shade today because someone planted a tree a long time ago." Warren Buffett