Finance

Life and History of Warren Buffett

Since childhood, this man already performed miracles with money. Check out the story of one of the most legendary businessmen in history.

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Investments is an area that certainly has a lot of philosophies and names. People with actual results, that had them over different strategies and techniques, and tries to show that way of investing is better for any reason.

However, few people inspire so much credibility and inspiration in this area (or any area at all), that Warren Buffett.

The Oracle of Omaha is one of the richest persons in the world and shows no sign of stopping, even at 91 years old.

This article does not intend to be an autobiography, but a tribute to a person whose discipline and faith in his philosophy, allied with incredible patience, looking at the long term, can truly make a difference, and given time, amazing results

What stocks is Warren Buffett investing in 2022

When we talk about investments, the Oracle of Omaha is an all-time reference on the subject. Take a look at some of his bets in 2022

Childhood

Warren Buffett was born in Omaha, the biggest city in Nebraska, on August 30th, 1930, the second of three kids (he has 2 sisters, called Doris and Bertie). Buffett’s father was a stockbroker and a member of the U.S Congress called Howard Buffett.

Warren’s Grandfather owned a shop in Omaha.

As we can see, the idea of entrepreneurship and finances was already very vivid in Buffett’s life since his childhood. Not only that, an educated family allowed Warren to begin his love for reading and books.

One fun fact, some people say that Buffett reads up to 500 pages daily of books, financial reports, and studies.

So, we can see that the environment we put ourselves in can indeed shape our way of thinking. We need to be careful regarding where we live and with whom we talk and share our visions.

Another conclusion is that no matter how many results and experiences you have, you need to keep studying, meditating, and improving yourself, regardless.

During his childhood, Warren always tried to find ways of gaining some money. During this period, he used to knock door-to-door selling candy, Coca-Cola, and newspapers. He also worked in the candy shop of his grandfather.

Much of Buffett’s will to work came from a book that he found in a library at the age of seven called “One thousand ways to make US$1.000”

One of the most know stories of that time is the one in which Buffett and a friend bought a pinball machine, which they placed in a local barber shop.

With such an adventurous veil and a true talent for business and money, by the time he finished school, Warren Buffet already had US$ 90.000 in savings.

Early adulthood

He began his college academic life at the University of Pennsylvania in 1947, where he participated in a fraternity called Alpha Phi Alpha. Two years later he transferred to the University of Nebraska-Lincoln, where in 1950, at the age of nineteen, he finished his degree, becoming a Bachelor of Business Administration.

Buffett entered Columbia Business School after learning from Benjamin Graham and David Dodd, two well-known economic analysts, and authors of the books “Security Analyses” and “The Intelligent Investor.” He received a Master’s degree in Economics in 1951. Buffett also has a degree from the New York Institute of Finance.

Benjamin Graham was one of the most influential investors ever, and has in Warren Buffett one of his most devoted paladins, in the words of Buffett himself:

“The basic ideas of investing are to look at stocks as business, use the market’s fluctuations to your advantage, and seek a margin of safety. That’s what Ben Graham taught us. A hundred years from now they will still be the cornerstones of investing

Early jobs and Berkshire Hathaway

Buffett was employed from 1951 until 1954 at Buffett-Falk and Co. as a salesman, from 1954 to 1956 at Graham-Newman Corp. as an Analyst, from 1956-1969 at Buffett Partnership, Ltd. as a Partner and from 1970 to the present is the Director of Berkshire Hathaway Inc.

What many people do not know is that Warren Buffet did not found Berkshire Hathaway, in fact, this company was not even an investment holding at all.

His business performance mirrors his enormous talent for multiplying money – his own and others. In 1965, when he took over Berkshire Hathaway, then a firm with origins in textiles but also selling insurance, the company’s shares traded for less than $10 each.

 Today, a single share costs almost 100,000 dollars, an astonishing 1,000,000% appreciation in forty years.

Anyone who had invested a hundred dollars in Buffett’s firm in 1965 would today have a million dollars. The same $100 applied to the Dow Jones average would be equivalent to practically $1,500.

Conclusion

It is very interesting to say that 99% of Warren Buffet’s fortune was acquired after he turned 50. It is a loud statement that it is never too late to become a rich and successful person.

Not that Warren wasn’t a successful businessman and investor before, but persistence, allied with study and patience shows us that is possible, regardless of the ways life leads you.

 For example, what would happen if Harvard accepted Buffett? What he could have considered a failure before could be the biggest blessing.

But if you persist, hold fast, and stay true to your visions, sooner or later, you may get there.

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