Warren Buffett

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1 Biography

Biography

Warren Buffett is commonly considered to be the number one investor of all time in the U.S. stock market. He is alternately listed as one of the top 3 richest people in the World, and the company he built, Berkshire Hathaway is a leading global concern. He is one of the top proponents of the Value investing school of investing, and is known as the "Oracle of Omaha."

Buffett is a lifelong resident of Omaha, Nebraska. He was born in Omaha on August 30th., 1930. His father, Howard Buffett was a local stockbroker and taught young Warren the basics of investing in stocks.[3] The family was also frugal, a lesson that young Warren would hold dear for the remainder of his life. His search for investments that could be had at a "bargain" probably stem from his early upbringing. The young Buffett was entrepreneurial, and developed a lifelong fascination for the newspaper business by functioning as a newspaper delivery boy.

All of his life, Buffett not only yearned to be rich, but he expected. Long before he ever made any big money, he had devised plans for what to do with great wealth. His logical mind was so secure of eventual success, that the thought of failure never occurred to him.[1A]

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Investing Style

Buffett was a student of Benjamin Graham and studied the discipline of securities analysis from Graham. Graham was the author of the influential "The Intelligent Investor, which was a seminal text on investing that Buffett read as a senior at the Univesity of Nebraska. Buffett attended Columbia University on the strength of Graham being a professor there, and ended up earning his Master's Degree in Economics from the University. Buffett then went to work for Graham at his investment firm and didn't go on to work for himself until Graham retired.[6]

Buffett has been known for the extremely long holding periods of many of his investments. Buffett has held on to certain equities for 3 decades or longer, in an era where many people are content to enter and exit trades quickly. He is the quintessential proponent of the "Buy and Hold" philosophy, especially when he finds shares that he considers to be a "bargain." Even he admits that there are limitations to the Buy and Hold mentality, especially in the current market.[2]

Professional style

Buffett is a well-known and highly sought after public speaker. His annual reports have become legendary for their straightforward style and easy to understand nature. Thousands of investors flock to the Annual shareholder's meetings of Berkshire Hathaway in order to hear Buffett give his speech.