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Warren Buffet 1

Warren

Buffet

An Ideal Entrepreneur

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“A Self made billionaire”

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Contents

Introduction

Lessons learned from life aspects of Warren Buffet

How to become a successful investor

A few sayings of Warren Buffet

Investing money in the right way

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Introduction

Full NameWarren Edward Buffett

Birth DateAugust 30, 1930 (age 85)

Nick Name"Oracle of Omaha“"Sage of Omaha"

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'Oracle Of Omaha' A nickname for Warren Buffet means

Knowledgeable or Wise.

He is called the "Oracle of Omaha" because his investment picks and comments on the market are very closely followed by the investment community, and he lives and works in Omaha.

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SOME INTERESTING ASPECTS OF HIS LIFE AND LESSONS LEARNED

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“At only six years old, Buffet purchased 6-packs of Coca Cola from his grandfather’s grocery store for 25 cents and resold each of the bottles for 5 cents, pocketing a 5 cents profit. While other children were playing games, Warren was making money.”

He bought his 1st share at the age of 11 and he now regrets that he started too late!

Time is Money; Don’t waste it

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Patience is a Virtue At 11 years old, he purchased three shares of Cities

Service Preferred at $38 per share. Shortly after buying the stock, it fell over to just $27 per share. Warren held his shares until they rebounded to $40. He promptly sold them – a mistake he soon came to regret. Cities Service shot up to $200. The experience taught him the basis lesson of investing:

“Patience is a Virtue”

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Don’t Buy more than what you really need

He still lives in the same 3 bedroom house in mid-town Omaha, which he bought after he got married 50 years ago for $31,500 and is now valued at approximately $700,000. He says that he has everything he needs in that house. His house does not have a wall or a fence.

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Be Economical He never travels by private jet, although he owns

the world largest private jet company named NETJETS which is a subsidiary of Berkshire Hathaway

“Always think how you can accomplish things economically!!!”

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Assign right Managers for the job

His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on regular basis.

“Assign the right people for the right jobs”

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Set Goals and communicate them

He has given his CEOs only two rules. Rule # 1: Do not lose any of your share

holder’s money. Rule # 2: Do not forget the rule # 1.

“Set goals and make sure people focus on them”

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Don’t try to Show off

He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.

“Don’t try to show off, just be yourself and do what you enjoy doing”

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Avoid making presumptions

Bill Gates, the world richest man met him only 10 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting for only half an hour. But when Bill Gates met him, the meeting lasted for ten hours. Bill Gates became a devotee of Warren Buffet.

“Don’t make presumptions and be open to all possibilities”

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Advice to Young People

His advice to young people is to stay away form credit cards to avoid spending beyond their means and high interest cost in case of default in payment

“Avoid bank loans and invest in yourself”

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HOW TO BECOME A SUCCESSFUL INVESTOR

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Successful investorsThey take risksThey have a well planned investment

strategyThey always invest with a planned exit

strategyThey are patientThey do not regret their mistakes rather

they learn from themThey do not put all their eggs in one basketThey never test the depth of river with both

the feet

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A FEW SAYINGS OF WARREN BUFFET

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SPEND MONEY IN THE RIGHT WAY

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