Warren Buffett
Warren Edward Buffett (born August 30, 1930) is a wealthy American investor and businessman.Called the "Oracle of Omaha" he has amassed a substantial fortune, from astute investments through his company Berkshire Hathaway. Buffet holds 38% of Berkshire Hathaway, which gives him a paper value in the multi-billions. He is often ranked as the second-richest man on earth, surpassed only by Microsoft Chairman Bill Gates.
Buffet's core strategy is simple, he invests early in undervalued companies with low costs, low p/e ratios, and good growth potential for the long term. The identification of these companies is the tricky part. The actual value generated is more by the companies he owns than stock market investments, although his stock ownership in companies such as Coca Cola and Gillette[?] attracts more attention as does his dismissal of "hi-tech" companies. It should also be noted that his investments have on occassion been less successful.
He was born in Omaha, Nebraska the son of a stokebroker and Congressman. He was educated at the University of Nebraska (transferring there from the Wharton School of Finance and Commerce, University of Pennsylvania) and took a masters in economics at Columbia University, studying under Benjamin Graham[?]. He went on to work for Graham at Graham-Newman following his 'value investing' rules and for his father's banking business. Buffet returned to Omaha in 1957 and started his own investment partnership, by 1969 he had returned an average of almost 30% a year. One of his earliest investments was in American Express[?].
Among the companies he invested in was Berkshire Hathaway, a New Bedford textile company. Buffett sold his investment but kept the name and turned the shell of the company into a investment business, notably in the insurance field which generated a steady cash flow for futher investment. Berkshire Hathaway currently owns around forty companies that employ 150,000 people.
He married Susan Thompson in 1952, they separated in 1977 but remain married. She is a significant stock-holder in Berkshire Hathaway and a board member. Buffett lives with Astrid Menks while his wife resides in San Francisco. he has three children.
In terms of his personal life he is famously frugal. Through the Buffett Foundation he makes charitable donations, usually around $12 m a year in total. He has stated his intention to disburse 99% of his wealth after his death to good causes.
His main business aide is Charles Munger, once a lawyer with Munger, Tolles and Olson and now CEO of Berkshire Hathaway subsidiary Wesco Financial and vice-chairman of Berkshire Hathaway. It is believed he will succeed Buffett.
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begin again.
At other times he would come and surprise me in bed. I would pretend to
great alarm and threatened to be avenged. From this arose fights among
would tickle him, and then he shuddered, giving vent to the frank and
between his two shoulders like a tortoise withdrawing into his shell, and
delicate that a young girl's cheek would have been proud of it. How many
nightdress before the fire.
I had been forbidden to undress him, because it had been found that I
check the romping that was going too far, he would slowly drop his
back the big tear glittering beneath his eyelid.
What courage was not necessary in order to refrain from calming with a
swollen heart, from drying the tear that was overflowing and about to
warm tear slowly falling, in a little contracted face, a little heaving
loved recollections; and now that my baby is thirty years old and has a
voice, "Good morning, father," it still seems to me that an echo repeats
CHAPTER XXVII
THE LITTLE BOOTS
In the morning when I left my room, I saw placed in line before the door
and dulled by the rough usage to which he subjects them. The sole of the
the right.html">right. The laces, worn and slack, hung to the right and left.
accustomed movements of his little foot had left their traces in the
that I can still see the boots of the dear little one placed there on the
beside an elephant. They were his every-day boots, his playfellows,
devoted to him, and shared his existence so closely that something of
a thousand; they had an especial physiognomy about them; it seemed to me
.
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