The Story of Warren Buffett From a very young age, Warren Buffett was obsessed with making money and had a very clear dream of becoming a millionaire before 35.
Warren was born during the depression when his dad was in the verge of bankruptcy.
At a very young age, Warren learn the true value of money and the importance of being financially secure.
During his elementary school days, he would tell his classmates that he wanted to become a millionaire before the age of 35 (When he turned 35, his net worth exceeded US$6 million).
Inspired by his dream, he started researching on the secrets of wealth creation.
Through his readings, he found and memorized a book called 'A Thousand Ways to Make $1,000'.
At the age of 6, he started buying coke bottles at 25 cents per six-pack and selling them at 5 cents a bottle, giving him a 16% gross profit, as he would tell himself.
At the age of 13, he got a job delivering newspapers and through innovative marketing and distribution strategies, he served 500 hundred customers a day.
How did he do that? Well, he was his own boss at 13, hiring other neighbourhood kids to do the delivery for him.
At the age of 11, he took all his savings and started investing in the stock market.
His first investment was 3 shares in a company called 'City Service'.
While most kids were reading comics, he was spending most of his time reading company annual reports.
At the age of 14, he invested in pinball machines, which he installed in restaurants all over his town.
He was earning US$175 per week, in fact he was earning as much as the average 25 year old was earning in 1944.
Warren later mastered the art of investing by modeling two of the world's greatest investors during his time, Benjamin Graham (the father of Value Investing) and Philip Fisher (the father of Growth Investing).
By combining the ideas of both geniuses and further refining them, Buffett has become the most powerful investor in the world!
He is also well known for his simple tastes, including McDonald's hamburgers and cherry Coke.
Despite a net worth measured in billions, Warren earns a base salary of $100,000 a year at Berkshire Hathaway, a salary that has not changed in 25 years.
His definition of personal success and luxury, which he revealed during an interview with CNBC, provides additional insight into his philosophy.
"Success is really doing what you love and doing it well.
It's as simple as that.
Really getting to do what you love to do everyday - that's really the ultimate luxury...
your standard of living is not equal to your cost of living.
" And what Buffett loves to do everyday is work at Berkshire Hathaway While most Act-Rich celebrities show up for charities in their limousines and their $500,000 Mercedes Benzes (Paris Hilton) or $25,000 purses (Lady Gaga), Buffett is not an accumulator of toys or other trappings of wealth.
He views the maintenance and expense associated with these things as a burden.
It's a view that he extends to cellular telephones and computers, too.
Warren was born during the depression when his dad was in the verge of bankruptcy.
At a very young age, Warren learn the true value of money and the importance of being financially secure.
During his elementary school days, he would tell his classmates that he wanted to become a millionaire before the age of 35 (When he turned 35, his net worth exceeded US$6 million).
Inspired by his dream, he started researching on the secrets of wealth creation.
Through his readings, he found and memorized a book called 'A Thousand Ways to Make $1,000'.
At the age of 6, he started buying coke bottles at 25 cents per six-pack and selling them at 5 cents a bottle, giving him a 16% gross profit, as he would tell himself.
At the age of 13, he got a job delivering newspapers and through innovative marketing and distribution strategies, he served 500 hundred customers a day.
How did he do that? Well, he was his own boss at 13, hiring other neighbourhood kids to do the delivery for him.
At the age of 11, he took all his savings and started investing in the stock market.
His first investment was 3 shares in a company called 'City Service'.
While most kids were reading comics, he was spending most of his time reading company annual reports.
At the age of 14, he invested in pinball machines, which he installed in restaurants all over his town.
He was earning US$175 per week, in fact he was earning as much as the average 25 year old was earning in 1944.
Warren later mastered the art of investing by modeling two of the world's greatest investors during his time, Benjamin Graham (the father of Value Investing) and Philip Fisher (the father of Growth Investing).
By combining the ideas of both geniuses and further refining them, Buffett has become the most powerful investor in the world!
In Buffett's own words: "I'm 15 percent Fisher and 85 percent Benjamin Graham.Values of Buffett What I really admire about Buffett is also his legendarily frugal, residing in the same house in Omaha, Nebraska, that he bought in 1958 for $31,500.
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.
"
He is also well known for his simple tastes, including McDonald's hamburgers and cherry Coke.
Despite a net worth measured in billions, Warren earns a base salary of $100,000 a year at Berkshire Hathaway, a salary that has not changed in 25 years.
His definition of personal success and luxury, which he revealed during an interview with CNBC, provides additional insight into his philosophy.
"Success is really doing what you love and doing it well.
It's as simple as that.
Really getting to do what you love to do everyday - that's really the ultimate luxury...
your standard of living is not equal to your cost of living.
" And what Buffett loves to do everyday is work at Berkshire Hathaway While most Act-Rich celebrities show up for charities in their limousines and their $500,000 Mercedes Benzes (Paris Hilton) or $25,000 purses (Lady Gaga), Buffett is not an accumulator of toys or other trappings of wealth.
He views the maintenance and expense associated with these things as a burden.
It's a view that he extends to cellular telephones and computers, too.