Without knowing much about me, it goes without saying that I believe in value investing, the moment I say Warren Buffet. I got to know about Warren Buffet at a time when I was a bit lost and from that day, there have been many sleepless nights of studying towards the Chartered Financial Designation. He is Number 4 on the Forbes Billionaires list, for a long time he only competed with Bill Gates for the top spot, before Jeff Bezos came along of course. Below is an article, that I copied from Wikipedia and Forbes websites:
- Known as the “Oracle of Omaha,” Warren Buffett is one of the most successful investors of all time.
- Buffett runs Berkshire Hathaway, which owns more than 60 companies, including insurer Geico, battery maker Duracell and restaurant chain Dairy Queen.
- The son of a U.S. congressman, he first bought stock at age 11 and first filed taxes at age 13.
- He’s promised to give away over 99% of his fortune. In 2019 he donated $3.6 billion, much of it to the foundation of friends Bill and Melinda Gates.
- In 2010, he and Gates launched the Giving Pledge, asking billionaires to commit to donating half their wealth to charitable causes.
Warren Edward Buffett (; born August 30, 1930) is an American investor, business tycoon, and philanthropist, who is the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of US$88.9 billion as of December 2019, making him the fourth-wealthiest person in the world.
Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from the University of Nebraska at the age of 19. He went on to graduate from Columbia Business School, where he molded his investment philosophy around the concept of value investing that was pioneered by Benjamin Graham. He attended New York Institute of Finance to focus his economics background and soon after began various business partnerships, including one with Graham. He created Buffett Partnership, Ltd in 1956 and his firm eventually acquired a textile manufacturing firm called Berkshire Hathaway, assuming its name to create a diversified holding company. In 1978, Charlie Munger joined Buffett and became vice-chairman of the company.
Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970. He has been referred to as the “Oracle” or “Sage” of Omaha by global media outlets. He is noted for his adherence to value investing and for his personal frugality despite his immense wealth. Research published at the University of Oxford characterizes Buffett’s investment methodology as falling within “founder centrism” – defined by a deference to managers with a founder’s mindset, an ethical disposition towards the shareholder collective, and an intense focus on exponential value creation. Essentially, Buffett’s concentrated investments shelter managers from the short-term pressures of the market.
Buffett is a notable philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2009 with Bill Gates, whereby billionaires pledge to give away at least half of their fortunes.
Who is your source of inspiration? How have they changed the way you do things?