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Warren Buffett Biography

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Warren Buffett Biography

Perhaps one of America’s most well known investors is Warren Buffet due to his unbelievable success and his strategy for investing. Buffett was born in 1930 and through savvy investments Buffett is now ranked the second wealthiest man in the world, only behind Bill Gates, with a fortune of some $40 billion. Buffett’s involvement in the company Berkshire Hathaway opened the gate to Buffet’s amazing success.

Buffett studied at the University of Nebraska and then received a master’s in Economics from Columbia University. Benjamin Graham was one of his professors and a mentor to Buffet although Buffet did challenge many of his ideas. Buffet understood Graham’s theory of buying stocks that were worth more than you paid for them, but he also believed there were stocks that has other types of values they were overlooking that could be incredibly successful investments. As a result, Buffett went to work for himself in his new investment firm named BPL, Buffet Partnership Limited. Buffett followed Graham’s approach and was earning over 30% returns on investments between 1956 and 1969. The normal return was between 7 and 11 percent, so it is obvious Buffett was doing something right.

In 1962 a failing company named Berkshire Hathaway was benefited by the involvement of Buffett. Despite being a textile company Buffett worked in creative ways and it ended up becoming the largest holding company in the world.

Buffet has stated that upon his death the majority of his wealth will go to the Buffet Foundation as he does not believe in passing large fortunes from one generation to the next.