- NAME: Warren Buffett
- OCCUPATION: Entrepreneur
- BIRTH DATE: August 30, 1930 (Age: 83)
- EDUCATION: Woodrow Wilson High School, University of Pennsylvania, University of Nebraska, Columbia University
- PLACE OF BIRTH: Omaha, Nebraska
- Nickname: "Oracle of Omaha"
- Nickname: "Sage of Omaha"
- Full Name: Warren Edward Buffett
- AKA: Warren Buffett
- ZODIAC SIGN: Virgo
Best Known For
Known as the "Oracle of Omaha," Warren Buffett is an investment guru and one of the richest and most respected businessmen in the world.
Warren Buffett - Full Episode (48:40)
In the midst of his extensive annual report, Buffet finds every opportunity for humor-a trend praised by those who need to read it!
Buffett speaks on prejudice and promotional practices.
Warren Buffett may be a billionaire but he is still thrifty. He recounts an incident at a party in which, rather than drink the wine offered by the host, he seizes the moment as a business opportunity.
Warren Buffett is considered by his peers as the preeminent money mover of the 21st century. Now take a look at the life behind the financial wizard in this full Biography episode.
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Businessman and investor Warren Buffett was born on August 30,1930, in Omaha, Nebraska. Investing by age 11, Buffett was running a small business at 13. Buffett later started the firm Buffett Partnership in Omaha, with huge success. In 2006, Buffett announced that he would give his entire fortune away to charity (est. $62 bil.), the largest act of charitable giving in United States history.
"You can't make a baby in a month if you get nine women pregnant."
"My kids are going to carve out their own place in this world, and they know I'm for them whatever they want to do."
"It's a lot easier to buy things sometimes than it is to sell them."
"Rule number one: Never lose money. Rule number two: Never forget rule number one."
"I made my first investment at age 11. I was wasting my life up until then."
"It is impossible to unsign a contract, so do all your thinking before you sign."
"It's easier to stay out of trouble than it is to get out of trouble."
"You should invest like a Catholic marries—for life."
"Wall Street is the only place that people ride to in a Rolls-Royce to get advice from those who take the subway."
"If calculus or algebra were required to be a great investor, I'd have to go back to delivering newspapers."
"Price is what you pay. Value is what you get."
"The dumbest reason in the world to buy a stock is because it's going up."
"Never ask a barber if you need a haircut."
"Risk comes from not knowing what you're doing."
"You couldn't advance in a finance department in this country unless you taught that the world was flat."
"After all, you only find out who is swimming naked when the tide goes out."
"You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right."
"Someone's sitting in the shade today because someone planted a tree a long time ago."
"I feel great... and my energy level is 100 percent."
Businessman and investor. Born Warren Edward Buffett on August 30,1930, in Omaha, Nebraska. Buffett's father Howard worked as stockbroker and served as U.S. Congressman. His mother, Leila Stahl Buffett, was a homemaker. Buffett was the second of three children and the only boy.
Buffett demonstrated a knack for financial and business matters early on in his childhood. Friends and acquaintances have said the young boy was a mathematical prodigy, and was able to add large columns of numbers in his head-a talent he still occasionally shows off to friends and business associates.
Warren often visited his father's stockbrokerage shop as a child, and chalked in the stock prices on the blackboard in the office. At 11 years old he made his first investment; he bought three shares of Cities Service Preferred at $38 per share. The stock quickly dropped to only $27, but Buffett held on tenaciously until they reached $40. He sold his shares at a small profit, but regretted the decision when Cities Service shot up to nearly $200 a share. He later cited this experience as an early lesson in patience in investing.
By the age of 13, Buffett was running his own businesses as a paperboy and selling his own horseracing tip sheet. That same year, he filed his first tax return, claiming his bike as a $35 tax deduction.
In 1942, Buffett's father was elected to the U.S. House of Representatives, and his family moved to Fredricksburg, Virginia, to be closer to the congressman's new post. Buffett attended Woodrow Wilson High School in Washington, D.C., where he continued plotting new ways to make money. During his high school tenure, he and a friend purchased a used pinball machine for $25. They installed it in a Washington, D.C. barbershop and, within a few months, the profits of the machine allowed Buffett and his friend to buy other machines. Buffett owned three machines in three different locations before he sold the business to a War Veteran for $1,200.
Buffett enrolled at the University of Pennsylvania at the age of 16 to study business. He stayed two years, moved to the University of Nebraska to finish up his degree, and emerged from college at age 20 with nearly $10,000 from his childhood businesses.
Buffett attended Columbia University for his advanced degree and in 1956, shortly after graduation, he formed the firm Buffett Partnership in his hometown of Omaha. His investment successes, particularly in buying undervalued companies whose stocks shortly began to rise, made him extremely rich and gained him the sobriquet, "Oracle of Omaha." Other notable career succeses include helping rescue Salomon Brothers from corporate raiders (1987) and taking charge of the New York City house (1992) in the wake of an insider trading scandal.
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They spent their lives amassing millions—sometimes even billions—then promised to give most of it away. Here are a few of the wealthiest one percent who have promised the majority of their fortunes to philanthropies and charitable organizations. Through their example, maybe more moguls will take up the banners of bigger causes.
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