Warren Buffet:-
A Simple, Unassuming Man Who Just Happens To Be The World’s Most Successful Investor!
WHEN YOU STEP into the lobby of 1440 Kiewit Plaza, Omaha, a guard quickly approaches you and politely, but firmly, asks if he can help. The reason is that a few floors above are the offices of Berkshire
Hathaway, the US$115 billion dollar company controlled by Warren Buffett. Without an invitation, this is as far as you will get.
With just 15.8 employees (the 0.8 represents a part-timer) Berkshire Hathaway oversees investments in 27 public companies ranging from American Express to Zenith National Insurance. It also has full ownership of 65 private companies ranging from Acme Building Brands to XTRA.
Warren Buffett is acknowledged by investorsaround the world as the world’s best investor.Suppose someone had the good sense to invest $10,000 inone of Buffett’s original partnerships back in 1956 whenthey first started. And suppose that when the partnershipsterminated in 1969, this person reinvested the proceeds inBerkshire Hathaway. Today that person would be worthover $280 million—after all taxes and expenses.
But there is much more to Warren Buffett. His integrity and no-compromise approach to government and business follies has given him an increasingly high profile in the press.
Warren Buffett is a friendly, talkative person who likes to explain his ideas using stories. This is the reason why over 15,000 people crowd into the annual meetings of Berkshire Hathaway in Omaha — to hear him explain his investing ideas using “down-home” yarns.
Despite this easy-going appearance, he is a person of definite action. When he comes across something of value, he acts very quickly.
For example, each year in the annual report he invites owners of companies for sale to contact him. In the report he lists criteria that need to be satisfied by these companies.
He ended with the preference that such businesses lie in the $5-20 billion range.Despite the size of these purchases, for those who contact him he promises “a very fast answer—customarily within 5 minutes” as to whether he is interested. Even when he is interested, the purchase is consumated almost as quickly,
generally with a simple one-to-one meeting. No lawyers, no accountants. Just Warren Buffett and the owner or a principal of the company.
Clearly the ability to act decisively is a key part of Buffett’s success.
Warren Buffett is also questioned frequently about his philosophy regarding inherited wealth. He has made his opinions on the subject public, and has indicated that he worries that too large of an inheritance would make his three children spoiled. While it is uncertain the amount bequeathed to his children, it is known that after Warren and Susie’s deaths, the Buffett’s shares of Berkshire-Hathaway are to be left to the Buffett Foundation and distributed to charitable causes. Perhaps this philosophy stems from Buffett’s own frugality.
Buffett still lives in the Omaha house he purchased for $31,500 in 1958 and refuses to adopt many of the spending patterns often practiced by the very wealthy (excluding, at one point, his purchase of a corporate jet nicknamed The Indispensable).
Overall, Buffett is often described as a simple, unassuming man whose ideas about life are as interesting as his thoughts on business. He pays little attention to appearances, is passionate about his work and family, loves to play bridge, fanatically consumes Cherry Coke, hamburgers and popcorn - and just happens
to be the world’s wealthiest and most successful investor.
I think it is worth remembering what I read some years back!!!
A Simple, Unassuming Man Who Just Happens To Be The World’s Most Successful Investor!
WHEN YOU STEP into the lobby of 1440 Kiewit Plaza, Omaha, a guard quickly approaches you and politely, but firmly, asks if he can help. The reason is that a few floors above are the offices of Berkshire
Hathaway, the US$115 billion dollar company controlled by Warren Buffett. Without an invitation, this is as far as you will get.
With just 15.8 employees (the 0.8 represents a part-timer) Berkshire Hathaway oversees investments in 27 public companies ranging from American Express to Zenith National Insurance. It also has full ownership of 65 private companies ranging from Acme Building Brands to XTRA.
Warren Buffett is acknowledged by investorsaround the world as the world’s best investor.Suppose someone had the good sense to invest $10,000 inone of Buffett’s original partnerships back in 1956 whenthey first started. And suppose that when the partnershipsterminated in 1969, this person reinvested the proceeds inBerkshire Hathaway. Today that person would be worthover $280 million—after all taxes and expenses.
But there is much more to Warren Buffett. His integrity and no-compromise approach to government and business follies has given him an increasingly high profile in the press.
Warren Buffett is a friendly, talkative person who likes to explain his ideas using stories. This is the reason why over 15,000 people crowd into the annual meetings of Berkshire Hathaway in Omaha — to hear him explain his investing ideas using “down-home” yarns.
Despite this easy-going appearance, he is a person of definite action. When he comes across something of value, he acts very quickly.
For example, each year in the annual report he invites owners of companies for sale to contact him. In the report he lists criteria that need to be satisfied by these companies.
He ended with the preference that such businesses lie in the $5-20 billion range.Despite the size of these purchases, for those who contact him he promises “a very fast answer—customarily within 5 minutes” as to whether he is interested. Even when he is interested, the purchase is consumated almost as quickly,
generally with a simple one-to-one meeting. No lawyers, no accountants. Just Warren Buffett and the owner or a principal of the company.
Clearly the ability to act decisively is a key part of Buffett’s success.
Warren Buffett is also questioned frequently about his philosophy regarding inherited wealth. He has made his opinions on the subject public, and has indicated that he worries that too large of an inheritance would make his three children spoiled. While it is uncertain the amount bequeathed to his children, it is known that after Warren and Susie’s deaths, the Buffett’s shares of Berkshire-Hathaway are to be left to the Buffett Foundation and distributed to charitable causes. Perhaps this philosophy stems from Buffett’s own frugality.
Buffett still lives in the Omaha house he purchased for $31,500 in 1958 and refuses to adopt many of the spending patterns often practiced by the very wealthy (excluding, at one point, his purchase of a corporate jet nicknamed The Indispensable).
Overall, Buffett is often described as a simple, unassuming man whose ideas about life are as interesting as his thoughts on business. He pays little attention to appearances, is passionate about his work and family, loves to play bridge, fanatically consumes Cherry Coke, hamburgers and popcorn - and just happens
to be the world’s wealthiest and most successful investor.
I think it is worth remembering what I read some years back!!!
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