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The Wonderful Success Story of Warren Buffett




Warren Buffett
Warren Buffett (Picture credit: freeimage4life from flickr
Welcome to Youth Motivator. I would like to tell you the inspiring biography of Warren Buffett, the world’s fourth richest man.
His life story provides us with a very good knowledge on topics related to wealth, investment, finance, etc.

In the year 2103 itself, Warren Buffett earned more than 37 million dollars per day.
He is the most successful investor ever.

Introduction-

Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, US.
In his school days, he used to sell newspapers of The Washington Post and stamps from home to home.

He also used to work in his grandfather’s grocery shop. He started working at an age when one would only play.
Warren Buffett saved all his earnings with which he purchased an old pinball machine.

He placed this pinball machine in a crowded place. By this intelligent thought, he earned a handsome profit.

Being self-confident-

From his childhood, he strongly believed in himself that he will definitely become rich. He never doubted this thought even for a single minute.

Taking high risk at just 11 years-

Warren Buffett was greatly inspired by a book by name The Intelligent Investor, authored by Benjamin Graham. He thoroughly read the entire book in his small age.        
This book is one of the best sellers even to this date.

The Intelligent Investor book greatly influenced Warren to invest in the stock market.
Warren Buffett invested his hard-earned money in the high-risk stock market. At this time, his age was just 11 years.
He later sold that share for a little profit.

The biggest lesson in his life-

But Warren Buffett was shocked to learn that the value of the share which he sold increased by over 500 times within a span of few days.

So, then he learnt the biggest lesson in his life. That in order to get success in the stock market one needs to be very patient.
One must also be very calm and must not get disturbed by looking at the ups and downs of the stock market.

Becoming rich at a young age-

He paid his first income tax at the age of 14 years, which explains the earnings of Warren Buffett.
He made 53,000 dollars by the age of 16.

Many lack basic financial knowledge even at the age of 20 years, so one must get inspired by Buffet and invest some of his time in gaining financial knowledge.

Whatever happens, happens for a reason-

Warren Buffett applied to Harvard University at the age of 19 years. But the University rejected his application citing his small age.

So, he joined the Columbia University, by knowing that his role model Benjamin was working as a professor in that University.

In his college days, Warren Buffett used to earn 176 dollars each day. He used to earn much more than his professors.

His best decision ever-

In the year 1962, he bought a majority of shares in a textile company by name, Berkshire Hathaway.
Warren Buffett bought that company for 1000 dollars.
During those times, this company was making huge losses.

At the time when he bought shares in that company, each share costed around 7 dollars. Now, its single share value got increased to 3, 05,480 US dollars.

The shares of Berkshire Hathaway Company are one of the most valuable shares in the stock market because the company shares have not been splitted.
Now, Warren Buffett works as the CEO of Berkshire Hathaway.

Investing in giants-

He also has shares in many major giants like IBM, Phillips, Gillette, Coca-Cola, The Washington Post, etc.
After his success, many used to buy shares in the company in which he used to invest. By this, the share value of that company used to skyrocket.

At those times, many companies which were facing losses used to plead Warren Buffett to save them, by investing in them.

Becoming the world’s richest person-

Warren Buffett became the world’s richest person in the year 2008.
During that year, he dethroned Bill Gates from the title of the richest person. Bill Gates was continually the richest person in the world for 13 long years.

Another important thing to be noted is that, he earned 99 per cent of his wealth after his fifty years of age.
Currently his total net worth is 89.9 billion dollars.

Symbol of simplicity-

Warren Buffett is also known for leading a very simple life.
He does not believe in showing off his wealth. He still lives in the same house, which he bought in the year 1958. His house has no compound (peripheral) walls and even no security.

Also Warren Buffett travels in a second hand car. He himself drives his car; he did not employ a driver.
This explains his down-to-earth nature.

Warren Buffett is also the owner of a big aeroplane company by name NetJets.
Even then, he never used a plane for his personal purposes.
Warren Buffett rarely e-mails. He only e-mailed once to Microsoft Company.

Befriending Bill Gates-

When the Bill Gates first met Warren Buffett, he thought him as just an ordinary person and appointed him just half-an-hour of his time.

But later, he realised the value of Warren Buffett by observing his way of speaking, his knowledge and simplicity. This appointment meeting extended from half-an-hour to a staggering ten hours.
After this meeting, Bill Gates became a big devote of Warren Buffett.

Even to this date, they are continuing their friendship.

Very kind-hearted-

Apart from being a multi-billionaire, he is also a good-hearted person as he pledged to donate 99 per cent of his wealth to non-profit organisations.

Warren Buffett donated 44 billion dollars to the Bill & Melinda Gates Foundation, run by Bill Gates.
He also organises charity lunches. To lunch with him, one needs to participate in an auction. All the money made here is donated to a poverty fighting organisation by name glide.org.

He touches the lives of many people in more than one positive way.

Role model of Barack Obama-

He is the role model of Barack Obama and Warren Buffett is the role model to millions of people all around the world.

He also teaches us many lessons-

Instead of repeatedly repairing the holes in a ship, it is much better to buy a new ship-

It means if your business in continuously making losses, even despite your best efforts. It serves you better to change your business.

Be patient-

He says that one must not take business decisions in haste or must not make emotional decisions in business.
Be patient enough to do a good research and only after performing exhaustive research make investments in a company.

Learn where to invest-

Instead of investing in a product which you like, it would be much better to invest in a company which is run by efficient leaders and management.
Because success lies in the hands of the top-management.
Inefficient management make a worthy product worthless whereas effective leadership will turn an unworthy product into a valuable product.

Invest in right things at the right time-

To get success, invest in good opportunities as early as possible because in such cases sooner is always better than delay.
So, you must make the right decisions in your life, as early as possible.

Have a long term vision-

By having a long term vision, you will gain much more.
Invest your valuable time and money by keeping in mind the long term approach.
Also, compound interest comes into play on making long term investments.

The best investment is very inexpensive and accessible to all-

Yes, you read it right. The best investment one can make is to improve his knowledge.
The reason for his massive success can be attributed to his skill of making investments in sound companies.

He ascribes his knowledge to his habit of reading. He invests 80 per cent of his daily time to read books.
He completes nearly 500 pages in a book on a daily basis.
So, you can attain success and satisfaction in life by reading good blogs, books, etc.

Spend time with people who are better than you-

If one wants to grow in life, he or she must hangout with people who are better than them, as by doing so one can gain from their immense knowledge and experience.
In the initial stages, this thought made him to meet Bill Gates.

So, it is much better to work under more successful people than to become a boss of less successful people.
Even after earning billions of dollars, his way of living a very simple life is inspiration to many.

Thank you very much for reading. Please visit my blog and share the content, follow this blog as I will be updating my blog on a very regular basis with interesting information. And also, subscribe to my blog.

Feedback from readers is highly appreciated; it helps me to deliver better results to you.

Once again thank you for your time

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