Warren Buffett's Biography :

The story of the billionaire Chairman of Berkshire Hathaway : 

Warren Edward Buffett was born on August 30, 1930. born to his mother Leila and father Howard, a stockbroker, who was a member of congress. The second in order of seniority, he had two sisters, and at a very early age showed a great love for money, as well as in the business world. Friends talking about it, his uncanny ability to calculate columns of numbers, from head to toe—and a trick that's Warren continues to surprise with his colleagues in the company. 

While other kids of his age, and played for classes, and jacks, Warren's money. A mere six years old, Buffett purchased the six-packs on his grandfather's Coca-Cola, mineral wool, 25 cents and resold each of the bottles for the five cent coin, pick pocketing, a 5-cent profit. Five years later, Buffett took his first steps into the world of high finance. 

At the age of ten, he purchased three of the preference shares of Cities Service, at $ 38 a share for himself and his older sister, Doris. A short time after the acquisition, the stock has fallen to just over $ 27 per share in cash. Scary, but very durable, Warren, was held in its inventory until it is sharp, up to $ 40. He was soon made a mistake he'll soon regret it. The web site of the city skyrocketed to a total of $ 200. This experience has taught him to be one of the most important lessons of investing: Patience is a virtue. 

Education : 

In 1947, Warren Buffett graduated from high school when he was 17-years-old. He has never had the intention to go to college. His father had other plans for him, and he tried to convince his son to go to university. The university of Pennsylvania's School of Business. 

Buffett was only there for two years, complaining that he knew more than his professors. Go back to Omaha and transferred to the University of Nebraska-Lincoln. Even though he was working full-time, but he knew he had only a three-year period. 

Buffett approached graduate school, with the same resistance as he did a few years ago. Ultimately, to persuade him to apply to Harvard Business School, which he dismissed as "too young."" Warren-and then applied to Columbia University, where prominent investors Ben Graham and David Dodd taught-an experience that will change his life forever. 

Coach Graham : 

Ben Graham was famous in the 1920s. At a time when the rest of the world was near to invest like a giant game of roulette, We had to look at the actions that were so cheap they are almost entirely risk-free. One of the most well-known projects of the Northern Pipeline Company, an oil transport company, owned and run by the Rockefellers. 

The stock was worth around $ 65 a share, but when I check on the balance sheet accordingly, We have realized that the company had a bond in the amount of $ 95 per share in cash. The value investor was trying to convince management to sell the portfolio, but they refused to do. Soon afterwards, he started a proxy war, and be assured of a seat in the board of directors. The company sold the bonds and paid a dividend of $ 70 per share in cash. 

When he was 40-years-old, She published a Securities Analysis, it is one of the most famous of the papers ever written on the stock exchange. It was risky at the time. The Dow Jones Industrial Average has fallen from a height of 381 in September of 1929, an all-time low of 41.22 in the summer of 1932. At the same time, We have the principle of "intrinsic" value is a measure of the fair value of a company is entirely depends on the company's share price. 

With the help of the net asset value, investors were able to determine how much a company is worth, and, as a result, the making of investment decisions. His most recent book, The Intelligent Investor, which Buffett called it "the greatest book on investing ever written," they introduced the world to Mr. Market-in the same asset class.

With its simple yet deep down, investment strategies, Ben Graham, it is a good sign for a twenty-one-year-old Warren Buffett. The reading of the old editions of who's who, Warren said that his mentor was the president of a small, unknown insurance company, on behalf of GEIKO. On a Saturday morning, I took the train down to Washington to find the main office. When he got there, the door was locked. Not ready to quit, Buffett, beat relentlessly on the door, until the janitor came in to get it to open in front of him. I asked if there was anyone in the building. 

Fortunately (or fate), it was. It turns out that the man was on the top floor. Warren was taken to see him, and he immediately began to ask questions about the company, its operations and practices, and the conversation lasted for four hours. It was none other than Lorimer Davidson, the finance vice-president. This is the experience that will stay with Buffett for the rest of her life. Eventually, he gained the whole of the GEICO company Berkshire Hathaway company. 

During his time at Columbia, Buffett was the only student to earn an A+ in one of Graham's classes. However, both Graham and Buffett's father had advised him not to work on Wall Street after graduation. 

To be absolutely sure, Buffett offered to work for Graham, partnership, free of charge. Ben refused to accept him. He chose to work for the Jewish workers who were not employed by, other companies, including those from time to time. Warren was a feeling of despair. 

Returns : 

Buffett returned to the house, he took a job at his father's brokerage house, and went out with a girl named Susie Thompson. In the end, the relationship became serious, and in April 1952, they were married. We rented a two-bedroom apartment for $ 65 per month, a young couple share them with the mouse in the family. In order to save you money, they are made with a box-spring bed in front of her. 

In the early years, Buffett's investments have been primarily limited to the Texaco station and a specific property or real estate, but they were not very effective. He also began teaching evening classes at the University of Omaha. 

One day, he gets a call and is invited to a young stockbroker working for him. Buffett has finally made a long-awaited opportunity. 

To work for Ben Graham : 

Warren and Susie moved to a house in a suburb of the city of New York. Buffett spent his days in the analysis on S&P's report, on the lookout for investment opportunities. It was at this time that the difference between Graham and Buffett's philosophy began to emerge. 

Buffett became interested in how it works, what makes it better than the competition. We just wanted to say that the songs, while Warren was more interested in the management of the company as well as the most important factor in making an investment decision. She was in the balance sheet and the profit and loss account; and he did not care about the code on corporate governance. 

Between 1950 and 1956, Buffett increased his own personal net worth of $ 140,000 to $ 9,800. Out of this struggle of the box and once again turned her gaze to Omaha, and he began to plan his next move. 

On May 1, 1956, Warren Buffett rounded up seven of the limited partners, including the sister of Doris and Aunt, Alice, and raised $ 105,000. He had invested $ 100 in the creation of the Buffett Associates, Ltd. In 1957, he managed, with a net worth of $ 300,000. 

Buffett bought the house for $ 31,500, affectionately known as "Buffett's Madness," and the run is a partnership, the first of the home, the bedroom, and a small office. Until then, his life has begun to take shape. He had three kids, a beautiful wife and a successful business.

Prior to 1962, the company, the authorised share capital of more than $ 7.2 million, of which $ 1 million was to personal property of the Buffet. He does not suffer from a partnership of cost, was entitled to one-fourth of the profits in excess of 4%. 

He's had more than 90 limited partners of the United States of america. In a bold move, he consolidated companies, in company with the name of Buffett Partnership, Ltd. increase in the minimum investment is $ 100,000, and opened an office in Kiewit Plaza at Farnam Street. 

In 1962, as a fellow by the name of Charlie Munger returned to California, to his parents ' home in Omaha. In spite of some of the snobbery, Munger, was a brilliant, in every sense of the word. It went on to Harvard Law School without a bachelor's degree. Introduced by mutual friends, Buffett, and Munger to be directly related, so the roots of the friendship and co-operation which was to last for the next forty years. 

Ten years after its foundation, the Buffett family's assets are more than 1,156%, compared with the Dow's 122.9%. It is acting as the master of the assets, which grew to $ 44 million, Buffett and Susie are personally invested $ 6,849,936. 

Fair enough, it was when he was well established and successful, Buffett closed the partnership to new accounts. As the Vietnam War continued to be at full strength, and on the other side of the world, and the market is moving up, those who were not there during the great Depression. The co-operation was the biggest military coup in 1968, and the inclusion of any 59.0% increase in value, and catapults, and more than $ 104 million in ASSETS. 

The following year, Buffett was about much more than just closing the fund to new accounts, and he wound up a partnership. In May 1969, Buffett told his partners that he has "not been able to find of all the transactions in this market." Buffett spent the rest of the utilization of any of the portfolios, with the exception of the two businesses, in the Uk, and Diverse Retail outlets. 

Berkshire shares have been distributed among the partners, with a letter from Buffett to inform them that he would take part in the business in some way, but he did not have any future obligations to them. He did not disclose his intentions to keep his stake in the company.

Control of Berkshire Hathaway : 

Buffett's role at Berkshire Hathaway was founded a few years ago. On May 10, 1965, in the collection of the 49% of the shares, he declared himself as the president. Scary to management led to the fact that the company nearly fell into decline, and he was convinced that with a little correction, he was able to better manage it. 

The lord immediately by the name of Ken Chase, president of the company, to give you complete autonomy over the organization. Even though he refused to grant stock options, on the grounds that it isn't fair to the shareholders, Buffett agreed to sign an $ 18,000 loan for the next president to purchase 1,000 shares of the company. 

Two years later, in 1967, Warren was invited by the founder and majority owner of National Indemnity, Jack and Instagram, according to his office. When asked how much he thinks the company is worth, Ringwalt, said Buffett, the company's worth at least us $ 50 per share, which is $ 17, compared to the then current market price of $ 33. 

Buffett offered to buy the company as a whole, on the place of the move it will cost him $ 8.6 million. In the same year, the Uk paid a dividend of 10 cents on the shares. It wasn't that it was over, Warren said, "it must have been for him in the bathroom, and when the dividend is declared.

In 1970, Buffett called the chairman of Berkshire Hathaway, and he wrote a letter to the shareholders, and for the first time. (In the past, this work was carried out to Know the Chase.) In the same year, the president of the allocation of capital, and began to be proof of his prudence. 

The textile is made from a measly $ 45,000 in profit, while the insurance and banking businesses, brought in $ 2.1 and $ 2.6 million more. But in vain, for the produce of the world, we see it in New Bedford, Massachusetts, on the condition that the capital that is needed in order to begin to build Berkshire Hathaway into what's going on. 

About a year ago, Buffett offered to buy it from a company called See's Candy. Gourmet chocolate manufacturer, was sold to its customers, and candy brands that have a premium compared to those of the conventional products. The balance sheet is a representation of what Californians already had was more than willing to pay a little more for a unique taste, and See. 

The business has decided that the Uk was prepared to buy the company for $ 25 million in cash. The owners of the See was held for a $ 30 million, but it quickly disappeared. It was the biggest investment I've ever made by the Berkshire or Buffett. 

After a couple of investments, and an SEC investigation of the Buffet, I began to notice that the value of the net Berkshire Hathaway was growing. From 1965 to 1975, the company's book value has increased from $ 20 a share of around 95. It was during this time that Warren has made his last purchase from Uk stock. (If the partnership distributed the shares, c is the property and 29% of them.) 

In later years, he also has an annual budget of more than $ 15.4 million in the company at an average cost of $ 32.45 per share. ), So that he had more than 43% of the shares, and Susie-by 3%. His entire fortune had been placed in the Uk. No personal items, the company, the investment vehicle.

In 1976, Buffett will be contacted GEICO and again. Recently, the company reported unexpectedly high losses, and the stock went down to $2 per share. He knows, intellectually, that the core was still intact, and most of the problems were due to an incompetent management team. 

In the next few years, the Uk has strengthened its position in the including the sick, the insurance company and the millions of people in the win. Graham, who is still in the possession of his status with the company, died in September of that year, shortly before the turn. After a number of years, the insurance giant, was a wholly owned subsidiary of Berkshire. 

Changes to Warren Buffett's Personal Life : 

Soon after, he became one of the most profound and disturbing events in Buffett's life. In spite of the fact that a man, a humanitarian, and a singer, he's got an apartment in San Francisco, california, in spite of the fact that he wanted to live on their own, and moved there. 

Warren was completely desolate; of all Susie's life was "the sun and the rain, [and] grounds." They were very close, we talked to each other every day, an annual two-week trip to New York city to meet with the kids, California vacation rental by the sea in time for Christmas get-togethers. 

The transition was difficult for Warren, but eventually he got used to the new order, for a little bit. Susie, a lot of women in the Omaha area, and they wanted to have dinner and watch a movie with her husband; after all, she and Warren are back with Astrid Menks, and the waitress. A year later, Astrid, and move, all of Susie's blessing. 

Up until the late 1970's, the rumour is that the Buffet was the purchase of a stock, you still have to push up the price by 10%. Berkshire Hathaway's shares traded at over $ 290 per share, and Buffett's personal net worth of nearly $ 140 million. The irony of it was that he had never sold a single share of a company, which meant that all the money in the $ 50,000 he received it. 

Warren began to invest in his personal life. According to Roger Lowenstein's book Buffett, Warren was a lot of speculation, with its own investments than the Uk's. At one point, I was bought by the buyer futures contracts, which were pure speculation. In a short period of time, he managed to score three million dollars. When a friend suggested that he invest in real estate, " he said, "Why should I buy real estate when the market is so easy?" 

Berkshire Hathaway Announced The Newest Member Of The Programme : 

Later, Buffett once again showed his tendency to resist popular culture and trends. In 1981, the Uk announced that a new love in the plan, which Mangere came up with, and approved by the Buffet. He has called on shareholders to identify charities that would receive $ 2 for each of the Uk, part-owned by the shareholder. 

This initiative was a response to the common practice on Wall Street, and the choice of the director, who received the information about the company's materials are used. (That is, they often went to schools, places of worship, and the executive agencies.) The plan was a great success, and over the past few years, the amount of each share is increasing. In the end, the Uk spent millions of dollars each year for its own purposes. 

The program was eventually discontinued after the partners, one of Berkshire's subsidiaries, the Pampered Chef, have experienced discrimination due to a controversial pro-choice charities that Buffett decided to highlight as a pro-choice section of the plan. 

Another important event of this period was a record level of share prices, which in 1982 was $ 750 per share. Make the most of the earnings attributable to Berkshire stock portfolio is valued at more than $ 1.3 billion.

Important Additions : 

In spite of all the good businesses that Berkshire's managed to put together one of the best, then it has to fall under its stable. In 1983, Warren Buffett went to Nebraska Furniture Mart, a multimillion-dollar furniture retailer from scratch by Rosa Blumpkin. The address of Mrs. B., as the locals called it, Buffett asked her if she would be interested in the sale of Berkshire Hathaway's app store. 

Instagram's response was a simple "Yes"), in which she also added that she would share it with her to the company for $ 60 million." The transaction, which was confirmed by a handshake and a one-page contract was drawn up. Emigrant from Russia, and received a check for a couple of days later, just empty, without looking at it. 

The Scott & Fetzer is a great addition to the Berkshire family. The company was the target of a hostile takeover, if it Ralph Shay, chairman of the board, has been launched LBO. 

Vacuum cleaner is the creator of Kirby and the World book encyclopedia, S&F, in a state of panic. Buffett, who is in possession of a quarter of a million shares, as a matter of urgency, a post from the company that you have requested for him to call you if you were interested in a merger. The phone rang almost immediately. The uk is offered for $ 60 per share, in the cold, hard, cash. 

When the deal was completed in less than a week, Berkshire Hathaway added a new $ 315 million in power generation as part of his collection. The small stream of money, which was cut off from the world, the factory is built, which is one of the most powerful companies in the world. A lot of the more spectacular things to happen in the next ten years or so. In the 1990's, Berkshire's stock price surged from $ 8,000 to $ 80,000. 

In 1986, Buffett bought a second-hand Falcon jet for $ 850,000. As it became more and more recognisable, and it was not comfortable flying commercially. It was very difficult to come to terms with the idea of the sea, but he was fond of the aircraft to be used. His love and passion for the aircraft has led, in part, the purchase of an Executive Jet in the 1990s. 

The 1980s saw a sustained increase in the value of the Uk, as well as a signal, the one and only place on the road, it was the collapse since 1987. Warren, who wasn't upset, that it was for the market to correct, in a quiet and controlled company in the price, and went back to work. This was a reflection of what he was looking at the stocks and business in general. This was one of the temporal variations in the Market. Warren continued, unperturbed.

Buffett and the Coca-Cola company : 

A year later, in 1988, and began to Buffet with the purchase of a considerable amount of Coca-Cola stock. His old neighbour, who later became the president of Coca-Cola ,however, he found that someone was in the collection of the shares, and they delivered. After the transaction, I noticed that the transactions have been made in the Midwest.