How did Warren Buffett become rich?
How did Warren Buffett become rich? Thanks for answering!!!!
- Anonymous9 years agoFavorite Answer
this is just an extract from wiki but whatever you want to know its ALL on there -
Even as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola, or weekly magazines. For a while, he worked in his grandfather's grocery store. While still in high school he was successful in making money by delivering newspapers, selling golfballs and stamps, and detailing cars, among other means. Filing his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route. In 1945, in his sophomore year of high school, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in different barber shops.
Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company. On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange. At the age of 11, he bought three shares of Cities Service Preferred for himself, and three for his sister. While in high school he invested in a business owned by his father and bought a farm worked by a tenant farmer. By the time he finished college, Buffett had accumulated more than $90,000 in savings measured in 2009 dollars.
Buffett entered college as a freshmen in 1947 at the Wharton Business School of the University of Pennsylvania and studied there for two years from 1947 to 1949. In the year 1950, when he entered his junior year, he transferred to the University of Nebraska–Lincoln where at the age of nineteen, he graduated with a degree of Bachelor of Science in Business Administration. After the completion of his undergraduate studies, Buffett enrolled at Columbia Business School after learning that Benjamin Graham (author of "The Intelligent Investor" – one of his favorite books on investing) and David Dodd, two well-known securities analysts, taught there. He received a M.S. in Economics from Columbia Business School in 1951. Buffett also attended the New York Institute of Finance. In Buffett’s own words: " I’m 15 percent Fisher and 85 percent Benjamin Graham.
The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That’s what Ben Graham taught us. A hundred years from now they will still be the cornerstones of investing."Source(s): http://en.wikipedia.org/wiki/Warren_Buffett
- Anonymous3 years ago
1Source(s): Raise your vibration today http://renditl.info/LawofAttractionGuide
- 9 years ago
Warren Buffet became rich by investing in stocks, primarily in companies under 'value', known as value investing.
lets say Apple drops to $300 from its $400 highs, Warren would buy at $300 and Hold until it hit $400 again. In contrast, growth investing is buying apple at $400 thinking it is worth $500 because of its historical growth as a company.
- Anonymous9 years ago
Value investing in the style of Benjamin Graham. In my opinion, much of his approach is outdated today but that does not compromise his status as one of the greatest investors who has ever lived.Source(s): Investing since 1987
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- 9 years ago
A combination of exceptional intelligence, hard work, luck and discipline.