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Saturday, June 23, 2007

WHO is HE ????who can let me know..............


Are he is a poor guy in stock market??
(he is the 2nd richest man in the world)

NAME:Warren Buffett
Age: 75
Fortune: self mad
Source: Berkshire Hathaway
Net Worth: 42.0 bilion us dolar
Country Of Citizenship: United StatesResidence: Omaha, Nebraska, United States, North AmericaIndustry: Investments
Marital Status: widowed, 3 children
University of Nebraska Lincoln, Bachelor of Arts / ScienceColumbia University, Master of Science

    -this is his car NOW

    --->This is his house NOW


Warren Edward Buffett was born August 30th, 1930, at Howard and Leila Buffett, in Omaha, Nebraska. Warren's parents met while working on the school paper at the University of Nebraska, but when Warren, the middle child of the Buffetts' three, was born, Howard was a stockbroker turned US Congressman. A young Buffett was always fascinated by numbers and always had a keen eye for business, as seen in his business ventures as a child; he sold soda pop door-to-door, sold tip sheets for horseracing, worked at his grandfather's grocery store (his family comes from a line of grocers), and impressed his friends by knowing the population of numerous US cities by heart. a billionaire in the makingBy age 11, Buffett had purchased his first stock at his father's brokerage -- three shares of Cities Service Preferred -- at $38 a share.

Even at age 11, he wasn't too young to learn that patience is a virtue, and could have made the

difference between his $5 profit (from selling too early) to hundreds more, after the stock soon rose to $200. Even while a high school student, Buffett was proving to be a born entrepreneur. He had a paper route when his family relocated to Washington, D.C., and even offered two rival papers, in order to have something to offer customers if they canceled one of the subscriptions. Buffett bought 40 acres of Nebraska farmland with his paper route savings at age 14, and collected rent from his tenant. Although he did not particularly care to go to University,

He attended Wharton at the University of Pennsylvania and then transferred to the University of Nebraska, where he became enthralled by Benjamin Graham's "The Intelligent Investor." The book reinforced the importance of value investing and going after undervalued stocks, which is why Buffett shuns the Microsofts and goes for the Coca-Colas, even today. Since he was rejected from Harvard Business School, Buffett studied Economics at New York's Columbia University, to learn from his idol Graham, and eventually become his protégé. Working with Graham as his mentor turned out to be a life-altering decision. What eventually became a billion-dollar fortune started out with his childhood earnings. He used the money earned from his paper route, soda pop and pinball machines to make his first investment partnership; with the money of investors and his own $100, Buffett began purchasing stocks, aiming to beat the Dow Jones Industrial Average by 10% a year.

He did just that, from the start in 1957, until the end of the partnership in 1969. One of his biggest career moves was his investment in Berkshire Hathaway, a textile mill in New Bedford, MA, in 1962. He used Berkshire's capital by investing it in other businesses, amongst them insurance companies (including GEICO). oracle is down-to-earthBuffett, with the millions of dollars Berkshire was making thanks to him, began to fill his portfolio with stocks of solid companies that were undervalued, and inexpensive at the time. By sticking to companies such as American Express and Coca-Cola, companies with solid brand names rather than the latest Wall Street trend, Buffett has become one of the wealthiest men in the United States with a fortune of approximately $36 billion.

But despite being known as the greatest stock market investor of our day, and having the kind of wealth only Bill Gates is familiar with, Buffett lives the kind of down-to-earth life familiar to many. He eats at Dairy Queen, loves Coca-Cola and burgers, still lives in the same house he purchased for $31,000, and doesn't dress like the billionaire he is.

Warren Buffett and his wife Susan have three children, while Buffett lives with his companion Astrid Menks, a waitress. Although it seems confusing, it's perfectly normal to Warren, Susie and Astrid, who are all friends and sign presents from the three of them. Susie divides her time between being a cabaret singer and an abortion activist (Buffett was also active in abortion issues during the '60s), and serving on Berkshire's board as a large shareholder of the company. She still accompanies her husband on public appearances, even though she moved out of Buffett's house in 1977.

In fact, Susie was the one who introduced Astrid to Warren, and the two women remain friends. a buffet of wealthWhile Buffett may be the Oracle of Omaha in all his riches, his generosity has its limits. Not only is he known as a miser when it came to his own children (when he lent his daughter Susie $20 to get her car out of the airport garage, he made her write him a check), but the Buffett Foundation, which mostly serves family planning clinics since the 1960s, is only representative of a crumb of his fortune (about $11-12 million a year). And Susie is the sole heir to his throne, while he wants 99% of his wealth to go to the Buffett Foundation.

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