Who was warren buffet? How buffet earns 0$ to 85 billion-dollar?
Biography of Warren Buffett.
The name of warren buffet is known to everyone in the world today, he was considered less than warren buffet and a player of the stock market, the magician of wall street and the king of Berkshire Hathaway. warren buffet was born on 30 august 1930 in Nebraska, Omaha, USA. warren buffet’s father’s name was Howard buffet.
those used to do business in the stock market and their mother’s name was Leela buffet, their mother’s second son was a brother and elder brother. warren attended rose hill elementary school. in 1942 his father was elected to the united states congress party, after which his family shifted to Washington. warren then graduated from 1947 Woodrow Wilson high school, studied at Alice deal junior high school.
How Warren Buffett earned 0$ to 85 billion-dollar
Warren Buffet said that if he could not become a millionaire at the age of 35, Then I will jump from the biggest building in Omaha city. from childhood, warren was very fast in math warren used to sting patterns in everything warren used to give a number of vehicles parked in front of his house and used to lick in a paper in the night and how many times which car used to pass. once, a man was drinking cold drinks from the front of his house warren brought the cold drinks from the machine and stored it for weeks and saw which cold drinks people the most. of them were covered with coca-cola.
After many years, warren had bought shares of coca-cola in his investing carrier due to his knowledge.
The way to earn money by using a weighing machine.
Warren was getting a book in a library when he was 10 years old when he got a book, the title of the book was “1000 ways to earn 1000$” there were many ways in that book, but warren liked one way. you can earn 1000$ by putting a weighing machine. the idea was that with the money that would come from the weighing machine, you would buy another weighing machine from that money and every time you spend second money to buy another weighing machine, then only 10 years warren started calculating how much money a weighing machine could buy will apply. Even warren started calculating that if every person in the world would use my weighing machine, then how much would it benefit.
Warren’s Part-Time job
warren had started selling a lot of things since childhood, such as coca-cola, magazine, and even got up at 4 am and distributed newspapers. warren used to say that the freedom and enjoyment in earning money were nowhere else and I could become my own boss.
Rejected in school
When warren’s father asked to apply at Harvard business school, warren applied but warren was rejected in the interview. warren was very unhappy warren says that perhaps the day was the best day for me because he had a book a few years ago, the name of the book was The Intelligent Investor or book was written by Benjamin Graham.
After the rejection of Harvard University, the prospector of Columbia university saw that Benjamin Graham was lying. then wrote a letter to Benjamin Graham at Columbia University, “dear professor, I thought you were dead, because when you learned that you were alive and living in Columbia university. so I want to join this university “ then he got admission to that university.
Warren says that the day was a very happy day for me, I learned about a lot of investors from warren Benjamin, of which there were two big rules.
- Never lose money
- never forget rule number 1
Warren Learned a very good thing from benjamin. value investing means that you should not buy from the price of the company according to its present market value mind that if the pan is selling at 10 rupees per penny for 20 rupees tomorrow, then you should not buy that pan when the price will go down as if you have 5 rupees then you should buy then you should buy that pan and again if the price of that pan becomes 10 rupees, then sell it and earn profit. and this philosophy warren did buy the shares of big companies.
In 1956 warren opened his own partnership firm at the age of 25, in which he had 7 partners, the maximum partner was from his family. in 1962 he transferred his 1 lakh 5 thousand dollars to 7 million dollars with the help of his partnership converted, of which 1 million dollar warren belonged.
Childhood promise Fulfilled
At the age of 32, warren millionaire had become like warren had said that if I could not become a millionaire at the age of 35, Omaha would jump from the biggest building in the city.
Friends warren took a simple idea of compounding and followed it his entire life and today in 2019 warren buffet has 85 Billion dollars.