Warren Edward Buffett
Warren Edward Buffett had an early experience with the stock market. At the age of 11, Warren bought his first share for $38. Soon afterwards, the price of the stock plummeted. Warren held on to the shares until they reached $43, he then sold them. An important lesson was learned from this transaction, patience. If warren had held on to the stock for a while longer, he could have made hundreds from a share, as it soon surpassed $200.



Born in Omaha, Nebraska on August 30th, 1930, Warren started to experiment with money at an even earlier age. One account has Warren buying six bottles of Coca-Cola for 25 cents and then reselling a bottle for 5 cents. This turned out a profit of 5 cents. Unlike many other children however, Warren saved his money. At seventeen, when he graduated high school, Warren had saved more then five thousand dollars, just from his paper route. After
Graduation, Warren attended the Wharton School of Business


at the University of Pennsylvania. After two years, Warren


transferred out and went to the University of Nebraska-Lincoln.



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While working full time, he graduated the University in three years. After being rejected by Harvard for being “too young”, Warren attended Columbia University. There he met Ben Graham who would change the way Warren looked at businesses. Ben Graham was known to buy low stocks of companies that he believed had great assets and could prove to be successful. Later in life, Warren adapted this concept.
In 1956, Buffett and seven other partners formed


into the Buffett Associates, Ltd. With over $105,000 to


manage, $100 of it his own, Buffett quickly made that



amount triple to $300,000. With the money he had earned, he bought a small house and ran the partnership out of a small office in the house. At this time, Buffett was married to the Susie Thompson, who had born him three children. In five years, the Partnership had over $7 million in
assets. In another five years, the Partnership had


assets in excess of over $44 million. Because of


his shrewd investing, Buffett managed to build a personal wealth of over $6 million dollars. In 1968, after accumulating over $104 in assets, Buffett liquidated the partnership, bringing it to and end.


However, this is not how he made his fortune. After gaining 49% of the common stock on May 10, 1965, Buffett named himself Director. With a little bit of tweaking, Buffett was able to turn the company around and make it profitable. In one instance, Buffett purchased the whole company for $50 a share, costing him $8.6 million dollars. Buffett used Berkshire to buy other companies. In 1971, Buffett was given the chance to buy See’s Candy, a gourmet chocolate maker. Berkshire, under the direction of Buffett bought the company for $25 million dollars in cash. Again in 1976, Buffett realized a good opportunity when he saw one. Geico Insurance had report high losses and its shares plummeted to $2. Berkshire bought much of the shares, and as the turnaround continued, reaped millions in profits. In all this time, Buffett had not sold a single share in Berkshire, and was living on the $50,000 he made a year. This soon changed when he started investing for his personal life in copper futures, making a $3 million profit.


In 1998, Buffett started buying up Coca-Cola stock. His old neighbor, now the President of Coca-Cola, noticed someone was loading up on shares and became concerned. After researching the transactions, he noticed the trades were being placed from the Midwest. He immediately called Buffett. Buffett confessed to being the one who was buying the stock and requested they don\'t speak of it until he was legally required to disclose his holdings at the 5% threshold. Within a few months, Berkshire owned 7% of the company, around $7.2 billion worth of stock.


Through shrewd investing and hard work, Warren Buffett is one of the richest men in the world, and the second richest man in the Nation. Though he is valued at such a high amount, Warren does not give much away to charity, only 1% of his net worth. This may be due to the fact that his