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Warren Buffett: Stocks
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Call it revenge of the rumor mongers: So far this year, Warren Buffett has been wrongly named as an acquirer seven times. In five of those instances, the stocks are now lower, with all but one down considerably.
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Warren Edward Buffett was born on August 30, 1930 to his father Howard, a stockbroker-turned-Congressman. The only boy, he was the second of three children, and displayed an amazing aptitude for both money and business at a very early age. Acquaintances recount his uncanny ability to calculate columns of numbers off the top of his head - a feat Warren still amazes business colleagues with today.
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Back home in Omaha, Buffett used $1,200 saved from his paper routes to buy 40 acres of land, which he leased out to a farmer. He ... developed a keen interest in horse racing. The statistics involved with weights, speed ratings, pace, past performance, and breeding variables intrigued him. He formed a partnership with a friend to print the "Stable Boy's Tip Sheet," sold at Ak-Sar-Ben racetrack. He and a partner also went into the pinball machine business, which generated a nice profit. His first venture into the stock market was at the age of 11, when he bought three shares each of Cities Service stock for his sister and himself at $38 and saw it drop to $27 and then climb to $40, at which point he sold, garnering a profit after costs of $5.
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Warren Edward Buffett was born August 30th, 1930, to 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.
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[T]he source of Buffett's influence is found in his nickname: the "Sage of Omaha." CEOs - and athletes, obviously, including LeBron James - venture to Nebraska to consult him. And people everywhere listen to his pronouncements on things like managed earnings (against), stock option expensing (for), and the U.S. dollar (pessimistic).
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Buffett graduated from Columbia and wanted to work on Wall Street. Buffett offered to work for Graham for free but Graham refused. He purchased a Sinclair gas station as a side investment, but that venture did not work out as well as he had hoped. Meanwhile, he worked as a stockbroker. During that time, Buffett ... took a Dale Carnegie public speaking course. Using what he learned, he felt confident enough to teach a night class at the University of Nebraska, "Investment Principles."
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