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Warren Buffett
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Along with being the world's greatest living investor, Warren Buffett is an outstanding writer, a generous educator, and a reliable wit. His annual letters to shareholders, replete with investing insights both timely and timeless, nearly always include a number of well-delivered jokes.
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``Warren Buffett is having a field day,'' said Frank Betz, who helps manage $800 million, including Berkshire shares, at Carret Zane Capital Management in Warren, New Jersey. ``He's always looking, but now he's seeing things that meet his standards'' at reduced prices.
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In 1947, a seventeen year old Warren Buffett graduated from High School. It was never his intention to go to college; he had already made $5,000 delivering newspapers (this is equal to $42,610.81 in 2000). His father had other plans, and urged his son to attend the Wharton Business School at the University of Pennsylvania. Buffett stayed two years, complaining that he knew more than his professors. When Howard was defeated in the 1948 Congressional race, Warren returned home to Omaha and transferred to the University of Nebraska-Lincoln. Working full-time, he managed to graduate in only three years.
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The nation's second-richest man, Warren Buffett, has decided to turn over most of his $44 billion fortune to the nation's richest man, Bill Gates. Buffett is committing to give about 10 million Class B shares in his holding company, Berkshire Hathaway, to the $30 billion Bill and Melinda Gates Foundation. (Here's the Gateses' gracious response.) He'll start by handing over 500,000 shares this year (worth about $1.5 billion at today's price), and will make annual donations of smaller numbers of shares. Buffett will ... give billions to foundations run by his children, and to the foundation created by his late wife, Susan Thompson Buffett.
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Oracle of Omaha" due to his Nebraska roots, Warren Buffett is widely regarded as the world's most prominent value investor. Thanks to an ability to spot undervalued companies and purchase them on the cheap, Buffett has made many people very wealthy over the course of his five-decade career. Buffet's 38% stake in Berkshire Hathaway gives him a net worth of more than $32 billion, making him the second-wealthiest man in the world (behind only Bill Gates). one of the very few who has amassed such astonishing riches almost exclusively through stock market investments.
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Money managers like Warren Buffett, George Soros and Richard Aster have consistently beat the market over extended periods of time. Warren Buffett, from 1965-2005, has produced an annual average return of 21.5%, which is double the return of the S&P 500 - including dividends - over the same period of time. George Soros - the man that broke the Bank of England - generated an annual return of 30% through his Quantum Fund from 1970-2000, nearly three times the average return of the S&P 500.
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Warren Buffett