The story of Oracle from Omaha
#Cosmoread: One of most successful investors in the world, American business magnate and investor, Warren Edward Buffett is constantly ranked among the world’s wealthiest people.
Popularly known as the Oracle of Omaha, Buffett has been titled as the most influential people by Time magazine in 2012.
Born in Omaha, Nebraska in 1930, Buffet’s father worked as a stockbroker as well as served as a U.S. congressional representative. His mother, Leila was a homemaker. Buffett was the second of his four siblings and the only boy.
Right from his childhood, he demonstrated excellent financial and business skill. His close friends and acquaintances have said in interviews that as a young boy he was a mathematical genius and could add large columns of numbers in his head. A boy of sheer talent and extreme intelligence, he frequently visited his father’s stockbrokerage shop and listed the stock prices on the blackboard in the office. It is a quite astonishing fact to learn that he made his first investment, buying three shares of Cities Service at the age of 11.
Buffett entered the Wharton School, University of Pennsylvania in 1947. Although he wanted to focus on his business ventures, he enrolled in the university owing to the pressure from his father who wanted him to complete his studies. After studying there for there for two years, Buffett joined the Alpha Sigma Phi Fraternity. Later, he transferred to the University of Nebraska–Lincoln and graduated with Bachelor of Science in Business Administration at the age of nineteen. When he was rejected from the Harvard Business School considering him as too young, he enrolled at the Columbia Business School. He earned a Master in Economics in 1951. Later, he also attended the New York Institute of Finance.
Buffet established the firm named Buffett Partnership Ltd. in Omaha. With the application of techniques that he learned from his professor Benjamin Graham, he was successful in clearly identifying the undervauled companies and became a millionaire.
Buffett announced he would be giving his entire wealth away to charity, 85 percent of it going to the Bill and Melinda Gates Foundation. Undoubtedly, Warren Buffett is an astounding investment guru and one of the most respected businesspersons in the world.