Warren Edward Buffett was born August 30, 1930, in Omaha, Nebraska by Harward Buffett and Leila Stahl Buffett,he was the 2nd of three children and the only boy. Warren as child used to visit his father's stockbrokerage shop and chalked in the stock prices. At 11 years old he made his first investment; he bought three shares of Cities Service Preferred at $38 per share.
The stock quickly dropped to only $27, but Buffett held on tenaciously until they reached $40. He sold his shares at a small profit, but regretted the decision when Cities Service shot up to nearly $200 a share. At the age of 13, Buffett was running his own businesses as a paperboy and selling his own horseracing tip sheet. In 1942 his family moved to Fredricksburg, Virginia. Buffett attended Woodrow Wilson High School during high school, he and a friend purchased a used pinball machine for $25 and they installed it in a barbershop they then purchased another machine using the profits. Buffett then sold the business to a War Veteran for $1,200.
He then went to University of Pennsylvania at the age of 16 to study business after two years, he moved to the University of Nebraska to finish up his degree, and emerged from college at age 20 with nearly $10,000 from his childhood businesses. He then went to Columbia University for his advanced degree. He formed the firm Buffett Partnership in his Omaha after he graduated. He bought undervalued companies whose stocks shortly began to rise, made him extremely rich and gained him the sobriquet, "Oracle of Omaha."
He rescued Salomon Brothers from corporate raiders (1987) and taking charge of the New York City house (1992) in the wake of an insider trading scandal. In June 2006, gave his entire fortune away to charity. He also purchased HJ Heinz with private equity group 3G Capitals for $28 billion, also owns Burger King and a portion of Anheuser-Busch InBev. Buffett is rated No. 15 on Forbes magazine's "World's Most Powerful People. Buffett announced that he is battling prostate cancer. in 1952 Buffett married Susan Thompson. They had three children his wife died in July 2004. In 2006, Warren married Astrid Menks. Buffett is an avid player of bridge and reads five newspapers every day.
Self-confidence * Warren Buffett is very confident in himself when it comes to investing. He makes an investment is not based on a great amount of information but his “highly confident” speculative. He had made three million dollars with his entirely speculation. He has often described he is never worried about his investment as he believes in himself and never has doubt on his ability. One of his famous quotes clearly showed his strong sense of self-confidence, said that “I always knew I was going to be rich. I don't think I ever doubted it for a minute.” Optimistic
* Warren Buffett is optimistic toward his business. His strongly display of optimism is expressed in the annual letter of Berkshire Hathaway; he said that “no matter how serene today may be, tomorrow is always uncertain.” He always sees the market chaos which would probably generate opportunities for him and Berkshire Hathaway. In an interview with CNBC, Buffett said, “You get more excited when there's a lot going on, you can't help it. And frankly, it will probably present more opportunity to us because when dislocations occur..." He believes that he can only live life forward and should not look back. Patience
* In his early childhood, he has gone through an experience that the basic lesson of investing is being patient. He is able to wait for the perfect opportunity to come along, which could take years, before making an investment. He has perused the annual reports from Anheuser-Busch Inc. for 25 years before deciding to buy their stock.
Motivator * Using the Douglas McGregor’s Y theory Warren motivates his employees, this theory is used by enlightened managers which produces better performance and results and allows people to grow and develop.
Learning machine * He reads a tremendous amount and absorbs it. He has great analytical skills, understands people and has great patience and discipline which has been demonstrated by his avoidance of bubble markets. He is more concerned by long term value than short term gains. For example, all those GEICO commercials you see are costly and hurt current profits, but add value to the company as the customer base is built.
Emotional discipline * Warren has the ability to resist the natural human instincts of fear, greed, pride, regret and all the other irrational biases to which people are inherently inclined to succumb. This is showed whenever he hires a person is not about on “who does that person know but based on what the person knows.” Warren doesn’t buy shares because stocks are going up (greed) or sell because they are going down (fear).
Integrity * People trust his word and know he is going to do the right thing even when others aren't watching. Warren stick to his word and always do the right things
By Londeka Sithole