Warren buff
Warren buff
Warren Edward Buffett ( Agst 30 ( August 30 ), L930 to Omaha ( Omaha ), Nebraska -born), a US investor ( Investor ), businessman and philanthropist ( Philanthropist 's) personality. They stock market ( Stock Market world) is considered one of the greatest investors that Berkshire Hathaway ( Berkshire Hathaway ) company's Chief Executive Officer ( CEO ) and the largest shareholder( shareholder ). [1] On February 11 , 2008 , the estimated 62 billion [2] US dollars of total assets ( Net Worth) because Forbes ( Forbes ) by the richest man in the world ( Richest Person In The World was judged). [3]
Often called " Oracle of Omaha ," [4] bottomless property ( Wealth despite) Buffett their value investing ( Value Investing ) theory and personal frugality ( Frugality known cause). [5] His 2006 annual salary ( Salary was approximately $ 100,000), which they are senior to other companies remuneration of executives ( Executive Remuneration is much less than). [6] When he $ 9.7 million from the funds of Burke Shire 1989In a commercial airliner ( Business Jet ) were spent to be sent, he jokingly called the " indefensible " was kept, because in the past he had criticized in the context of Swnym other key officials. [7] He still Omaha Central Dundee ( Dundee which they are living in the same house in the neighborhood) in 1958 was purchased for $ 31,500 at that price today is 7 million dollars. [8]
Buffett is also a noted philanthropist. In 2006, he plans to give his fortune to charity was announced, according to which 83% of the Bill & Melinda Gates Foundation ( Bill & Melinda Gates Foundation ) was set to go. [9] In 2007 they Time ( Time in The World) 100 most influential people ( 100 Most Influential People was kept in). [10] He Grinnell College ( Grinnell College also serves as a member of the board of trustees). [11]
Sequence
Early life and Benjamin Graham [ edit ]
Warren Buffett was born in Omaha, Nebraska on August 30, 1930, his parents' name was Howard ( Howard ) and Leela (Stall). Due to being the son of a local stock broker, his stock was confronted at an early age. Benjamin Graham ( Benjamin Graham ) He was an influential adviser. Graham's philosophy to achieve had such an impact on the study directly under him that Columbia Business School ( Columbia Business School joined in). According to Buffett's own words: "I'm 15% Fisher ( Fisher I) and 85% Benjamin Graham." [12]As he often used to say about Graham's education: "To see the stock as a business, to use the market's ups and downs for its benefit and to be safeguarded, all these investments have to be done. The fundamental principles are that Ben Graham taught this to Umka. Even today, the principles of investment will remain the same. [13]
Public stance [ edit ]
Buffett:
- According to him, the number of such consultants was increasing, which do not increase any kind of value and compensation is given only on the basis of how much they have made in the business. For this, they have repeatedly criticized the financial industry. They have pointed to the continuous increase in the share purchase-bench and have shown this evidence that most of the profits of the investors are going in the pocket of brokers and other middlemen.
- In 1998, Harvard ( Harvard ) is he sleeping emphasized the non-productive aspect: "It gets dug out of the ground in Africa, or someplace. Then we will make it melt, another pit digging, put inside and then Some people also give money to protect him, there is no usefulness, if anyone is watching from Mars, then his head will be scratched.
- They announced that in 2006, only 19% of their total income was paid in federal taxes, while their employees paid 33% even after a very low income. [14]
- He believes that the US dollar in the United States in its value lost Bategakunke expensive in the long run increases financial ( Trade Deficit ) deficit is a concern that will devalue the US dollar and other assets. As a result, a large portion of American property is being owned by foreigners. It inspired Buffett to arrive in the foreign exchange market for the first time in 2002. However, in 2005, he made a lot of interest in his stake, because the changing interest rates increased the cost of holding currency contracts. The dollar Buffett bearish ( Bearish round) Brocade will and they are planning to acquire some companies have a substantial portion of their revenue USCome from outside Buffett PetroChina ( PetroChina ) have invested in the Company Limited and First Berkshire Hathaway wrote about it on the company's website [15] That is why it will not recover its investment, despite protests from some activists. (Although he later It had sold its stake, perhaps only for financial reasons.
- He thinks that the world is close to the maximum capacity of its oil production and will gradually decrease this production. [16]
- He thinks that the government should not be in the gambling business. According to them, this is a tax on ignorance. [17]
Buffett's speech is known for his mix of business and humor. Pryek old Buffett Berkshire headed here Hathaway shareholders meeting Quest Center ( Qwest Center ) (which Omaha, Nebraska ( Omaha, Nebraska that is in)). In this meeting, more than 20000 people come from America and abroad, due to which it has been nicknamed "Woodstock of Capitalism". [18]
The annual report and letter prepared by Buffett for shareholders of Burke Shaw often gets covered by the financial media. Writing in the buffet you Bible from Mae West ( Mae West literary quotes) and [19] as well as the advice of Midwestern and many jokes get Jayengekkuc Web sites praised the qualities of Buffett while other methods of their business And reject their investment advice and decisions.
Buffett also:
- She inherited the ( Inheritance Tax in favor of), adding that it removed the same way as "select the Olympic team 2020 2000 Olympics ( 2000 Olympics choose the eldest sons of the gold medal winners)." [20] In 2007, Buffett gave in to testify before the Senate and motivated to keep them secure the estate tax so plutocracy ( Plutocracy to escape). Some critics, including John Berlau, reviewed the August 23, 2004 National ReviewIn this point, it has been pointed out that Buffett has a personal advantage in the continuation of Berkshire Hathaway's taxation as he has benefited from the previous business dealings with the tax and some such insurance Plans are also included in the development and marketing that protect the insurance holders from future taxation payments. [21]
- GAAP ( GAAP ) of the income statement ( Income Statement ) in FASB ( FASB ) L23 (R), or stock option expensing ( Stock Option Expensing has been recognized as the most responsible for it mind). When asked on this topic at the annual meeting in 2004, then he United States Congress ( United States Congress ) and the Securities and Exchange Commission ( Securities And Exchange Commission rejected the FASB by), which issued by the Company to stock-option compensation Used to look at an expense, compare the decision of that bill ( bill) Was of which was introduced in this regard in Parliament Indiana pie ( Pi ) value should be 4 changed from 3.12159.
- 2007-present downturn in the financial sector " poetic justice ( Poetic Justice said)". [22]
- Junior Achievement was incorporated in the US Trade Hall of Fame in 1997.
Historical Timeline [ edit ]
Education :
Employment :
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1943: (13 years old)
- Buffett filed his first income tax statement and gave a loss of 35 dollars for his bike as an expense. [24]
1945: (15 years old)
- High School ( High School ) last year had to Buffett and his partner worked a used $ 25 pinball machine ( Pinball Machine purchased) and put him in a barber shop. In just a few months, they had three machines in different places.
1949: (19 years old)
- In 1949 they Alpha Sigma Phi ( Alpha Sigma Phiwent given a place in the community for), even though they still Wharton Business School ( Wharton Business School ) at the University of Pennsylvania. His father and uncle were also members of the Alpha Sigma Fi community's Nebraska chapter, where finally Warren was sent.
1950: (20 years old
- Buffett applied for admission to Harvard Business School but was refused. [25]
- Buffett Columbia Business School ( Columbia Business School ) enrolled because they knew of Benjamin Graham ( Benjamin Graham ) and David Dodd ( David Dodd ), two well known security analyst ( Securities Analyst ), the reading there.
1951: (21 years old)
- Buffett detected worked to Graham ( Graham ) that GEICO ( GEICO is a member of) the insurance company's board. After reaching Washington by a train on Saturday, he continued knocking on the door of GEICO headquarters until a jamadar allowed him to come in. There he met Lorimer Davidson, Vice President, who were not only profoundly influential but also good friends. [26] They talked about insurance business for four hours. Davidson recalled that after only 15 minutes of discussion, he understood that Buffett is an "extraordinary person".
- Buffett's graduated from Columbia and Wall Street ( Wall Street wanted to work on). Both his father and Ben Graham thought of doing this to him. Buffett proposed to work for Graham free, which he rejected. [25] He bought the Sinclair Texaco Gas Station as a moving investment, but it did not achieve the expected success. Meanwhile, he continued to work as a stockbroker. Meanwhile, Buffett Dale Carnegie ( Dale Carnegie participated in a public speaking course). Using their learned, they got the courage to read a night class, "investment theory". The average age of the reading students was twice that of them.
1952: (22 years old)
- Buffett Susan Thompson ( Susan Thompson married).
1953: (23 years old)
- Susan's first child, Susan Ellis Buffett
1954: (24 years old)
- Benjamin Graham ( Benjamin Graham 's) worked a job offer at the buffet his partnership with a starting salary of $ 12,000 a year. Here they Walter Schloss( Walter Schloss and Lam met with).
- Graham, who was a hard man in terms of working, was convinced that if a balance of the stock and its inherent value is properly balanced, then there is a great scope for security. Buffett's understanding of Graham's demand should be of higher value than his own price. But he also raised the question that if these criteria are not so stringent, then some big winners of qualitative values are exempt from their sight. [25]
- Susan had her second child, Howard Graham Buffett ( Howard Graham Buffett ) K
1956: (26 years old)
- Benjamin Graham ( Benjamin Graham ) have retired and folded up his partnership.
- Buffett's personal savings now exceeds $ 140,000.
- Buffett returned home to Omaha and Buffett Partnership Ltd. The name created an investment partnership by name.
1957: (27 years old)
- Buffett's three partnerships continued for the whole year.
- Buffett bought a five-bedroom plaster house at Fenam Street for $ 31,500.
1958: (28 years old)
- Susan has a third child, Peter Andrew Buffett
- Buffett's five partnerships were going on throughout the year.
1959: (29 years old)
- Buffett's six partnerships were going on for the whole year.
- Buffett , Charlie Munger ( Charlie Munger met).
1960: (30 years old)
- Buffett's seven partnerships were going on throughout the year.
- Those partnerships were: Buffett Associates, Buffett Fund, Maid, MD, Glenoffe, Mo-buff and Underwood.
- Buffett asked one of his partners, who was a doctor, to bring ten more doctors who would be willing to invest $ 10000 in their partnership. Finally 11 doctors got ready for the investment.
1961: (31 years old)
- Buffett disclosed that more than 35% of his stake in the Sanborn Map Company was part of the assets.
- Buffett explained it in 1958, Sanborn was selling $ 45 per share, while his investment was valued at $ 65 per share. This meant that the buyer was considering the value of Sanborn's price "$ 20 less" per share, and he was not prepared to give more than 70 cents a dollar, for an investment in which companies with maps of Adi are trading.
- Buffett revealed that he got a place in the board of Sanborn.
1962: (32 years old
- Buffett became a millionaire because in January 1962, his partnerships were more than $ 71,78500 and $ 1025,000 of them were Buffett.
- Buffett made a partnership with Sadi Partnerships.
- Buffett discovered a garment manufacturing company, Berkshire Hathaway Buffett's partnership started buying his shares at a price of $ 7.6.
1965: (35 years old)
- When starting to buy shares of Berkshire with worked Buffett's partnerships aggressively Then he had to pay the price of 14.86 dollars per share while the company had working capital ( current assets ( Current Asset liabilities of)) the price of $ 19 per The stock was sitting and it was not included in the real estate (factory and equipment etc.).
- Buffett took control of Berkshire Hathaway at the board meeting and announced a new president to run a company, Ken Chase.
1966: (36 years old)
- They stopped taking new capital investment partnerships.
- Buffett wrote in his letter "Until it appears that there has been a change in the circumstances (under some circumstances additional capital can improve the results) or new partners can increase some value rather than just capital investment, I have not intended to take any new partner. "
- In another letter, Buffett announced his first investment in a private business - HOCHSCHILD, KOHN & Co., a privately owned departmental store in Baltimore.
1967: (37 years old)
- Berkshire paid its first and only dividend of 10 cents.
1969: (39 years old)
- After his successful year Buffett finished the partnership and transferred the property to his partners. The property included Berkshire Hathaway's shares.
1970: (40 years old)
- Berkshire Hathaway started the writing of his world-famous papers as the Chairman.
1973: (43 years old)
- Berkshire Washington Post Company ( Washington Post Company began purchasing shares). Buffett's Katherine Graham ( Katharine Graham ), who became the company and used to control its flagship newspaper, went close friends and members of its board of directors.
1974: (44 years old)
- The SEC introduced the formal investigation of Warren Buffett and Berkshire by one of their merger.
1977: (47 years old)
- Berkshire bought the Buffalo Evening News indiscriminately for $ 325 million. Allegations of betrayal
1979: (49 years old)
- Berk shir began buying ABC shares. When the share price was $ 290, Buffett's deposit capital was $ 14 million. However, he only lived on his salary of $ 50000 per year.
- Berkshire started the year at $ 775 per share and finally ended at $ 1,310. Buffett's deposit capital reached $ 62 million. Forbes 400 ( Forbes 400 for the first time his name).
1988: (58 years old)
- Buffett Coca-Cola Company ( Coca-Cola Company bought nearly 7 percent $ 1.02 billion of the company, started buying stocks). One of Berkshire's most attractive investments, which he has kept so far
1990: (60 years old)
- The scandals related to Greenberg and Gutfried appeared.
1999: (69 years old)
- Buffett is named the top money manager of the 20th century, according to a survey by the Carson Group, Peter Lynch ( Peter Lynch ) and John Templeton ( John Templeton also leading). [27]
2002: (72 years old)
- Buffett $ 11 billion worth of forward contracts ( Forward Contract ), in order to provide US dollar against other currencies, entered. By April 2006, their profits on these contracts were more than $ 2 billion.
2004: (73 years old)
- His wife, Susan, died.
2006: (75 years old)
- Buffett announced in June that he will gradually start 85% of his share in Berkshire with five organizations from July 2006 as annual gifts of shares. The largest contribution to the Bill and Melinda Gates Foundation ( Bill And Melinda Gates Foundation will). [28]
2007: (76 years old)
- Buffett announced in a letter to his shareholders that he is looking for a young successor or perhaps successors who can run their investment business. [29] Buffett had chosen Slim Simpson for this role before that which is seen as an investment in GEICO. Although Simpson is only six years younger than him
2008: (77 years old)
- Forbes ( Forbes per) Buffett, Bill Gates , who held the title for thirteen years straight, the location becomes the richest man in the world. [30]
Personal life [ edit ]
Mr. Buffett in 1952, Susan Thompson ( Susan Thompson were married Kikunke three children), Susie, Howard ( Howard ) and Peter ( Peter ) Kl977 than he had begun to be different, however, Susan death in July 2004 Till they remained married and remained married. Her daughter Susie lives in Omaha and works charity by her Susan A. Buffett Institute and is a national board member of Girls, Inc. ( Girls, Inc. )
His 76 birthday, he always unmarried and his longtime partner in 2006 Astrid Menks ( Astrid Menks ), aged 60 years old and that since moving to San Francisco in 1977. His wife was living with him, Got married [31] Interestingly, both of them had met Susan Buffett, before going to Omaha to make her own future in music. The three were very close and the friends would have written on the invitation sent for the holiday. "Warren, Susie and Astrid" ( : Roger Lowenstein ( Roger Lowenstein ) that book Buffett: the Making of an American capitalist ) Ksusan Buffett about this relationship briefly before his death Charlie Rose show (Charlie Rose Show in an interview, it was a rare glimpse of Buffett's personal life. [32]
The Bridge ( Bridge are an avid player) (a card game) and adding spend playing the game 12 hours a week. [33] He often Bill Gates and Paul Allen ( Paul Allen to play with).
In 2006, for the Buffett Cup they had the purpose of a bridge match. The event, which of Golf ( Golf ) The Ryder Cup ( Ryder Cup was held in line with) (and held it was in just before the same city), a team of 12 players the bridge Europe 's Contains 12 players.
In 2006, they made their 2001 Lincoln Town car [34] auctioned on eBay, to raise money for Girls Inc. [35]
He is working on an animated series with nowadays Christopher Weber, DiC Entertainment ( DiC Entertainment ) chief Andy Heyward ( Andy Heyward ) mill with the annual meeting of Berkshire by Karkbfet Mi 6 ( May 6 ), 2006 has been According to the information, this series will be character of Buffett and Munger and they will teach healthy financial habits for the children throughout life. Cartoons of Bafet and Munger should be shown during the whole weekend. Sector remained as the meeting starts at animation by special cinema Hayward before.
In 2006. These are not Mr. Buffett's cell phone was reported, there is no computer on his desk and that his car, [36] Cadillac DTS ( Cadillac DTS run), Swnym. [37]
Shows Buffett's DNA report that his paternal ancestors North Skandinaviea ( Scandinavia ) from the hail, while the common roots of his mother Iberia ( Iberia ) or Estonia . [38]
Charity [ edit ]
In June 2006, Buffett million Berkshire Hathaway ( Berkshire Hathaway shares of B class) (worth approximately 30.7 billion US dollars as of June 23, 2006) [39] Bill & Melinda Gates Foundation ( Bill & Melinda Gates Foundation to) Were given. It became the largest charitable donation in history. Beginning in 2006, the institution will receive 5% of the total donation annually on July every year, will also become a member of the Board of Directors of Buffett Gates, although they have no intention of directly joining the institution's investments.
Warren Buffett and Bill Gates both Planned Parenthood ( Planned Parenthood are enthusiastic supporters), a non-profit organization, and it receives financial support from Buffett and Bill and Melinda Gates Foundation. Planned parenthood alone makes up about 20% of miscarriages in the US. Plant Parenthood receives nearly three thirds of his money from government grants and contracts ($ 33.67 million in 2007) and the remaining clinic income and donations from Warren Buffett, such as wealthy individuals. [40] [41] [42]
He and his plan also announced that they stock of Berkshire's roughly $ 6.7 billion to the Susan Thompson Buffett Foundation ( Susan Thompson Buffett Foundationwill also) and other foundations headed by his three children. Them of their assets from previous statements that there was a noticeable change, which he had said Buffett Foundation ( Buffett Foundation majority of) resources to Jayegikunki wife, valued at $ 2.6 billion, died in 2004 After that went to the same institution. [43]
Their children will not be able to inherit a large part of their property.Their steps are in line with the views of their former ones in which they opposed the transfer of property from one generation to another. Buffett once remarked, "I want to give my children in adequate amount so that they can do anything they want, but do not want to do too much that they get niggardly" [44]
Their statements of 1988, respectively, show their thoughts about their property and why they had planned for a long time to share that:
"I do not have a problem of guilt regarding money" I am that my money represents a huge number of claims on the society, as well as the way it is seen. It is just like I have small pieces of paper Which I can change in consumption. If I want to keep 10000 people on the job, do nothing else, only make my picture. And GNP will go up again but its utility is something I will not be able to stop those 10000 people from doing other necessary tasks such as AIDS research, or teaching, or nursing. Though I do not do that. I do not use that many claims. Not a worldly thing that I want to get too much. And I will almost leave all those claims checks for my donation after the death of my wife. (Lowe 1997: 165-166)
Jun 27 , 2008, Zhao Denyang, which "Pure Heart China Growth Investment Fund," the general manager, worked the 2008 5-day online "lunch" called with Warren Buffett Ebay ( EBay charity's) auction ( Auction on) Won with the highest bid of $ 210100. Zhao's 76-year-old Buffett with New York's Smith & Wolinsky ( Smith & Wollensky was eating the right) Strykhous, he can invite up to 7 companions for the Nijibhoj and can ask Buffett anything at all, except What are they buying for it? With money from the auction to San Francisco ( San Francisco ) Glide Foundation (Glide Foundation benefits. 2007 mohnish Pbrai ( Mohnish Pabrai worked) the night may eat with Buffett. [45] [46]
Buffett 512,169 "B" class shares of Berkshire to the Bill & Melinda Gates Foundation ( ( Bill & Melinda Gates Foundation donated) 451,250 shares) and two other Prmarthrt institutions. At $ 3,999, their total value is $ 2.05 billion. [47] [48]
Buffett Dow Chemical ( Dow Chemical ) their Rohm & Haas ( Rohm & Haas helped the $ 18.8 billion required for the acquisition). Thus she Berkshire Hathaway ( Berkshire Hathaway 's), which saw were offered $ 3 billion, the largest group of these highlight their important Bhuka during the current crisis the largest share-holder became in debt and equity markets. [49]
Writing [ edit ]
Warren Buffett's writings include his annual reports and various articles Lekkapane T He Superinvestors Of Graham-And-Doddsville ( The Superinvestors Of Graham-And-Doddsville ) in Buffett market, according to which, the educational situation perfectly OK and S & P ( S & P 500 has) to defeat a "flash in the pan only", criticized and referred to several members of Graham and Dodd's value follows principles of intensive investment. Apart from Buffett, Walter J. Slus, Tom Knapp, Ed Anderson (Tweedy, Brown Inc.), Bill Ruane (Sequoia Fund, Inc), Charles Munger ( Charles Munger ), Rick Guerin (Pacific Partners, Ltd.) and Stan Perlmeter (Perlmeter investment), is mentioned Who beat the S & P500 "year by year".
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