Warren Buffet is not only one of the richest men..........he had in his own judgment all helped him to amass a fortune.

The self-made millionaire

Warren Buffet is not only one of the richest men in America but also in the world. It is not another rags-to-riches story. Neither is it a story of a man who through a stroke of luck became an overnight billionaire. It is the story of an enterprising man who, through his resilience and resourcefulness, managed to make his money grow and ultimately carve a niche in the business world. Even as a child, Buffet knew the value of money and was preoccupied with the idea of becoming rich. His money-making ventures were many and varied. He left no stone unturned in his endeavors to become rich. In fact, he channeled all his energies into making as much money as he could. Even when he was 5 years old, he set up a stall in front of his house selling chewing gum. Next, he turned to selling lemonade in another part of town. His other business ventures during childhood included selling used golf balls and going door-to-door selling soda pop during summer. As a teenager, he saved as much money as he could. While boys of his age were fascinated by model aircrafts and other electronic toys and gadgets, Warren was interested in the stock market. He closely monitored the prices of shares and at the young age of 11, Warren made his first investment when he purchased $114 worth of shares. Three years later, he invested $1200 in a 40-acre piece of farmland, which he rented out. As a teenager, Buffet was earning $175 a month delivering newspapers to 500 homes. Unlike other boys of his age, Buffet did not work at part-time jobs to supplement the family income or to increase his own pocket money. He worked for only one reason-to save money and this he did. By the age of 21, Buffet had an accumulated savings of $9800. He invested his savings in the stock market. Unlike most other stock investors, Warren did not purchase stocks by mere speculation. He would first do a thorough research of a company's assets and earnings and study the company's prospects of expansion. He would spend hours poring over business manuals and other materials. He would invest when the stock prices nosedived to far below their real value. In other words, Warren would purchase shares when other investors were hesitant. Warren Buffet's first major investment was in New York when he invested the bulk of his savings in the shares of the Government Employees Insurance Company, of which he is now the owner. The ordinary man in the street could not have done it. But Buffet was no ordinary man. He had studied business and finance at the University of Nebraska and, the Columbia Business School. His knowledge in both these fields of study sharpened his business acumen. Buffet scored his biggest coup in Omaha where he set up his very own company, Buffet Associates Ltd. in 1956. Within a span of a few years, Buffet raked in millions of dollars in profits. His independence of mind, ability to focus on his work and the confidence he had in his own judgment all helped him to amass a fortune.

Summary: Warren Buffet became a billionaire because of his resilience and resourcefulness. He is not only one of the richest men in America but also in the world. His moneymaking ventures which started when he was still a young boy, were many and varied and included selling lemonade, used golf balls and soda pop. When he was 11, he invested $114 in shares and three years later, he bought a 40-acre piece of farmland which he rented out. As a teenager, Buffet delivered newspapers and did other part-time jobs to increase his savings. When he was 21, Buffet invested the bulk of his savings in the stock market. He bought shares only when their prices fell sharply and after assessing the company's assets and prospects of expansion. He had studied business and finance and this helped him. A shrewd businessman, Buffet only invested in businesses he was familiar with. The setting up of his own company enabled him to make huge profits.