How Big Is Warren Buffet?
Exhibit|August 2018

THE BEFITTING BUFFETT:The investment industry is incomplete without the story of Mr Warren Edward Buffett. Born on 30th August 1930, Buffett’s journey is nothing less of a movie story. There are many adjectives that come along with his name say business magnate, investor, philanthropist, social worker… the list is never-ending. The Chairman and CEO of Berkshire Hathaway, Buffett till date is considered as the most successful investors of the world. With a net worth of US$84 billion (as of June 3, 2018), is also called the Oracle of Omaha and is the third wealthiest person in the world. So since it’s his birthday month, we decided to delve into his life and take some quotes from his life so far.

THE RISE: Buffett was born in Omaha, Nebraska to Howard and Leila and was an exceptional kid. He was always sure of what he wanted to do with life. Business and investment was something he had in his even as a kid which made him enter the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska at the age of 19. His senior yearbook picture reads: ’likes math; a future stockbroker.’ and we are not shocked. Young Warren used to write stock prices at his father’s office and is even rumoured to have told his friend that if he doesn’t become wasn't a millionaire by age 30, he would jump off of the tallest building in Omaha. At the age of 7, he read a book ‘One Thousand Ways To Make $1000’ which he says was the inspiration behind his ambition. He was just 10-years-old when he visited the New York Stock Exchange for the first time. Soon the next year Buffett bought his first shares from NYSE, three for himself and three for his sister just at the age of 11. And then there was no stopping him.

Buffett did all sorts of jobs, such as selling chewing gum, golf balls, Coca-Cola bottles, and weekly magazines door to door, working in a grocery store and detailing cars, among many others. During high school, Buffet and his friend purchased a second-hand pinball machine and placed it in a local barbershop with an investment of $25. It did not take much time for them to buy several other machines and placed it in three different barber shops across Omaha. Later they sold their business at ww$1,200 in just a year.

ONE MORE INFLUENCING GRAHAM: Benjamin Graham is known as the ‘father of value investing’ and Buffett followed him religiously. Graham used to teach at Columbia Business School of Columbia University where Buffett enrolled for Master of Science in Economics in 1951. After graduating, Buffett attended the New York Institute of Finance. When the GrahamNewman partnership wound up in 1956, Warren used what he had learned to create his own partnerships in Omaha. These partners would one day become early Berkshire Hathaway shareholders.

FIRST PROPERTY AT 15: When we were 15, we had just finished our boards and were still wondering what subject to pursue further, Buffett had purchased his first property. He had saved $2,000 which he used to buy a 40-acre farm in Nebraska. The money he got from farming was used to pay his university bills. Did you know that even after being so hardworking and farsighted since a very young age, Buffett was still rejected by Harvard? But he did not lose hope and matriculated at Columbia Business School for Master of Science in Economics in 1951.

After finishing his degree, Buffett taught investing at the University of Nebraska in Omaha before moving to New York to work with his mentor, Benjamin Graham. Since he was missing his native so much that he moved back to Omaha and bought his own house worth $31,500 and called the ‘decision’ as ‘Buffett’s Folly’.

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