Warren Buffett was born in Omaha (Nebraska) in 1930, in the middle of the United States. Interested in the scholarship from the age of 16, Buffett has only worked in the last forty years: investment. In view of the immense fortune thus accumulated, it undoubtedly deserves the place of honor to the pantheon of fund managers!
In 1956, Warren Buffett returned to settle in his hometown, where he has always lived since. He gradually takes control of a textile group listed on the stock market, Berkshire Hathaway. After having straightened it up, he used Berkshire as an investment vehicle: as early as 1967, he acquired a first insurance company, national compensation, then Geico. Insurers will quickly become the main liquidity providers from the portfolio company that Berkshire Hathaway becomes.
Practically unchanged since the start of his career, his investment principles make Buffett a “good father”. He is primarily interested in under-valued companies-listed or not-, profitable, and whose “niche” know-how make them leaders in their respective markets. Regardless of their sector of activity: Buffett is a financier, not an industrialist.
Success was never denied: the value of the assets of Berkshire Hathaway increased on average by 21.1% per year between 1965 and 2007, twice as much as the US stock index S&P 500 over the same period. Today, the Berkshire Hathaway class’ A ‘A’ Action is the most expensive in the New York Stock Exchange: never divided, it has been around $ 123,000 to October 21, limiting its decline since the start of the year to 13%, faced with 33% of the S&P 500. Not to mention its unlisted participations, the Berkshire portfolio currently has less than forty actions. American.
-According to the Forbes ranking in March 2011, Warren Buffett occupies third place of the richest man in the world behind Bill Gates and Carlos Slim, with a fortune estimated at 50 billion dollars.
In 2010, the journalist and economic author, Alice Schroeder, wrote an unprecedented biography of Warren Buffett, entitled the snowball effect. This complete biography of the man known to all as “the Oracle of Omaha” was written with the cooperation of Buffett himself: he devoted thousands of hours and opened his files and his address book in Alice Schroeder, allowing him to contact his wife, children, friends and associates. From all this was born an in-depth analysis of his philosophy of life-probably the most complete report that we will ever have. This work details the principles and ideas that have made the incredible Buffett fortune, but which also enriched the lives (and bank accounts) of those who adopted them. He finally narrates the most fascinating American success story in our era.
This book was selected from the best works of 2010 by The Washington Post, People, The Financial Times, Businessweek, Publishers Weekly and the New York Times.
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