I’ve read about Warren Buffett many times in my life – in books, magazines and other personal finance and investing blogs.
Recently, I received an email which tells some pretty interesting and notable aspects of his life.
It was something I already read a few years back but its lessons never grew old on me. That’s why I’m sharing them with you now, hoping that you too, can get some inspiration from it.
And just in case you don’t know who Warren Buffett is – well, he’s one of the richest persons in the world; a consistent name on the Forbes Billionaires list and someone that many consider as the best investor of all time.
But for me, what makes him most admirable is that he’s a self-made man; and he achieved that through his value investing philosophy and personal frugality.
Ten Interesting Stories About Warren Buffett
- He was only 11 years old when he bought his first stock market share, CITGO Petroleum Corporation. And now, he regrets that he started too late!
- He bought a small farm at age 14, using his own savings from delivering newspapers.
- Currently, despite his wealth, he still lives in the same small 3-bedroom house in mid-town Omaha, Nebraska. It was the house where he got married 50 years ago. He says that everything he needs is in that house, so why live anywhere else. Interestingly, his house does not have a wall nor a fence.
- He drives his own car everywhere and does not have a driver nor security people around him.
- He never travels by private jet, although he owns the world’s largest private jet company.
- His company, Berkshire Hathaway, owns 63 companies. It’s been reported that he writes only one letter each year to the CEOs of these companies containing the goals he wants them to accomplish for the year. An unconventional boss – he doesn’t holds meetings nor calls them on a regular basis.
- He has given his CEOs only two rules:
- Rule number 1: Do not lose any of your shareholder’s money.
- Rule number 2: Do not forget rule number 1.
Advice From Warren Buffett For The Youth:
- Stay away from credit cards and invest in yourself.
- Live your life as simple as you are.
- Don’t do what others say, just listen to them, but do what you feel good.
- Don’t go on brand name; just wear those things in which you feel comfortable.
- Don’t waste your money on unnecessary things; just spend it on what you really need.
- Don’t give others a chance to rule your life, it’s yours to live after all.
The HAPPIEST people DO NOT necessarily have the ‘BEST’ THINGS. They simply APPRECIATE the things they have. – Warren Buffett
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Photo credit: Mark Hirschey