Warren Buffet, the second richest man in the globe who has donated some $31 billion for charity. I think he is real legend in humanity too.
I wish to light on some interesting aspects on his life. You can read much more in between the lines…
He bought his first share at age 11 and he regrets now that he was too late! He remembers, things were very cheap at that time.
He bought a small farm at age of 14 with savings he accumulated from delivering news papers.
He still lives in the same small 3 bedroom house in mid town Omaha that he bought after he got married some 50 years ago. He says, he has everything he needs in that house as a human being. The house does not have a compound wall or fence.
I wish to light on some interesting aspects on his life. You can read much more in between the lines…
He bought his first share at age 11 and he regrets now that he was too late! He remembers, things were very cheap at that time.
He bought a small farm at age of 14 with savings he accumulated from delivering news papers.
He still lives in the same small 3 bedroom house in mid town Omaha that he bought after he got married some 50 years ago. He says, he has everything he needs in that house as a human being. The house does not have a compound wall or fence.
He drives his car himself everywhere and does not have a driver or security people around him.
He never travels by private Jet. He owns the world’s largest private Jet Company.
His company, Berkshire Hathaway owns 63 firms. He writes only one letter to each of his CEOs in a year, specific to the goals for the year. He never holds meetings or calls them regularly.
He does not socialize much with high society people. He prefers to watch television in leisure.
Bill Gates, the richest (busiest too) man scheduled to meet him for half an hour, but the meeting lasted for some 10 hours.
Some of his advice to youngsters:-
Stay away from credit cards/Bank Loans.
Money doesn’t create man but the man who creates money
Live your life as simple as you are,
Don’t do what others say, listen them, do what you feel good.
Don’t go on brand names, just use those stuff you feel comfortable for you.
Don’t waste your money on unnecessary things; spend on them which are necessary.
After all, it is your life; never give a chance to others to rule on your life.
I wished to write more on his personality... but wordless now
Comment please
Regards
Shabu Thachat
Good Selective points Shabu!
ReplyDelete-Kumaran.
Dear Shabu,
ReplyDeleteWe're not good enough to comment on this great personality.
We can certainly comment on your good work to put something on paper which is only a minute detail about this big person.
But, we definitely got to know some unknown facts about Mr Buffet from your this valued posting.
gr8est investor in d world and one of d mst genorus too.!
ReplyDeleteeven bill gates is of d same nature..richest person on earth not only by wealth but also by heart...both of dem donated billons of dollars 4 social welfare...!
Sir,
ReplyDeleteMost of us know lot about buffett and read books like The Real Warren Buffett. But the problem is most of us don't follow him. What is the use of reading about legends like him and buy when Buffett sells and sell when Buffett buys?
Last year when Buffett was buying shares all were bearish. Now when Buffett is selling all are bullish. When market trades at higher levels we will hear many good news and we won't be able to sell. When market trades at lower levels we will hear many bad news and we won't be able to buy.
The only thing which attract us is he made huge money from stock market and not his simple life or charity.
Dear all,
ReplyDeleteThanks a lot for the worthy comments.
regards
Shabu
Dear James,
ReplyDeleteThanks for the comment.
I was reading twice your following lines.
"The only thing which attract us is he made huge money from stock market and not his simple life or charity"
I don't think the "us" portion is justifiable. My attraction is his greatness rather what he made from the market, he is still a simple, matured and cool human being, with great ideas, who knows better the reality of a human life.. and a lot more...
I am not forgetting that it is a blog related to investment, but the post I made only cause of his down to earth simplicity, as we have still people like him ...
We have lot of great investors with outstanding and successfull strategies, but I found such... in him only.
Thanks for the comment.. regards
Shabu
I have put the following lines at first.
" You can read much more in between the lines…"
Sir,
ReplyDeleteI ment to say most of us think like that. I know you follow Buffett's way because you always search for under valued stocks. You always stay away from herd. When you recommended sasken at 70-120 levels all were talking bad things like their problems with Nortel and so on. Now a days all are bullish on that stock.
Thank you james. The soul Buffet were always my core inspiration...
ReplyDeleteSasken story is just started... let us see what happens in coming 3-4 years. I am very much confident on Sasken itself and some other stocks I recommended for my clients, as you said they are still undervalued.
Thanks for the comments and keep reading.
regards
Shabu
A really nice post really important ideas put in a nut shell...
ReplyDeleteIn general one of the most important things related to investing is patience and investing in areas we know about (not just investing in a business we have no clue about).
I think most investors miss on these two critical points.
Anyways post like this keep getting us back to basics which is a secret to success...Thanks...
Dear Shabu,
ReplyDeleteWhat do you feel could be the ultimate target for Nifty before we go into some sort of serious correction/consolidation, after a big rally from Nifty 2500 to 5000 levels - almost doubling up in 7 months compressed period.
I feel, we could go into unprecendented zone of 5250-5450 inducing 'Panic Buying' amongst Retail investors, before a trap slump. These targets may be reached with some consolidation or even without it.
Your views are requested.
Dear Faisal,
ReplyDeleteThanks for the comment.
You are absolutely right, as 2 of these points, patience & Knowledge are the most worthy money making techniques than anything else.
regards
Shabu
Dear Viral,
ReplyDeleteI agree with your views, rather Nifty may cross the 5550-5700 mark! I feel so.
forthcoming quarterly results may boost the panic buying of companies involved in FMCG/Consumer Durable segment. The lesser impact of Swine flue saved a bit the market. A YoY PAT comparison may spark further rallies, but a trap definitely ahead.
regards
Shabu