Have you ever tried to start a conversation with your friends about stocks and investing. It can be a real mood killer, that’s why you need to seek advice from someone like Warren Buffett. Mr. Buffett is an excellent resource to discuss stocks and investing.
Warren Buffett also known as the Oracle of Omaha is one of the most successful investors in the world with a net worth of about 86 billion as of 2019. He is the Chairman and CEO of Berkshire Hathaway a holding company.
In today’s world we can all use a little help and advice when it comes to navigating the stock market and choosing which investments are right for us. Warren Buffett is a great mentor. We may not be able to sit down with him to review our personal investment strategies, but we can listen to his countless interviews online and read some of his favorite books for instance “The Intelligent Investor by Benjamin Graham.” Warren stated during an interview that this book changed his life.
Warren started saving money when he was very young. He worked for his father at the family grocery store and did other odd jobs such as selling chewing gum, washing cars and selling magazines door to door. He used the money that he earned to purchase businesses. He purchased a farm and hired a tenant farmer to work the land. At age 15, Warren purchased pinball machines that he set up in local Barber Shops, while he was in high school.
In 1962, Warren began purchasing shares of Berkshire Hathaway, it was a textile company at the time. After a disagreement concerning management styles, Warren purchased the company. Berkshire is now a holding company, as a holding company, Berkshire purchases stocks and multiple businesses.
Despite his immense wealth, Warren is frugal. His thinking is to look at stocks as companies, use the markets fluctuations to your advantage and seek a margin of safety.
What we can learn from Mr. Buffett is that saving money, reading books and financial reports are key to making sound investment decisions. Although Warren Buffett started saving when he was very young, he was a millionaire in his 30s, Warren made the majority of his wealth after age 50, so it’s never to late.