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Sunday, August 17, 2008

Warren Buffett

The richest man in the world (ranked by Forbes - Feb 2008) dethroning Bill Gates, who held the title for thirteen years straight.

Following are some very interesting aspects of his life.

  1. He bought his first share at age 11 and he now regrets that he started too late!

  1. Buffett filed his first income tax return when he was 13 years old.

  1. He bought a small farm at age of 14 with savings from delivering newspapers.

  1. He still lives in the same small 3-bedroom house in mid-town Omaha, he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.

  1. He drives his own car everywhere and does not have a driver or security people around him.

  1. He never travels by private jet, although he owns the world's largest private jet company.

  1. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.

  1. He has given his CEO's only two rules.

Rule number 1: Do not lose any of your share holder's money.

Rule number 2: Do not forget rule number 1.

  1. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television.

  1. Warren Buffett does not carry a cell phone, nor has a computer on his desk

Buffet's advice to young people

Stay away from credit cards / Loans and invest in yourself and Remember :

  • Money doesn't create man but it is the man who created money.
  • Live your life as simple as you are.
  • Don't do what others say, just listen 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 on them who really in need rather.
  • After all it's your life then why give chance to others to rule our life.

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