The American Dream of Warren Buffett

Only available on StudyMode
  • Download(s) : 222
  • Published : March 16, 2011
Open Document
Text Preview
Georgia Agrapidis
English 3 CPE
Research Paper
Warren Buffett
The popular American capitalist, Warren Buffett, has set the standard for many people by reaching the American Dream for most; from the moment young Warren Buffett was born in Omaha, Nebraska, he had always targeted high and worked harder than anyone, to reach those infinite goals. Many people have different perspectives on what the “American Dream” really means. To some people, being rich, having fame, a happy family, or a healthy lifestyle is what people consider being the American Dream. However, someone like Warren Buffett appears to define the American Dream as having fun with making money rather then the rewarding results that comes from it. Warren Buffett is now in 2011 alternating with Bill Gates as the wealthiest man in the nation. In many eyes Buffett could be classified as the most ingenious and successful stockbroker who has ever existed. Anyone who had invested $10,000 for Warren Buffett to work with in the year 1957 had collected $150,270 over a thirteen-year interval. To discover and achieve the “American Dream of Success,” you need to have the motivation, intelligence, and opportunity to pursue that goal.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute,” Warren Buffett stated after proving this throughout his ambitious life that started when he was only six years old. (Warren Buffett Bio.) His story starts from delivering newspapers in Omaha Nebraska, to resting on an empire as the richest man in America. He has shown that anybody can obtain the American Dream in our country. When Buffett was a child, he would buy six-packs of Coca-Cola for 25 cents and resell the coke bottles for 5 cents each. Any six year old who is able to come up with such an idea, is bound to have excessive potential to become successful. When he turned nine, he began to collect golf balls that he had found in the woods at a local golf course. He then cleaned and sold them for a profit. Later in the year, Buffett took on a job as a newspaper delivery boy in his area. Between selling the golf balls, the coke bottles, and delivering newspapers, he had acquired a sufficient amount of money to purchase three shares of Cities Service Preferred Oil Company stock at $38 per share at age eleven. However, Buffett then made his first mistake, which he picked up on later on in his life. He realized that his stock jumped to $40 a share within the next couple of days, so he quickly sold his shares and gained six dollars. Although six dollars is not a huge amount, he had decided to sell and secure his profit. Immediately after Warren Buffett sold his stocks, they shot up from $40 a share to $200, which taught him the value of patience. (Ryan 11-15) At this very early age, Buffett was already chasing the American Dream.

After Buffett’s young success in Omaha, his father, Howard Buffett, was elected to Congress, forcing Warren Buffett and his family to move to Washington D.C. He hated the move and began writing letters to his grandfather who still lived back at home. In return, his grandfather gave him an invitation to live with him in Omaha until he completed the 8th grade. Buffett’s parents approved his decision, and he returned to his hometown of Omaha. He began to work on weekends for his grandfather Ernest who owned a company called “Buffett and Sons.” Buffett and Sons was a grocery store where Warren learned that having an active business was the key to a successful one. He worked countless hours stocking the shelves in his grandfather’s office. To prove Buffett’s motivation to achieve the American Dream, he was giving up the childhood that most children have at age thirteen. His definition of having fun was to make sure he could make as much money as possible. (Ryan-13) Strangely, Warren Buffett was never into buying fancy jewelry, expensive cars, or luxurious homes like most people with money. Instead he was constantly...
tracking img