Warren Buffet

Topics: Berkshire Hathaway, Warren Buffett, Omaha, Nebraska Pages: 2 (822 words) Published: January 9, 2013
Warren Buffet
Warren Edward Buffett was born in Omaha, Nebraska to Howard, a politician/businessman and Leila Buffett, a homemaker on August 30, 1930. He is the second oldest of three children and the only son. Buffet began his education at Rose Hill Elementary School in Omaha. A career change with Warren's father in 1942, being elected into a four year term as one of the U. S House of Representatives caused the Buffett's to have to move to Fredericksburg, Virginia to be closer to his new job. Warren continued his elementary education and attended Alice Deal Junior High school and later graduated from Woodrow High School. As a child Warren wasn't a normal kid, he was able to calculate numbers off the top of his head. He took interests in the type of work his father was in and wanted to make money at an early age. At the age of six years old, Buffett purchased a 6-pack of Coca-Cola from his grandfather's grocery store for twenty five cents, went from door to door and resold each of the bottles for a nickel, pocketing a five cent profit. At eleven years old Warren purchased three shares of Cities Service, at $38 per share for both himself and his sister Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: Patience is a virtue. While in high school Warren carried out many successful money making ideas such as: delivering newspaper, selling weekly magazines, Coca-Cola, chewing gum, golf balls, stamps all door to door and detailing cars. He also worked in his grandfather's grocery store. In 1944, Warren filed an income tax return, and took a $35 deduction for the use of his bicycle and watch on his paper route. Warren Buffett is the CEO and chairman of Berkshire Hathaway. Berkshire Hathaway began as a textile...
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