Warren Buffet

Topics: Warren Buffett, Berkshire Hathaway, GEICO Pages: 2 (588 words) Published: February 11, 2013
Warren Buffet
There are many characteristics when considering what makes a successful entrepreneur. Can you accept failure? Do have perseverance? Can you rely on yourself? These are all questions you must ask yourself when deciding whether or not you can be an entrepreneur efficaciously. Warren Buffet is a golden example of how through uncertainty, vision, and later on his social responsibility, you can become one of the world’s most successful entrepreneurs. Warren Buffet’s path into the world of business started at a very young age. In 1941, while he was just eleven years old, Buffet purchased three shares of Cities Services stock at $38 a piece. Not long after, he would learn his first lesson of business, tolerance of uncertainty. His shares of stock dropped down value to $27 each; although he was uncertain whether or not to sell his shares he had patience and persevered until the price of his shares rose to $40 a piece, which he then sold immediately. As time passed, Buffets knowledge in business expanded and once in high school his entrepreneurial journey began after he started a pinball machine business. During that time he was making revenues of over $85 with a profit of $50 per week. By the time Warren Buffet graduated out of high school he was able to buy forty acres of farmland in Nebraska, and this was just the beginning to a very successful career. In May of 1956, several investors, including Warren Buffet, raised enough money to create Buffet Associates Ltd with an initial investment of $105,000, five thousand of which was contributed from Warren Buffet. At the end of that very same year Buffet was dealing with a capital of roughly $300,000, talk about doubling your money! In May of 1965 Warren Buffets vision began to come true when he purchased 49% of Berkshire Hathaway common stock and appointed himself as director of the company. Once being directed by Warren Buffet, Berkshire Hathaway began acquisitions and mergers with other...
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