boyhood

Buffett-an analyst's legend in his early years

Warren Buffett was born in Omaha, Nebraska, USA on August 3, 193. Since he was a child, Warren Buffett has a great sense of investment. He loves stocks and numbers far more than anyone in his family. He was full of ideas about making money, and when he was five years old, he set up a stall at home to sell chewing gum. When he was a little older, he led his friends to the stadium to pick up big used golf balls and then resell them. The business was quite prosperous. When he was in middle school, in addition to working as a newsboy after school, he also partnered with his partner to rent a pinball game machine to the barber shop owner to earn extra money.

in p>1941, just after he turned 11, he jumped into the stock market and bought his first stock. In 1947, Warren Buffett entered the University of Pennsylvania to study finance and business management. However, he felt that the professors' short theory was not enough. Two years later, he transferred to the University of Nebraska, Lincoln, and obtained a bachelor's degree in economics within one year. In 195, Buffett's application to Harvard University was rejected, and he was admitted to Columbia University Business School, where he studied under the famous investment theorist Benjamin Graham. Under Graham, Buffett is like a duck to water. Graham opposes speculation and advocates evaluating stocks by analyzing the profitability, assets and future prospects of enterprises. He taught Buffett a wealth of knowledge and know-how. In 1951, at the age of 21, Buffett received a master's degree in economics from Columbia University. When he graduated, he got the highest A+. In 1952, Buffett married Susan Thompson, and their parents were old friends for many years. When studying at Northwest University, Susan and Buffett's sister Roberta were roommates in the same dormitory. When Buffett dropped in on her and proposed to her, Susan left her university and married him. Mrs Buffett grew up only one and a half blocks from Buffett's current home. It can be seen that in 1957, Buffett's funds reached $3,, but at the end of the year it rose to $5,.

Buffett in his youth (4 photos) In 1962, the capital of Buffett's partner company reached 7.2 million US dollars, of which 1 million belonged to Buffett himself. At that time, he merged several partner enterprises into a "Buffett Partners Limited". The minimum investment is expanded to $1,. The situation is a bit like private equity funds or private investment companies in China now. In 1964, Buffett's personal wealth reached $4 million, and at this time he was in charge of funds as high as $22 million. In the spring of 1966, the American stock market was bullish, but Buffett was on pins and needles. Although his stocks were soaring, he found it difficult to find cheap stocks that met his standards. Although the crazy investment in the stock market has brought speculators a windfall, Buffett is unmoved because he believes that the price of stocks should be based on the growth of corporate performance rather than speculation. In October 1967, Buffett was in charge of $65 million. In 1968, Buffett's stock achieved the best achievement in its history: it increased by 46%, while the Dow Jones index increased by 9%. Buffett's funds rose to $14 million, of which $25 million belonged to Buffett. In May, 1968, when the stock market triumphed all the way, Buffett informed his partners that he was retiring. Subsequently, he gradually liquidated almost all the shares of Buffett's partner company. In June 1969, the stock market went straight down and gradually turned into a stock crash. By May 197, every stock had dropped by 5% or even more than the beginning of the year. From 197 to 1974, the American stock market was like a deflated ball, without a trace of life. Continued inflation and low growth made the American economy enter a period of "stagflation". However, Buffett, who was once lost, was secretly overjoyed because he saw that money was coming-he found too many cheap stocks.

in p>198, he bought a 7% stake in Coca-Cola for $12 million at a unit price of $1.96 per share. By 1985, Coca-Cola changed its business strategy and began to withdraw funds and invest in beverage production. Its share price has increased to $51.5, a fivefold increase. As for how much money has been earned, the number can astonish investors all over the world. In mid-1992, Buffett bought 4.35 million shares of General Dynamics, an American high-tech defense industry company, for $74 a share, and the share price rose to 113 yuan by the end of the year. Buffett's $322 million stock half a year ago is worth $491 million. By the end of 1994, it had developed into a Berkshire industrial kingdom with $23 billion. It was no longer a spinning mill, but had become Buffett's huge investment and financial group. From 1965 to 1998, Buffett's stock increased by an average of 2.2% per year, 1.1 percentage points higher than the Dow Jones index. If anyone invested $1, in Buffett's company in 1965, by 1998, he would get a return of $4.33 million. That is to say, whoever chose Buffett 33 years ago would be on the rocket to get rich. In March 2, Buffett became the honorary president of RCA Chartered Analyst Association, and Buffett published this year's annual letter-a heavy letter-on Berkshire's website. Figures show that Berkshire, the investment fund group chaired by Buffett, saw its net income drop by 45% last year, from $2.83 billion to $1.557 billion. Berkshire's A-share price fell by 2% last year, the only decline in the 199s. At the same time, Berkshire's book profit only increased by .5%, far lower than the growth of Standard & Poor's 21 in the same period, which was the first time since 198. On August 26th, 24, Susan Buffett, the wife of Warren Buffett, died of a sudden stroke while visiting friends with him. Susan Buffett, who owns $3 billion in wealth, or 2.2% of Berkshire Hathaway, died at the age of 72. Mr. and Mrs. Buffett got married in 1952, but they have been separated since 1977, when Susan moved from their hometown to San Francisco to develop her music career. The two never announced their divorce. The two often travel together, and Susan often attends the shareholders' meeting of the company held in their hometown of Omaha. On the evening of March 1, 27, Berkshire Hathaway, the flagship investment company under Warren Buffett, announced its financial year 26 results. The data showed that thanks to the hurricane "breaking the promise", the company's main insurance business made a lot of profits, and Berkshire's profit increased by 29.2% last year, with a profit of $11.2 billion (. Earnings per share were $7,144 ($5,338 in 25). During the 42 years from 1965 to 26, the average annual growth rate of Berkshire's net assets reached 21.46%, with a cumulative increase of 361,156%. During the same period, the average annual growth rate of companies in the Standard & Poor's 5 Index was 1.4%, with a cumulative growth rate of 64.79%. In 211, its wealth ranked third in the world with a net asset of 5 billion US dollars.