Who is Warren Buffett?
Warren Edward Buffett (born August 30, 1930) is an American investor, business magnate, and philanthropist. He is considered by some to be one of the most successful investors in the world, and as of February 2017 is the second wealthiest person in the United States with a total net worth of $76.9 billion.
Born in Omaha, Buffet developed an interest in investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska–Lincoln. After graduating at 19, Buffet enrolled at Columbia Business School of Columbia University, learning and eventually creating his investment philosophy around a concept pioneered by Benjamin Graham–value investing. He attended New York Institute of Finance to specialize his economics background and soon after began various business partnerships, including one with Graham. After meeting Charlie Munger, Buffet created the Buffett Partnership. His firm would eventually acquire a textile manufacturing firm called Berkshire Hathaway and assume its name to create a diversified holding company.
Buffet has been the chairman and largest shareholder of Berkshire Hathaway since 1970, and his business exploits have had him referred to as the "Wizard", "Oracle" or "Sage" of Omaha by global media outlets. He is noted for his adherence to value investing and for his personal frugality despite his immense wealth.
The most important thing that people rarely understand about Warren Buffet is that he made his money by being a hedge fund manager, not by investing his money.
Hedgefund managers made a percentage of the amount of money they are investing for others and that is how he was able to collect such a huge sum of money.
What this means is that is that the subject he discusses, investment, will never allow you to collect wealthy like he has.
In the USA advertising a hedge fund to the public is illegal and the publicity stunts is Warren Buffet's way of getting around the laws to advertise his hedge fund called Berkshire Hathaway.
It's not as if his hedge fund is the top performing hedge fund either.
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