What little choices made Warren Buffet rich
The Ten Best Warren Buffett Quotes
At the age of 80, most people can look back on a fulfilling professional life and enjoy their retirement years. Not so were Buffett, the world's most successful investor. Even at this age, Buffett will still regularly drive to his Omaha office and do what he loves to do best: read annual reports, eat donuts and drink cherry coke.
He looks back on a very successful life. He is currently the fourth richest person in the world, not bad for the son of a broker and congressman from the tranquil Omaha in the US state of Nebraska.
Warren Buffett: An extraordinary person
At the age of 14, Buffett filed his first tax return - an age when other boys are more likely to have girls or baseball on their minds. But Warren Buffett was different. Money and earning money interested him very early in his life.
For many years, Warren Buffett worked in secret with his private equity firm Berkshire Hathaway. The annual general meetings were already unusual in the early 1980s, but only attracted a few shareholders, so they could take place in small rooms with only a hundred visitors. But word of the success spread first in the USA and then around the world.
Berkshire Hathaway Stock: Warren Buffett's Recipe for Success
Berkshire Hathaway stock grew over the years to become the world's most expensive stock, and Warren Buffett the most successful investor of all time. Since 1965 it has achieved an average annual return of 20.3%. For comparison: the S&P 500 index only brought it to 9.3%. This also increased the annual general meeting.
And that year, Omaha brought together almost 40,000 shareholders from around the world - and I was there for the fourth time. Warren Buffett's positive attitude and the prospect of new investment opportunities are so drawn to Omaha. I have heard that over and over again in many on-site conversations.
And many shareholders made a huge, huge amount of money with Berkshire Hathaway from the enormous excess returns. Remember, if you had invested $ 1,000 in Berkshire Hathaway in 1965, it would have grown to $ 2,415,745 by 2005, 40 years later. This increase in money corresponds to an annual return of more than 20%.
Buffett strictly follows the rules of value investing in his investments. Put simply, this means: He only invested in good companies at a very affordable price. Given these conditions, there was a reasonable to excellent return with a manageable risk.
But Buffett is not the dry analyst who locks himself up in his office and makes investment decisions alone. On the one hand, he has a friend and partner at his side in Charlie Munger, who is still very active at 85 years of age.
On the other hand, Buffett has earned a reputation for his dry sense of humor at the annual general meetings and through numerous interviews, especially in recent years.
The best Warren Buffett quotes
Finally, today I would like to share with you my ten favorite quotes from Warren Buffett:
1. If the past were the measure of all things, the richest people would be the archivists.
2. It takes twenty years to build a reputation and five minutes to lose it. If you keep that in mind, you act differently.
3. It is much better to buy a great company at a good price than a good company at a great price.
4. For the billionaires I know, money only reveals their basic traits. If they were morons before they got the money, they are still morons afterwards, but with a billion dollars.
5. Focus your investments. If you have a harem of forty women, you don't really get to know any one.
6. If you follow the advice of brokers, you can also ask your hairdresser if he recommends a new haircut.
7. You should only invest in companies that an absolute idiot can run, because one day exactly that will happen!
8. The question of how to get rich is easy to answer. Buy a dollar but don't pay more than 50 cents for it.
9. I firmly believe that there aren't as many complete snore noses in the whole world as there are in the United States. No one can have a fair idea who hasn't been here.
And finally, Warren Buffett's Golden Rule:
Rule # 1: Never lose money. Rule # 2: Never Forget Rule # 1.
I can only hope that Warren Buffett will remain so healthy for a long time and have many more fulfilling years ahead of him - for himself personally and for his Berkshire Hathaway shareholders as well.
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