CFO

How Did Warren Buffet Get His Start?

Today’s post is by Randy Russon, founder of TOPCFOS

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From Investopedia we learn, “Warren Buffett may have been born with business in his blood. He purchased his first stock when he was 11 years old, and worked in his family’s grocery store in Omaha. His father, Howard Buffett, owned a small brokerage, and Warren would spend his days watching what investors were doing and listening to what they said. As a teenager, he took odd jobs, from washing cars to delivering newspapers, using his savings to purchase several pinball machines that he placed in local businesses.

His entrepreneurial successes as a youth did not immediately translate into a desire to attend college. His father pressed him to continue his education, with Buffett reluctantly agreeing to attend the University of Pennsylvania. He then transferred to the University of Nebraska, where he graduated with a degree in business in three years.

After being rejected by the Harvard Business School, he enrolled in graduate studies at Columbia Business School. While there, he was taught by Benjamin Graham and David Dodd, both well-known securities analysts. Buffett was a fan of Graham’s book “The Intelligent Investor,” and it was under Graham that Buffett learned the fundamentals of value investing.”

I just wanted to share a few observations that I’ve had about Warren Buffet. The first observation is the fact that he didn’t get rich quick. He uses and follows some very specific rules on how to invest. These rules are packed with wisdom. He followed the wisdom that Benjamin Graham taught in his book, “The Intelligent Investor”. In other words, Warren Buffet is a smart investor. The next observation I’d like to share is the fact that Warren Buffet is very conservative.

Although he could, he doesn’t go out and blow the wad. He has self-control over his money and is very conservative in his spending. He is in control of his money, not the other way around. A story I read one time about Mr. Buffet was the fact that he kept and drove around the same old car for years. Did he have the money to go buy a new one? Yes, but he chose to drive an old clunker, instead. And, the last observation I’d like to share about Mr. Buffet is the fact that he has a generous heart.

Like Bill Gates, he also chose to share some of his wealth with the poor. Back in 2006, Mr. Buffet chose to give 37 billion dollars of his wealth to the Bill and Melinda Gates Foundation. I really admire Mr. Buffet for doing this. What a wonderful thing this is to help the less fortunate in the world. So, kudos to Warren Buffet.

We hope you’ve enjoyed our Blog today. Please remember, TOP CFOS offers the finest CFO services to companies anywhere in the world and would love to be a part of your team. Feel free to reach out to us anytime. Your feedback is most welcome, and we invite you to share this post with friends and associates. Our contact information can easily be found here on our website, so give us a call today! Our next post will come from the Marketing category on our website and is entitled Hitting Your Target. And, thank you for joining us!