Warren Buffett
Warren Buffett
Warren Buffett 1930 was born in Omaha, California on August 30th. His father, Howard Buffett, is a local stockbroker and also a members of the Communist Party of China (CPC). From the beginning, Warren was cautious beyond his age, and he was called "a child who seldom got into trouble" by his mother. Warren Jr. was born obsessed with numbers. He often spends the whole afternoon with his friends: overlooking the busy intersection and recording the license plates of cars coming and going. After dusk, they returned to the house, started the "Grain Maha World Herald", counted the number of times each letter appeared on it, and wrote many changing numbers on the grass paper. 1929 the great depression in the United States put his father Howard's job as a securities broker in trouble, resulting in a very poor family life. Mothers often scrimp and save so that their husbands and children can eat more. It was not until Warren began to study that the situation gradually improved. After these hard years, he has been eager to become very rich. He had this idea before he was five years old, and he never gave up after that.
Warren once sat on the fire escape in elementary school and calmly told his friends that he would make a fortune before he was 35. He never shows any signs of boasting, and he believes it himself. Someone once asked him why he made so much money. Warren replied, "It's not that I want a lot of money. I think it's interesting to make money and watch the money increase gradually. "
195 1 year, after graduating from Columbia University, Buffett returned to Omaha and worked as a stockbroker in his father's trading department, Buffett Falk Company. His greatest progress in Buffett-Falk is not in the investment industry, but in the open class of Dale Carnegie. In class, he learned the ability to speak freely in public. Later, he developed this skill by teaching "Investment Principles" at the University of Omaha.
With the improvement day by day, this skill is very important for his future investment. From 65438 to 0954, Buffett went to new york to work for Graham Newman, the investment company of his mentor Graham. Because of Graham's conservative attitude, he refused to make any subjective analysis of the company, but he was willing to stick to his teaching principles. This often leads to investment companies holding money for investment, thus losing many opportunities. Buffett realized this and began to study the influence of quality factors on the intrinsic value of the company. To this end, he will personally visit enterprises to explore the secret that one enterprise is more successful than another. Although Graham didn't agree with Buffett's approach, Buffett still quietly applied these research results to his own investment, and he achieved a higher return on investment than Graham Newman. Since 1950 left the university campus, Buffett's individual capital has soared from $9,800 to 1400.
1930 On August 30th, Warren Buffett was born in Omaha, Nebraska, USA.
193 1, he just turned 1 1 and jumped into the stock market and bought the first stock in his life.
From 65438 to 0947, Buffett entered the University of Pennsylvania to study finance and business management. However, he was not satisfied with the professors' brief theories. Two years later, he left without saying goodbye and was admitted to the Finance Department of Columbia University, where he studied under the famous investment theory textbook.
Benjamin Graham. Under Graham, Buffett is at home. Graham opposes speculation and advocates evaluating stocks by analyzing the profitability, assets and future prospects of enterprises. He taught Buffett a lot of knowledge and know-how. The talented Buffett soon became Graham's favorite student.
1950 Buffett's application for Harvard University was rejected.
195 1 year, Buffett got the highest A+ when he graduated from 2 1 year.
From 65438 to 0957, Buffett's capital reached $300,000, but by the end of the year it had risen to $500,000.
From 65438 to 0962, the capital of Buffett's partner company reached 7.2 million US dollars, of which 1 10,000 belonged to Buffett himself. At that time, he merged several partner enterprises into a "Buffett Partners Limited". The minimum investment has been expanded to more than 654.38 million dollars. The situation is a bit like the private equity fund or private equity investment company in China now.
From 65438 to 0964, Buffett's personal wealth reached $4 million, while the funds he was in charge of had reached $22 million.
1966 in the spring, the US stock market was bullish, but Buffett was restless. Although his stock is soaring, he finds it difficult to find cheap stocks that meet his standards. Although the crazy speculation 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 company performance rather than speculation.
1967 10, Buffett's funds reached $65 million.
From 65438 to 0968, Buffett's stock achieved the best result in history: it rose by 59%, while the Dow Jones index rose by 9%. Buffett's funds rose to $6.5438+0.04 million, of which $25 million belonged to Buffett.
1968 In May, when the stock market was booming, Buffett informed his partners that he was retiring. Subsequently, he gradually liquidated almost all the shares of Buffett Partners.
1June, 969, the stock market plummeted and gradually evolved into a stock market crash. By May 1970, every stock had fallen by 50% or more than at the beginning of the year.
During the period of 1970-1974, the American stock market was like a deflated ball with no vitality. Sustained inflation and low growth have brought the American economy into a stagflation period. However, Buffett, who was once lost, was secretly glad to see the money coming-he found too many cheap stocks.
1972, Buffett once again focused on the newspaper industry, because he found that owning a famous newspaper was like owning a toll bridge, and any passerby had to stay and buy money. Starting from 1973, he stole the Boston Globe and Washington post from the stock market, and his involvement greatly increased Washington post's profits, with an average annual increase of 35%. After 10 years, Buffett's investment of 10 million dollars rose to 200 million.
1980, he bought 7% shares of Coca-Cola at the unit price of 10.96 USD per share. By 1985, Coca-Cola changed its business strategy and began to withdraw funds and invest in beverage production. The unit price of its shares has risen to $5 1.5, a fivefold increase. As for how much money has been earned, this figure can shock investors all over the world.
1992, CMB Fett bought 4.35 million shares of General Dynamics Company, an American high-tech defense industry company, at a price of $74 per share, and the share price rose to 1 13 yuan at the end of the year. Buffett's $322 million stock half a year ago is now worth $49 1 10,000.
By the end of 1994, 1994 had developed into a Berkshire industrial kingdom with $23 billion. It is no longer a spinning mill, but has become Buffett's huge investment and financial group. From 1965- 1994, Buffett's stock grew by an average of 26.77% every year, nearly 17 percentage points higher than the Dow Jones index. If anyone invests $65,438+00,000 in Buffett's company in 65,438+0965, he will get a return of $65,438+065,438+03 million through 65,438+0994. In other words, whoever chose Buffett 30 years ago was on the rocket to get rich.
On March 1 1, 2000, Buffett published this year's annual letter on Berkshire's website-a heavy letter. The data shows that the net income of Berkshire, the investment fund group chaired by Buffett, fell by 45% last year, from $2.83 billion to $654.38+$55.7 million. Berkshire's A-share price fell by 20% last year, which was the only decline in the 1990s. At the same time, Berkshire's book profit only increased by 0.5%, which was far lower than the growth of Standard & Poor's 2 1 in the same period, which was the first time since 1980.
Warren Buffett (Warren Buffett)
Investment strategy and theory: growth investment strategy based on value investment. What matters is the quality of individual stocks.
Theoretical exposition: The essence of value investment is that the intrinsic value of a stock with good quality and low price will always be reflected in the stock price for a long time. Using this feature, the principal can be copied and increased steadily.
Specific practice: buy stocks with growth potential but low stock price and hold them for a long time. It is the way for long-term investors to get rich by maintaining steady growth every year and creating wealth for themselves by using the amazing power of double accumulation.
Rules and taboos to be observed:
Eight criteria for stock selection: 1, which must be a consumer monopoly enterprise; 2. The product is easy to understand and has a bright future; (3) Having a stable business history; 4. The management is rational and loyal, focusing on the interests of shareholders; 5. Financial stability; 6. High operating efficiency and good income; 7. Low capital expenditure and abundant free cash flow; 8. The price is reasonable.
Four noes: 1. Don't speculate. Don't let the stock market lead you by the nose. Don't buy unfamiliar stocks. 4. Don't over-diversify your investment.
Views on the relationship between the general trend and individual stocks: only pay attention to the quality of individual stocks and ignore the general trend.
Views on stock market forecast: The only value of stock market forecast is to make Feng Shui master profit from it.
Views on investment tools: investment is to buy companies, not stocks. Put an end to speculation, which is the most dangerous when it seems easy to get.
Famous sayings and concepts: "Time is the friend of good investors and the enemy of bad investors." "Investment must be rational. Don't invest if you don't understand. " "To succeed, you have to take advantage of the two deadly enemies of Wall Street investment: fear and greed. You have to go forward when others are afraid and stop when others are greedy. "
Others and achievements: 1930 was born in the United States, a Jew, and a student of Benjamin Graham, the father of value investment. 1956 100, and its value reached $42.9 billion in 2003, with a compound annual growth rate of 52.9% for 46 years.
Warren Buffett
Title: CEO
Company name: Berkshire Hathaway Company
Date of birth: 1930.8.30
Resume:
1930 On August 30th, Warren Buffett was born in Omaha, Nebraska, USA. I study at Lincoln University in Nebraska. After graduation, he entered the Business School of Columbia University and studied under Professor Ben Graham, who is known as the originator of financial analysis.
194 1 years old, he jumped into the stock market and bought the first stock in his life.
1962, the capital of the company jointly established by Buffett and his partners reached US$ 7.2 million, of which 1 10,000 belonged to Buffett himself.
From 65438 to 0968, Buffett's stock achieved the best result in history: it rose by 59%, while the Dow Jones index rose by 9%. Buffett's funds rose to 654.38 million+004 million dollars.
By the end of 1994, Buffett has developed into a Berkshire industrial kingdom with $23 billion. It is no longer a spinning mill, but has become Buffett's huge investment and financial group.
From 1965- 1994, Buffett's stock grew by an average of 26.77% every year, nearly 17 percentage points higher than the Dow Jones index. If someone had chosen Buffett 30 years ago, he would have been on the rocket to make a fortune.
On March 10, 2005, Forbes magazine published the ranking of the world's richest people in 2005 in new york, and Buffett ranked second, second only to Bill Gates.