Buffett does not invest in major start-ups but rather, invests in companies that have established businesses. The Snowball is a title of the only authorized Warren Buffett biography, which is at 1,000 pages going into detail with many stories that highlight the character of Warren Buffett’s investment strategies. Business needs to be built to last can take a long time to put together. Buffett was into math, statistics, numbers, and stocks from a very early age. By age 10 he had read every single finance book in the Omaha library. He worked for his father’s business.
And then, he spent a few years with his mentor, Benjamin Graham, launching his own investment partnership, going on to beat the S&P 500 in over 40 out of 50 years, during which time he became one of three richest people in the world, temporarily taking the number 1 spot in 2008. There are three life-lessons Buffett’s life imparts and they are, start early, be patient, plan for the next. The third lesson is to build a reputation because reputations come hard but go fast.
Buffet learned a lot about statistics from the time he was a child, memorizing baseball statistics, which then prepared him for business statistics. He would read and then do. At the age of nine, he had sold gum and Coke, at 10 it was peanuts at football games, at eleven, he had saved $120. By 12 he was delivering newspapers, and selling subscriptions, earning $175 a month. His passion for investment was apparent at an early age. If your gut tells you what you want to do with your life, start now, don’t delay. Patience is essential to allow yourself to build your life, one day at a time. You have to patiently wait for the right opportunity to present itself.