Warren’s father owned a small brokerage firm, and as a young child Warren would listen and watching what his dad’s investors were saying and doing. When Warren reached his teenage years, he worked various odd jobs. From his savings with these odd jobs, Warren purchased pinball machines and placed them in businesses around the town.
Warren Buffett Goes to College
Warren’s dad, Howard Buffett, stressed education as Warren was growing up. Warren went to the University of Nebraska, where he pursued and finished his business degree in three years. Warren after obtaining his business degree applied to Harvard Business School, where he was turned down for admission. Warren, not to be discouraged, completed his graduate studies at the Columbia Business School.
Warren Buffett and Fundamental Analysis
Warren Buffett considered Benjamin Graham as his major influence after graduating from Columbia School of Business. Graham wrote the book, “The Intelligent Investor”, in 1949. This book was basically a basic guide for the common investor. His book focuses on his principle of fundamental analysis, which focus on a stock’s purchase price and it’s intrinsic value.
Benjamin Graham Influence of Warren Buffett’s Career
After finishing his graduate work, Warren Buffett has all intentions of selling stocks at the New York Stock Exchange. However, Graham steered Buffett back to Omaha, where Buffett worked as a stockbroker, opening several partnerships. By 1961, Buffett has become a millionaire because of his success. Later that year in 1961, Buffett switched to directly investing in stocks.
Warren Buffett in 1962 started buying low priced stock in Berkshire Hathaway, then a textile manufacturing company. By 1965, Buffett has bought enough of Berkshire Hathaway’s stock and took control of the company. Today, Warren Buffett is CEO of Berkshire Hathaway, now an investment firm, and the second wealthiest person in the United States.