One of the richest people in the world Warren Buffett is an avid reader. The CEO of Berkshire Hathaway Inc. is the 3rd richest person in the world currently with a net worth of over $80 billion. As the head of this company, one thing he values is making wise investment decisions. The company which is worth over $400 billion has achieved such success because Warren Buffett is brilliant. He makes investment decisions that are thought out. To him, it is not about great ideas only; it is about the concept meeting all the requirements to qualify as a good investment.
Warren Buffett was influenced to join business from a very tender age. He started looking for investment idea at the age of 7 years. He could read books on investment to fully understand it. His father was also an investor. He had a small shop from where Buffett would pick up the investment books that were lying around.
Buffett’s passion for reading saw him become a regular guest at the Omaha public library. He could look for books on investment and read them thoroughly. While he was looking for the best investment book, he came across a book titled “The Intelligent Investor.” This is the book that changed his life. His passion for investment was given a boost. This book was authored by Benjamin Graham, a former business professor at the University of Columbia. It was published in 1949.
From this book, Warren Buffet picked a very important business strategy of “Value Investing.” This is a strategy whereby the one should buy undervalued stocks and hold them for a long term. He also learnt that value investing does not only depend on technical analysis but also the mental approach. Today, Warren Buffett says that temperament plays a significant role in picking the best stocks.