Ben Graham and Warren Buffett have been great friends for quite some time. And to Warren Buffett, Graham was an inspiration to him in all of his college years. Graham was the one who talked Buffett into continuing to learn in spite of the neighborhood not learning what they needed to learn. During Buffett’s college years, he chose the classes that Graham taught to learn all the fundamentals of business.
Buffett thought that he knew enough, but in fact, he still needed to learn more about the stock industry. Warren Buffett didn’t know to make all of his business detailed to the point to where he would not lose one cent. He knew that he was likely to let some money go and not pay attention to what he was spending on some occasions.
Bookkeeping was the main subject that helped Buffett learn what he needed to do to value a penny. Graham should him how to keep up his books to keep him from ignoring the smaller issues. Warren Buffett can still make a valuable stock purchase to the penny because of the wonderful Ben Graham.
Warren Buffett wanted to learn the ways of Graham before anyone else did. Some he heard from others, but the only way he could find out for himself is to take the classes that were offered at the University. Warren Buffett decided to go with some of his own suggestions after he took the classes. Buffett ended up making millions and was able to buy stocks that he allowed to accrue interest which moved him into the billion dollar bracket. The two friends bonded and all that Buffett learned as far as his foundation is concerned was because of his friend Ben Graham. Buffett still reviews Graham’s books from time to time to make sure that he doesn’t forget how he set up his business from the start.