Born August 30th, 1930, Warren Buffett became a well-known businessman from the time he was 6 years old re-selling Coca-Cola bottles that cost him $0.25 each, for only a nickel, making a $0.05 cent profit.
Then at 11, he bought three shares of Cities Service Preferred stock, which fell over to $27 a share. Buffett held his shares until he sold them at $40, which was a mistake. Cities Service stock then went up to $200. His first lesson from that experience was “Patience is a virtue.”
Warren Buffett then graduated high school at 17 and went to the Wharton Business School at the University of Pennsylvania, where he felt he knew more than professors, even as he transferred to the University Of Nebraska-Lincoln, graduating in three years. By the time he got to graduate school, he applied to Business School who rejected him because of his youth. Columbia accepted him, however, which was where investors Ben Graham and David Dodd became his mentors.
Warren Buffet was the only A+ student in Ben Graham’s classes. Buffet wanted to work for Graham for free, but he turned him down because he was holding spots for Jewish people who were not hired at Gentile firms during that time. Buffett instead went home to work for his father’s brokerage house, and began dating Susie Thompson, and married her in April 1952, having a daughter who slept in a dresser drawer bed to save money.
Buffett’s investments were linked to a Texaco station, and some real estate, while he taught night classes at the University of Omaha, something he could not have done months before. Buffett moved his wife to New York where he started working for Graham, analyzing S&P reports.
On May 1st, 1956, Buffett began his company raising $105,000 from family, calling it Buffett Associates, Ltd.