Friday, April 10, 2009

What's the Advice from one of the richest people living?

This is an excellent article from The Warren Buffet. Who is he!!!!!

The World's Billionaires
#1 Warren Buffett
03.05.08, 6:00 PM ET
Stephanie Kuykenal/Bloomberg News/Landov
Age: 77 

Fortune: self made 

Source: Berkshire Hathaway 

Net Worth: $62.0 bil 

Country Of Citizenship:United States 

Residence: Omaha, Nebraska, United States, North America 

Industry: Investments 

Marital Status: widowed, remarried, 3 children 

Education: University of Nebraska Lincoln, Bachelor of Arts / Science 
Columbia University, Master of Science 
America's most beloved investor is now the world's richest man. Soared past friend and bridge partner Bill Gates as shares of Berkshire Hathaway climbed 25% since the middle of last July. Son of Nebraska politician delivered newspapers as a boy. Filed first tax return at age 13, claiming $35 deduction for bicycle. Studied under value investing guru Benjamin Graham at Columbia. Took over textile firm Berkshire Hathaway 1965. Today holding company invested in insurance (Geico, General Re), jewelry (Borsheim's), utilities (MidAmerican Energy), food (Dairy Queen, See's Candies). Also has noncontrolling stakes in Anheuser-Busch, Coca-Cola, Wells Fargo. Insurance operations flourished in 2007. "That party is over. It's a certainty that insurance-industry profit margins, including ours, will fall significantly in 2008." The Oracle of Omaha issued a challenge to members of The Forbes 400 in October; said he would donate $1 million to charity if the collective group of richest Americans would admit they pay less taxes, as a percentage of income, than their secretaries. Had long promised to give away his fortune posthumously. Irrevocably earmarked the majority of his Berkshire shares to charity in 2006, mostly to the Bill & Melinda Gates Foundation. Gift was valued at $31 billion on day of announcement; donation will far exceed that sum so long as Berkshire shares continue to rise.

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