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Of Permanent Value - The story of Warren Buffett
Of Permanent Value - The story of Warren Buffett Author:Andrew Kilpatrick Waren Buffett, who inherited no money from his parents, is the richest person in the country. — His next goal? "That's easy, to be the oldest person in the country!" After all, it's in the later years the joys of compound interest really multiply. — As an enterprising youngster, he sold Cokes and delivered newspapers. now he is on of the largest... more » shareholders of some of the nation's best known companies: Coca-Cola, Gillette, Capital Cities/ABC and The Washington Post, to name a few.
From his bedroom in Omaha, he started an investment partnership that bought Berkshire Hathaway, a now defunct New England textile mill. The textile business died but the name lived on. With money from the textile operations, Buffett - the Michelangelo of business - drew investment masterpieces of great value. "The best is yet to come," He says.
Taught by the legendary Ben Graham at Columbia University, Buffett was Graham's best student and is the greatest practitioner of value investing. Buffett has held many of Berkshire's investments for decades. "Our favorite holding period is forever," he's fond of saying.
Searching for value and holding investments permanently is his style. Picking up pennies and writing replies on Post-it notes is his idea of thrift.
Buffett's story is a statement about how to operate in a first class manner in the business world, indeed in life.
An American original, he has lived life with gusto, extraordinary wit and wisdon.
Finally, he plans to give his wealth back to society, another of his many gestures of permanent value.« less