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Warren Buffet
 Warren Buffet is a legend among stock market investors. His current
estimated worth is around $42 billion and he is thought to be the second richest
person in the entire world. But despite all of his wealth, Warren Buffet has an
extremely frugal and simple lifestyle. He still lives in the gray stucco house
in Omaha that he bought in 1957 for the princely sum of $1500.
 Not one for dining
out at fine restaurants unless absolutely necessary, Warren
Buffet is reputed to usually eat burgers, steaks and
Coca-Cola for his meals. His salary as chairman from his job at Berkshire
Hathaway earns him a mere $100,000 a year. The one trapping of wealth that he
does own is a Gulf stream IV-SP jet.
 He is quite different to the usual idea of the super trader making enormous
investments based on a slight movement of the markets in anticipation of a huge
rise or fall. Warren
Buffet is renowned for looking to the long-term. He
tends to look for companies to invest in that are a little undervalued with
relatively low costs, but which have the ability to increase in size and also
have a good share of their market.
 Where most traders focus on short to medium term gains for their clients, Warren
Buffet seems
to operate almost exclusively on a long-term basis.
 This however has brought him an incredible amount of wealth. When everybody
was investing in high-tech stocks in the late 80s, Warren
Buffet bought in to Coca-Cola, which
was at the time a very unfashionable stock. He saw the potential in that they
were known all over the world and instantly recognizable. In the five years
after he bought the stock it increased more than 700%.
Warren Buffet has all but ignored technology and Internet stocks. Even though
the market was going ballistic with shares rising ever higher, he preferred to
stay with stocks where he could actually see what the company made and had a
rough idea of where it was going.
 Warren Buffet is a traditional, some would say old-fashioned
investor who
has proved that good basic strategies in research and looking to the long-term
rather than for quick gains, is a good way to steadily build a massive fortune.
And by never investing in things that he didn't understand or could not see the
potential in, just because they appeared to be the idea of the time, he has
managed to avoid a lot of the losses that other people have suffered.
Warren Buffet always
remained steady and is still building a progressive growth in the value of his
stocks. And despite eschewing the newer technology and Internet stocks that most
are investing in, he looks set to continue.
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