On Heralds this week is …..….
Warren Edward Buffet
investment was really ignited after reading a book by Benjamin Graham. He obtained a masters degree in Economics at Columbia Business School. Buffet eventually got the opportunity to work with Benjamin Graham at his brokerage but this was after he was rejected though. At the retirement of Benjamin Graham, he returned to Omaha. He then established the Buffet Associates Ltd in 1956 which was financed with $100 by himself and general partners and $105,000 from seven limited members consisting of his family members and friends more partners were added and the partnership was later consolidated as Buffet Partnership Ltd.
In 1962, Buffet partnership started purchasing shares of Berkshire Hathaway a large manafucturing company in the textile industry people like the then vice chairman of Berkshire Hathaway thought the purchase was a mistake since the company selling below its working capital at that time. Buffet had to dissolve his partnership to focus on running the newly acquired Berkshire which grew into one of the largest holding companies in the world due to Buffet ‘s strategy of redirecting the companies excess cash to acquire private businesses and stocks from public companies.
Buffet once said ” I want to give my kids enough so that they could feel they could do anything, but not so much that they could do nothing”. In essence Buffet does not believe in the transfer of fortune from a generation to another.intact most of his wealth goes for charity through foundations like Bill and Melinda Gates foundation, Susan Thompson Buffet’s Foundation, Buffet foundation and three other foundations headed by his three children. Buffet believes that the society has a great role to play his wealth hence giving back to the society through philanthropic living wasn’t an issue to him. Buffet is still alive and doing fine.
No man is perfect but you can always learn something from everyman you meet. Two things to learn from buffet….
1. Never you permit age to stand as a barrier to your fulfilling purpose, start early and be ready to push through all the odds that may come your way. Rise if you ever fall.
2. Givers never lack holds everywhere, always look for opportunity to be a blessing to lives cause its a privilege.
Its being Heralds with Julius O. Akubo on Treasure network. catch you next week.