Warren Buffet, the Oracle of Omaha, has become legendary for his investing prowess. It’s a skill that he has developed from his childhood. Here are the top 10 facts you might not know about Buffett that help to explain his success, courtesy of Quora.
- Buffett worked hard even as a kid. So did his partner. Buffett and Bekshire Hathaway vice chairman Charlie Munger toiled in the same grocery store in Omaha during their teens, but at different times.
- Buffett doesn’t waste time on computers, including Bloomberg terminals. Buffett is a Luddite. His office has no computers, let alone a Bloomberg terminal. Buffett continues to be a fan of paper printouts.
- Buffett doesn’t waste money buying new cars every year. Buffett waited 8 years before replacing his 2006 Cadillac DTS with his 2014 Cadillac XTS. He donated the DTS, which then sold for $122,500 in a February charity auction.
- He can learn from anyone, anytime, anywhere.
Breaking Bad‘s Walter White is a great business man, says Buffett. - Buffett studies business and investing classics. Buffett’s recommended reading list includes: “John Bogle on Investing: The First 50 Years
” by John C. Bogle; “Benjamin Graham on Value Investing: Lessons from the Dean of Wall Street” by Janet Lowe; “Jack: Straight from the Gut”
by Jack Welch; “Essays In Persuasion
” by John Maynard Keynes.
- Buffett has always, and we mean always, paid only what he must on taxes. On his first income tax return in 1944, a very young Buffett took a $35 deduction for the use of his bike and watch on his paper route.
- Buffet began investing very early. At age 11, Buffett bought himself and his sister each three shares of Cities Service Preferred for $38 each.
- Buffett recognized his own strengths early on. Buffett’s high school yearbook photo read: “likes math: a future stock broker.”
- Buffett was always generous, especially to his estranged wife and maintained a friendly if unusual relationship with her. Susan Buffett, Buffett’s first wife, introduced his his second wife Astrid Menks. Susan, who remained married to Buffett until her death in 2004, encouraged Menks to care for her husband when she moved to San Francisco in the late 1970s. Friends often received cards signed: Warren, Susie and Astrid.
- Buffett has a wacky sense of humor. The cherry Coke drinking octogenarian sings goofy songs on his ukalele in public. He also has his own running shoe, designed by Brooks, despite the fact that he doesn’t run.
Photo: Aaron Friedman via Flickr.