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Warren Buffett<br />

Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor, and philanthropist. He is widely<br />

considered the most successful investor of the 20th century. Buffett is the primary shareholder, chairman and CEO of<br />

Berkshire Hathaway and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest<br />

person in 2008 and as the third wealthiest person in 2011. In 2012, American magazine Time named Buffett one of the most<br />

influential people in the world.<br />

Buffett is called the "Wizard of Omaha", "Oracle of Omaha", or the "Sage of Omaha" and is noted for his adherence to the<br />

value investing philosophy and for his personal frugality despite his immense wealth. Buffett is also a notable<br />

philanthropist, having pledged to give away 99 percent of his fortune to philanthropic causes, primarily via the Gates<br />

Foundation. On April 11, 2012, he was diagnosed with prostate cancer, for which he completed treatment in September 2012.<br />

Our favorite holding period is forever.<br />

Buffett’s speeches are known for mixing business discussions with humor. Each year, Buffett presides over Berkshire<br />

Hathaway’s annual shareholder meeting in the Qwest Center in Omaha, Nebraska, an event drawing over 20,000 visitors from<br />

both United States and abroad, giving it the nickname “Woodstock of Capitalism”. Berkshire’s annual reports and letters to<br />

shareholders, prepared by Buffett, frequently receive coverage by the financial media. Buffett’s writings are known for<br />

containing quotations from sources as ranging between the Bible and Mae West, as well as advice in a Midwestern folk style,<br />

and numerous jokes.<br />

What the wise do in the beginning, fools do in the end.<br />

Page 187<br />

Abhi Sharma

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