2006-11-24 10:26:45 · 4 answers · asked by David 2 in Business & Finance ➔ Investing
Warren started in insurance, investing the premiums in the best stocks, commodities he could find. He seldom if ever sells (trades) those stocks but continues to hold while investing the dividends in further acquisitions.
Remember the addage about getting wealthy by using other peoples money.
Recently though, I read he got burned for around a billion shorting the US$. Maybe that is why he is not a trader where you not only need to anticipate the direction of the market but when to squeeze the trigger.
George Soros successfully shorted the Pound more than a decade ago but the printing presses were perhaps a lot slower then.....
2006-11-24 12:31:41 · answer #1 · answered by roger e 1 · 0⤊ 0⤋
Buffett established Buffett Associates, Ltd., his first investment partnership, in 1956. It was financed by $100 from Buffett, the general partner, and $105,000 from seven limited partners consisting of Buffett's family and friends. In 1962 Buffett Partnerships began purchasing shares of Berkshire Hathaway, a large manufacturing company in the declining textile industry that was selling below its working capital. Buffett would eventually dissolve all his partnerships to focus on running Berkshire Hathaway. As of 2005, Buffett owns 38% of Berkshire Hathaway. Berkshire's Vice-Chairman Charlie Munger also holds a stake big enough to make him a billionaire, and early investments in Berkshire by David Gottesman and Franklin Otis Booth resulted in their becoming billionaires as well
2006-11-24 10:40:27 · answer #2 · answered by Middleclassandnotquiet 6 · 0⤊ 0⤋
Warren Buffett started buying stocks at like age 11. There was just a special on T.V. about him day before last. He got the money for the stocks by delivering news papers and selling soda that his uncle sold him.
2006-11-24 10:37:00 · answer #3 · answered by shaman 4 · 0⤊ 0⤋
He didn't buy it, he started it.
2006-11-24 10:33:49 · answer #4 · answered by Judy 7 · 2⤊ 1⤋