Warren Buffett – Financial Hero #2

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Warren Buffett & Bill Gates in an unusual photo

Ever since I graduated from College, Warren Buffett has been my one of my financial heros (my first financial hero is Benjamin Franklin).  He is the equivalent of a rock star in the financial world (a lunch with Warren has gone for over 1 million dollars on ebay).

Warren Buffett (aka The Oracle of Omaha) was born in 1930, and was the second of three children, and the only son of Leila and Howard Buffett.  It’s interesting to note that Warren’s dad was in the investment business, so I’m sure Warren had exposure to the financial markets at a very young age at least in some way or another.

Warren was always an entrepreneur, even from a pre-teen age.  Some of the business activities in Warren’s youth included selling gum and pop, paper boy, and a pinball leasing business.  He filed his first income tax return around the age of 13, the reasons was to take a deduction for the use of his bike and a watch in his newspaper boy business.

Why should Warren Buffett be a hero to us, especially the frugal crowd?

The main reason is because Warren is one of the frugal crowd!  Believe it or not, the man that could be the world’s richest man (Gates is suppose to be #1, but if you add up all their earnings over time, I believe Buffett is really the richest, but he gives a lot to charity), is frugal like us!

I believe Buffett is a guy that realized a long time ago that living large wasn’t going to make him any happier.  Which is probably why his house looks like it might run $350,000 or less… which is nothing compared to Bill’s house valued at $174 million.

Why I like Warren:

  • He doesn’t flaunt his wealth and shares it with charities
  • He’s very witty and fun to listen to during interviews
  • He’s like the ultimate warrior in the stock market, nobody comes close to his record.
  • He’s made his investors rich.
  • He’s frugal.

I also like the following quotes by him:

“If at first you succeed, quit trying.”

I take this to mean if you find something that works, let it run, don’t continually try to make it better, it’s very much like that old saying “if it ain’t broke, don’t fix it”

The first rule is not to lose. The second rule is not to forget the first rule.

Lol, this rule reminds me of “Fight Club”… The first rule of fight club is don’t talk about fight club… The 2nd rule of fight club is “DON”T TALK ABOUT FIGHT CLUB”

Someone’s sitting in the shade today because someone planted a tree a long time ago.

This quote helps to reminds me that to help my kids financially, I have to start investing for them while they are young…

If you ever listen to Warren Buffett, right away you will notice his folksy charisma.  He’s a guy that you could meet at a McDonalds and strike up a conversation about the weather (or anything).  No wonder he is a superstar in America (and other countries too for that matter).

-MR

9 thoughts on “Warren Buffett – Financial Hero #2”

  1. The one thing I really like about the big W.B. is that he doesn’t flaunt it. It is so refreshing to see someone who is internally content and instead of flaunting his wealth uses it to benefit others.
    .-= SeeJaneGetRich.com´s last blog ..See Jane Become a Millionaire =-.

  2. I like that about him too. I think that he’s a guy that anyone could talk to and be comfortable. You could be a waitress at hooters or the President of the United States… I bet Warren would still the same witty caring guy.

    What I’m impressed with is his drive. He always said he know he would be rich from a very young age. And he stuck to it! I bet he didn’t foresee himself being one of the richest people in the U.S. though 🙂

    I also like that he stuck with people he knows… He could have outgrown them and live in some posh location, but he doesn’t. He still goes to his favorite restaurant in Nebraska, and talks to the people that know and love him. In ways, he’s very much like the Benjamin Franklin of our times (minus the inventing of stuff and politics).

  4. I was pretty excited when CNBC had that Warren and Bill at Columbia special!

    I really like watching Warren Buffett speak! He is such an witty American icon, and is flows so naturally for him!

    Followed your link and you have some great quotes from the interview! Good to see you are a fan of Warren’s too!:)

  5. I agree, Buffett is a legend. Another thing I like about him is he’s old! A good inspiration – perhaps all that reading company reports and looking forward to 20 years of long-term compound interest growth gives your body a reason to push on? 😉
    .-= Monevator´s last blog ..Playing chicken with house prices =-.

    • Yeah, and still, he’s as sharp as they come! An inspiration for us all to keep our minds fit! Apparently the mental workouts he goes through to select companies has kept him sharp. That, and possible the bridge card game that he enjoys playing so much (Buffett got Gates hooked too)…

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