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Warren E. Buffett

   Legacy  10008301930


Welcome To The  Warren Buffett

  Personal Legacy on the Cloud   10008301930

  •   Arrived August 30, 1930 at Omaha, Nebraska
  •   Staring at Berkshire Hathaway worldwide

His life has been one of engagement and success with the business world in a manner and to a degree that few have previously attained.  A confidant of US Presidents and the rulers of Wall Street and big business, he has created a platform for himself and his ideas that rival the one achieved by Benjamin Franklin.  In a world populated by the likes of Bill Gates and Steve Jobs, he is the one known as the 'sage' or 'oracle' of business and finance.   When Warren Buffett elects to take over this personal legacy site as editor and admin he will have much more of value to share with the rest of us.  In the meantime here is our take on this remarkable American Icon. - Ed.

Warren Buffett

In The World of Investing the MVP – Most Valuable Player

Not Too Bold or Timid, Just A Superstar Investor

  • To every sport or game there comes from time to time a player ideally suited to best all others on many occasions.  In the money game Warren Buffett has proven to be that man.  While his few loses may be noteworthy, his successes are legendary – and by now so is he.

warren_buffett_ w Medal

  • To say that he was driven to work hard and to succeed at a very early age is an understatement.   Apparently he could attend to little else even before puberty set in.  With his  multiple small jobs, tasks and activities he entered the world of business as soon as he could – often with some success.  This carried on all the way through school and his early career.  That is just how it was.
  • At the same time, just like Benjamin Franklin, he strongly believed in careful analysis, caution, and thrift – and he made this strategy pay.  By the time he graduated from the University of Nebraska he had already created a small stake and was ready to go.  As his father was a stock broker, he naturally moved in that direction and chose business and the markets as his game.

college student 2

  • At Columbia University he got to learn about value investing and how to value a stock from, among others, Benjamin Graham whose point of view he much admired.  With an MBA in hand, and a sense of the markets, Warren Buffett was ready to take on the bumps and grinds of learning his trade in the cauldron of actual practice in the markets – and with some pain and some success in time he did.
  • Marriage to Susan Thompson and the subsequent birth of their three children: susie, warren and peter gave his life greater stability and even more reason to want to succeed.

The Early Buffett family

  • When his master, Ben Graham, closed his investment partnership business in New York, Warren, an employee at the firm, knew it was time to move on and return to Omaha to build a business of his own.  There he developed and managed multiple financial partnerships, which he ultimately merged into one to create a more viable and lasting success.   Over time he also invested in Berkshire Hathaway, a small textile manufacturing company he favored, and on its divestiture became its chairman. Today the same company, much redirected, expanded and world famous, is worth hundreds of billions of dollars.
  • In Omaha in the late nineteen fifties, Warren befriended Charlie Munger and the two have been close partners ever since.  This was the beginning of an effective management organization that grew and evolved to become a major force in the world of mergers, acquisitions and holding company management with Warren and Charlie at the helm.

Berkshire founders  -warren-buffett-munger

  • Warren Buffett believes that every business downturn, or good company in trouble, is an opportunity for his company.  That has been one of the keystones of his strategy and business success.  It is how, on separate occasions, he bought into: American Express, ABC, The Washington Post, Solomon Bros., Bank of America, Goldman Sacks Wells Fargo and even IBM among many others.  By buying at the right time on highly favorable terms, Warren Buffett gave his company the safety margin he knew is always needed for a good safe investment.
  • For fun and recreation Warren turns to sports, especially University of Nebraska football.  He also enjoys matching wits with others in contract bridge a game that requires careful thought, paying attention, much preparation, teamplay and much else.  Indeed, from time to time he has played bridge and even poker in the company of Bill Gates.

Bridge w Gates 2    w Gates Ping Pong

  • As one of the world’s richest men Warren Buffett is well aware of the fact that too much concentration of wealth and power by the few quickly impacts the prosperity and growth prospects of an entire society.  Therefore he is much in favor of inheritance taxes to reduce the number of sperm-blessed members of society.  He is also in favor of greater taxes on the ultra-rich, the top one percent on the US population that now own something close to fifty percent of everything.
  • Along with Mark Zuckerberg of Facebook and other billionaires he has pledged more than fifty percent of his sixty plus billion dollar net worth to charity as his Giving Pledge. In fact Warren Buffett intends to ultimately give away more than 99% of all he has to charity.  In part it is to reduce the burden and also to incentivise members of his family to greater personal achievement, by limiting their inheritance to millions and not billions.

Bill+Gates+Warren+Buffett Charlie rose

  • Warren Buffett has always been very suspicious of high technology.  Not because he fails to see its value, but instead because it tends to be so volatile and unpredictable.  Warren favors stability and sees the acceleration of technology in all aspects of business as the greatest single threat to the survival of the middle class; on which freedom, democracy and capitalism fully depend.
  • To Mr. Buffett it is clear that neither the rich nor the poor have much interest in democracy.  Indeed, for totally different reasons both shun democracy and only pay it lip service so as not to offend the majority.  The poor really do want socialism and welfare, not democracy.  The rich really want to control and manipulate the levers of power in a highly undemocratic way. So only a vibrant middle class can be the bulwark of democracy, to act as its proper protector.  As Warren Buffett sees it, if further advances in technology, artificial intelligence and automation threaten the livelihood of a good portion of the middle class, then they also threaten the survival of democracy in America and the world.

220px-Buffett_&_Obama

  • For these and other reasons Warren Buffett, billionaire, has been a staunch ally and supporter of the left leaning yet somewhat promarket president Barack Obama.  It truly seems a strange marriage.  That is until you get down to the specifics of: Healthcare, Women’s Rights, Effective Regulations, Progressive Taxation, Public Education, Rebuilding the US Infrastructure and much else on the national agenda.
  • Warren Buffett is a great story teller and he can spin a yarn with the best of them.  So he goes around the world telling his stories as the legendary Will Rodgers once did, to teach a valuable lesson or make an important observation or offer some much needed good advice.  There is a method to his madness and high value to his well camouflaged good counsel.

warren_buffett w Astrid Menks

  • Warren Buffett has given more that thirty billion dollars to the Bill & Melinda Gates Foundation which is a major force around the world to initiate and incentivize programs to cure Malaria and much else around the world.  So Warren Buffett has put his money up to back his ideas and his idealism and to help bring about a better world.  For all these gifts of mind, spirit and wealth we should all be grateful.
  • In a different world with a different sort of economy Warren Buffett might have grown to great success as a revered teacher, philosopher or wandering sage.  In our world with its chaotic markets, while the ‘Efficient Market Hypothesis’ may have failed Alan Greenspan, Warren Buffett has not, as he has nurtured much that is good for America.

visionary portrait of Buffett

  • To be smarter, wiser and a great player in the world of life is most commendable,  to be a major contributor to the well being of the few and the many is a greater thing indeed.  To leave behind a personal legacy of thoughtful insights and practical wisdom is the honored contribution of the very few.  Warren Buffett has earned his place in the pantheon of great business leaders and sages.

From Me To You - Personally

My Legacy Message

For Example Warren Buffett Might Remind Us That

  • "The best time to buy a company is when it's in trouble."
  • "Stocks have always come out of crises."
  • "Be greedy when others are fearful."
  • "Ignore politics and macroeconomics when picking stocks."
  • "The more you trade, the more you underperform."
  • "There are no bonus points for complicated investments."
  • Focus directly on what works best.
  • All sorts of change and drama will come and go in the world, so stick to the fundamentals.



Family Announcements & New Milestones

  • Good taxes are good, bad taxes are bad; so too with government regulations - Ed.
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