Why did Buffett become a stock god?

1930 On August 30th, Warren Buffett was born in Omaha, Nebraska, USA. Warren Buffett has a strong sense of investment since he was a child. He likes stocks and numbers better than anyone in his family. He is very rich. When he was five years old, he set up a stall at home to sell chewing gum. A little bigger, he led his friends to the stadium to pick up big second-hand golf balls and then resell them. Business is quite prosperous. When he was in middle school, he not only worked as a newsboy after school, but also partnered with his partner to rent a pinball game machine to a barber shop owner to earn extra money. \x0d\ [2] 194 1 year, just turned 1 1 year, he jumped into the stock market and bought the first stock in his life. \x0d\ 1947, Warren Buffett entered the University of Pennsylvania to study finance and business management. However, he felt that the professors' short theories were not enough. Two years later, he transferred to the University of Nebraska, Lincoln, and received a bachelor's degree in economics within one year. \x0d\ 1950 Buffett's application for Harvard University was rejected. He was admitted to Columbia University Business School and studied under the famous investment theorist Benjamin Graham. Under Graham, Buffett is at home. Graham opposes speculation and advocates evaluating stocks by analyzing the profitability, assets and future prospects of enterprises. He taught Buffett a lot of knowledge and know-how. \x0d\ 195 1 year, Buffett, aged 2 1 year, obtained a master's degree in economics from Columbia University. When he graduated, he got the highest A+. \x0d\ 1952, Buffett and Susan Thompson are married, and their parents are old friends for many years. When studying at Northwest University, Susan and Buffett's sister Roberta were roommates in the same dormitory. When Buffett dropped in on her and proposed to her, Susan left the university and married him. Mrs Buffett grew up only one and a half blocks from her present home. \x0d\ 1957, Buffett's capital reached $300,000, but it rose to $500,000 by the end of the year. \x0d\ 1962, the capital of Buffett's partner company reached 7.2 million USD, of which 1 10,000 USD belongs to Buffett himself. At that time, he merged several partner enterprises into a "Buffett Partners Limited". The minimum investment has been expanded to more than 654.38 million dollars. The situation is a bit like the private equity fund or private equity investment company in China now. \x0d\ 1964, Buffett's personal wealth reached $4 million, and at this time he was in charge of funds as high as $22 million. \ x0d \1in the spring of 966, the American stock market was bullish, but Buffett was on pins and needles. Although his stock is soaring, he finds it difficult to find cheap stocks that meet his standards. Although the crazy investment in the stock market has brought speculators a windfall, Buffett is unmoved because he believes that the price of stocks should be based on the growth of company performance rather than speculation. \x0d\ 1967 10, Buffett's funds reached $65 million. \x0d\ 1968, Buffett's stock achieved the best result in history: it rose by 46%, while the Dow Jones index rose by 9%. Buffett's funds rose to $6.5438+0.04 million, of which $25 million belonged to Buffett. \ x0d \1968 In May, when the stock market was celebrating all the way, Buffett informed his partner that he was retiring. Subsequently, he gradually liquidated almost all the shares of Buffett Partners. \ x0d \1June, 969, the stock market plummeted and gradually evolved into a stock market crash. By May 1970, every stock had fallen by 50% or more than at the beginning of the year. \x0d\ 1970 ~ 1974, the American stock market is like a deflated ball with no vitality. Sustained inflation and low growth have brought the American economy into a period of stagflation. However, Buffett, who was once lost, was secretly glad to see the money coming-he found too many cheap stocks. \x0d\ 1972, Buffett is eyeing the newspaper industry again, because he found that owning a famous newspaper is like owning a toll bridge, and any passerby should leave money to build roads. Starting from 1973, he stole the Boston Globe and Washington post from the stock market, and his involvement greatly increased Washington post's profits, with an average annual increase of 35%. After 10 years, Buffett's investment of 10 million dollars rose to 200 million. \x0d\ 1980 He bought a 7% stake in Coca-Cola for $65,438+200 million at a unit price of $0/0.96 per share. By 1985, Coca-Cola changed its business strategy and began to withdraw funds and invest in beverage production. The unit price of its shares has risen to $5 1.5, a fivefold increase. As for how much money has been earned, this figure can shock investors all over the world. \ x0d \ 1992 1992 In mid-1992, Buffett bought 4.35 million shares of General Dynamics, an American high-tech defense industry company, at a price of $74 per share. By the end of the year, the share price rose to 1 13 yuan. Buffett's stock worth $322 million six months ago is now worth $49 1 10,000. By the end of 1994, it had developed into a Berkshire industrial kingdom with $23 billion. It is no longer a spinning mill, but has become Buffett's huge investment and financial group. From 1965 to 1998, Buffett's stock grew by an average of 20.2% every year, which was 0 percentage point higher than the Dow Jones index 1. 1. If anyone invests 10000 dollars in Buffett's company in 1965, he will get a return of $4.33 million through 1998. In other words, whoever chose Buffett 33 years ago was on the rocket to get rich. \ x0d \ 2000 March 1 1 day, 2000, Buffett published this year's annual letter on the website of Berkshire-a heavy letter. The data shows that the net income of Berkshire, the investment fund group chaired by Buffett, fell by 45% last year, from $2.83 billion to $654.38+$55.7 million. Berkshire's A-share price fell by 20% last year, which was the only decline in the 1990s. At the same time, Berkshire's book profit only increased by 0.5%, which was far lower than the growth of Standard & Poor's 2 1 in the same period, which was the first time since 1980. \ x0d \ 2004 August 26th, 2004, Susan Buffett, the wife of Warren Buffett, died of a stroke while visiting friends with him. Susan Buffett, with a fortune of $3 billion or a 2.2% stake in Berkshire Hathaway, died at the age of 72. Mr. and Mrs. Buffett got married in 1952, but since 1977, when Susan moved from her hometown to San Francisco to develop her music career, they began to live apart. The two never announced their divorce. They often travel together, and Susan often attends the shareholders' meeting of the company held in Omaha, her hometown. \ x0d \ On the evening of March 1 2007, Berkshire Hathaway, the flagship investment company of Warren Buffett, announced its financial year 2006 results. The data shows that due to the hurricane "breaking promises", the company's main insurance business achieved profitability, and Berkshire's profit increased by 29.2 last year. Earnings per share were $765,438+044 ($5,338 in 2005). \x0d\ 1965~2006, the average annual growth rate of Berkshire's net assets reached 2 1.46%, with a cumulative increase of 361156%; In the same period, the average annual growth rate of S&P 500 companies was 65,438+00.4%, and the cumulative growth rate was 64.79%. \x0d\ Buffett is the greatest investor ever. By investing in the stock market and foreign exchange market, he has become one of the richest people in the world. The value investment theory advocated by him is popular all over the world. Value investment is not complicated. Buffett once summed it up as three points: treating stocks as many miniature business units; Treat market fluctuations as your friends rather than enemies (profits sometimes come from loyalty to friends); The price of buying stocks should be lower than you can afford. "In the short term, the market is a voting calculator. But in the long run, it is a weighing machine "-in fact, it is not difficult to master these ideas, but few people can persist for decades like Buffett. "Buffett never seems to try to make money from stocks. He bought the stock on the assumption that the stock market would close the next day or would not reopen for five years. According to the value investment theory, once you see the market fluctuation and think it is profitable, investment becomes speculation, and nothing affects investment more than gambling mentality. \x0d\ Buffett announced on June 25th, 2006 that he would donate more than $30 billion in private wealth to charity. This huge sum will be donated to the charity foundation founded by Bill Gates and the Buffett Family Foundation respectively. Buffett's donation exceeds $30 billion, which is by far the largest private charitable donation in the United States. \x0d\ The Gates Foundation issued a statement saying: "We are flattered by the decision of our friend Warren Buffett. He chose to donate most of his wealth to the Bill and Melinda Gates Foundation to solve the most challenging inequality problem in the world. "\x0d\ In addition, Buffett will donate 6,543,800 shares to the charity fund established for his deceased wife and 350,000 shares to the charity fund for his three children. \x0d\ Buffett is called "the most respectable person except his father" by Americans. \x0d\ [1] Buffett's investment legend \x0d\ In the biography of Buffett written by Roger lovins Tan, the first article is a short article by Bill Gates, the richest man in the world. Gates wrote: "His jokes are funny, and his diet-lots of hamburgers and cokes-is excellent. Anyway, I am a fan of Buffett. "Gates is really a fan of Buffett. He firmly remembers Buffett's investment theory: buy stocks at the lowest price and wait patiently. Don't expect to do big business. If the price is low, even medium-sized enterprises can make a lot of money. \x0d\ 20 10 Warren? Warren Buffett (USA) ranked third on Forbes list with a net worth of $47 billion.