The Spirit of Warren Buffett : I get to do what i Like to do every single day of the year

Quotes :

  " I get todo what i Like to do every single day of the year"

The Times of  Warren Buffett :

Business career

In 1957, Buffett had three partnerships operating the entire year. He purchased a five-bedroom stucco house in Omaha, where he still lives, for $31,500. In 1958 the Buffetts' third child, Peter Andrew Buffett, was born. Buffett operated five partnerships the entire year. 

In 1959, the company grew to six partnerships operating the entire year and Buffett was introduced to Charlie Munger. By 1960, Buffett had seven partnerships operating: Buffett Associates, Buffett Fund, Dacee, Emdee, Glenoff, Mo-Buff and Underwood. He asked one of his partners, a doctor, to find ten other doctors willing to invest $10,000 each in his partnership.

 Eventually eleven agreed, and Buffett pooled their money with a mere $100 original investment of his own. In 1961, Buffett revealed that Sanborn Map Companyaccounted for 35% of the partnership's assets. He explained that in 1958 Sanborn stock sold at only $45 per share when the value of the Sanborn investment portfolio was $65 per share. 

This meant that buyers valued Sanborn stock at "minus $20" per share and were unwilling to pay more than 70 cents on the dollar for an investment portfolio with a map business thrown in for nothing. This earned him a spot on the board of Sanborn.

Books on Warren Buffett :



About the Author

CAROL J. LOOMIS is a senior editor-at-large at Fortune, where she has worked since 1954. She has been the magazine’s expert on Warren Buf­fett since 1966 and has edited his annual letter to shareholders since 1977. Her many honors include five lifetime achievement awards, including a Gerald Loeb Award for business journalism and Time Inc.’s first-ever Henry Luce Award. This is her first book. She lives in Westchester County.

• About the Publisher
•  Portfolio Hardcover (21 November 2012)
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