The Spirit of Warren Buffett : Money, to some extent, sometimes lets you be in more interesting environment. But it cnt change how many people ove you or how healthy you are .

Quotes :

  "Money, to some extent, sometimes lets you be in more interesting environment. 
But it cnt change how many people ove you or how healthy you are ."

The Times of Warren Buffett :

Style

Buffett's speeches are known for mixing business discussions with attempts at humor. 

Each year, Buffett presides over Berkshire Hathaway's annual shareholder meeting in the Qwest Center in Omaha, Nebraska, an event drawing over 20,000 visitors from both United States and abroad, giving it the nickname "Woodstock of Capitalism".Berkshire's annual reports and letters to shareholders, prepared by Buffett, frequently receive coverage by the financial media.

 Buffett's writings are known for containing quotations from sources as ranging between the Bible and Mae West,as well as advice in a Midwestern folk style, and numerous jokes.

Books on warren Buffett :

Author : Jeff Mathews

The Spirit of Warren Buffett : ".......Energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks. "

Quotes :
 ".......Energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks. "

The Times of Warren Buffett :

Writings

Warren Buffett's writings include his annual reports and various articles. Buffett is recognized by communicators as a great story-teller, as evidenced by his annual letters to shareholders. He warned about the pernicious effects of inflation:

The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enacted by our legislatures. The inflation tax has a fantastic ability to simply consume capital. It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation, or pays no income taxes during years of 5 percent inflation.

—Buffett, Fortune (1977)

In his article "The Superinvestors of Graham-and-Doddsville", Buffett rebutted the academic Efficient-market hypothesis, that beating theS&P 500 was "pure chance", by highlighting the results achieved by a number of students of the Graham and Dodd value investing school of thought. In addition to himself, Buffett named Walter J. Schloss, Tom Knapp, Ed Anderson (Tweedy, Brown Inc.), William J. Ruane(Sequoia Fund, Inc.), Charles Munger (Buffett's own business partner at Berkshire), Rick Guerin (Pacific Partners, Ltd.), and Stan Perlmeter (Perlmeter Investments).In his November 1999 Fortune article, he warned of investors' unrealistic expectations:

Let me summarize what I've been saying about the stock market: I think it's very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they've performed in the past 17. If I had to pick the most probable return, from appreciation and dividends combined, that investors in aggregate—repeat, aggregate—would earn in a world of constant interest rates, 2% inflation, and those ever hurtful frictional costs, it would be 6%!

—Buffett, Fortune (1999)

Books on warren Buffett :



Author : Robert P. Miles
Publisher :John Wiley and Sons [March 2004],

The Spirit of Warren Buffett :" The Rich invest in Time, The poor invest in Money "

Quote :
 " The Rich invest in Time,
    The poor invest in Money "

The Times of Warren Buffett :

Politics

Buffett and President Obama at the Oval Office, July 14, 2010

In addition to other political contributions over the years, Buffett has formally endorsed and made campaign contributions to Barack Obama's presidential campaign. On July 2, 2008, Buffett attended a $28,500 per plate fundraiser for Obama's campaign in Chicago hosted by Obama's National Finance Chair, Penny Pritzker and her husband, as well as Obama advisorValerie Jarrett. 

Buffett backed Obama for president, and intimated that John McCain's views on social justice were so far from his own that McCain would need a "lobotomy" for Buffett to change his endorsement. 

During the second 2008 U.S. presidential debate, candidates John McCain and Barack Obama, after being asked first by presidential debate mediator Tom Brokaw, both mentioned Buffett as a possible future Secretary of the Treasury.Later, in the third and final presidential debate, Obama mentioned Buffett as a potential economic advisor.Buffett was also finance advisor to California RepublicanGovernor Arnold Schwarzenegger during his 2003 election campaign.

Books on warren Buffett :




- செல்லமுத்து குப்புசாமி

புத்தகத்தின் பின் பக்க வரிகள் கீழே..

******

உங்களிடம் 100 ரூபாய் உள்ளது. இதை 100 கோடி ரூபாயாக மாற்றும் வழி தெரியுமா உங்களுக்கு? வாரன் பஃபட்டின் வாழ்க்கையைக் கவனமாகப் படியுங்கள். கொஞ்சம் கொஞ்சமாகப் பணம் குவிக்கும் டெக்னிக்குகள் உங்களிடமிருந்தே உற்பத்தியாக ஆரம்பிப்பதை உணர்வீர்கள். இந்த உலகமகா பணக்காரரின் வெற்றி ரகசியங்கள் மிகவும் வெளிப்படையானவை. உங்களை வாரிச் சுருட்டி பாக்கெட்டில் போட்டுக்கொள்ளப்போகிற வாழ்க்கை வரலாறு இது.

ஷேர் மார்க்கெட்டா? அது சூதாட்டமாச்சே! என்று எல்லோரும் பிரசாரம் செய்து கொண்டிருந்த காலத்தில், இல்லை, அது ஒரு அறிவியல் பூர்வமான முதலீடு. யார் வேண்டுமானாலும் அதில் பணத்தைக் குவிக்க முடியும் என்பதைத் தெள்ளத் தெளிவாக எடுத்துச் சொன்னவர் வாரன் பஃபட்.
சொன்னது மட்டுமல்ல, தன் வாழ்நாளில் அதைச் செய்தும் காட்டினார். வெறும் 100 டாலர் பணத்தோடு ஷேர் மார்க்கெட்டுக்குள் நுழைந்தார் வாரன். ஆனால், இன்று அவரிடம் இருக்கும் பணத்தின் மதிப்பு பல பில்லியன் டாலர்கள்.
ஷேர் மார்க்கெட்டுக்குள் நுழைந்து நாலு காசு சம்பாதிக்க நமக்கு முதலில் என்ன தெரிய வேண்டும்? லாபம் தரும் கற்பகத் தரு மாதிரியான கம்பெனிகளின் ஷேர்களைக் கண்டுபிடிப்பது எப்படி? என்ன விலையில் ஒரு ஷேரை வாங்கலாம்? அல்லது விற்கலாம்? கையைக் கடிக்காமல் இருக்கும் கலையைக் கற்றுக் கொள்வது?

பொருளாதாரச் சூத்திரங்களின் பின்னால் ஒளிந்து கொள்ளாமல், வரைபடம் வரைந்து தலையைச் சுற்ற வைக்காமல், பட்டியல் போட்டுச் சாகடிக்காமல், ஷேர் மார்க்கெட்டின் சிதம்பர ரகசியங்களை ஒரு குழந்தைக்குச் சொல்லிக் கொடுக்கிற மாதிரி கற்றுத் தரும் பங்குச் சந்தை சூப்பர் ஸ்டாரின் வெற்றிக் கதை இது.

The Spirit of Warren Buffett : You do things when the opertunities come along. I ve had periods in my Life when i ve had bundle of ideas come along, and i ve had long dry spells. If i get an idea next week, i 'll do something. If not i wont do a damn thing."

Quotes :
  "You do things when the opertunities come along.
 I ve had periods in my Life
 when i ve had bundle of ideas come along, 
and i ve had long dry spells.
If i get an idea next week, i 'll do something.
If not i wont do a damn thing."

The Times of Warren Buffett :
Personal Life 

His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in comparable companies. In 2007 and 2008, he earned a total compensation of $175,000, which included a base salary of just $100,000.

 He lives in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, today valued at around $700,000 (although he also owns a $4 million house in Laguna Beach, California). In 1989, after having spent nearly $6.7 million of Berkshire's funds on aprivate jet, Buffett named it "The Indefensible". This act was a break from his past condemnation of extravagant purchases by other CEOs and his history of using more public transportation.

Buffett is an avid player of bridge, which he plays with fellow fan Gates. He spends 12 hours a week playing the game. In 2006, he sponsored a bridge match for the Buffett Cup. Modeled on the Ryder Cup in golf, held immediately before it, and in the same city, a team of twelve bridge players from the United States took on twelve Europeans in the event.

 He is a dedicated, lifelong follower of Nebraska football, and attends as many games as his schedule permits. He supported the hire of Bo Pelini following the 2007 season stating, "It was getting kind of desperate around here". He watched the 2009 game against Oklahoma from the Nebraska sideline after being named an honorary assistant coach.

Warren Buffett worked with Christopher Webber on an animated series with chief Andy Heyward, of DiC Entertainment, and then A Squared Entertainment.

 The series features Buffett and Munger, and teaches children healthy financial habits for life.Buffett was raised Presbyterian but has since described himself as agnostic.

 In December 2006 it was reported that Buffett does not carry a cell phone, does not have a computer at his desk, and drives his own automobile,a Cadillac DTS.Buffett reads five newspapers every day, beginning with the Omaha World Herald, which his company bought in 2011. He wears tailor-made suits from the Chinese labelTrands; earlier he wore Ermenegildo Zegna.


Books on warren Buffett :




 Author :Jeff Matthews,

 Publishers : New York: McGraw Hill; 2009, 298 pages.

The Spirit of Warren Buffett : Never depend on Single Income. Make investments to create a Second Source

Quotes :
 "Never depend on Single Income.
 Make investments to create a Second Source "

The Times of Warren Buffett :

 Under Recession ...

In 2009 Buffett divested his failed investment in ConocoPhillips, saying to his Berkshire investors,

I bought a large amount of ConocoPhillips stock when oil and gas prices were near their peak. I in no way anticipated the dramatic fall in energy prices that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current $40–$50 price. But so far I have been dead wrong. Even if prices should rise, moreover, the terrible timing of my purchase has cost Berkshire several billion dollars.

The merger with the Burlington Northern Santa Fe Railway (BNSF) closed upon BNSF shareholder approval in 1Q2010. This deal was valued at approximately $34 billion and represented an increase of the previously existing stake of 22%.^{[citation needed]}

In June 2010 Buffett defended the credit-rating agencies for their role in the US financial crisis, claiming that:

Very, very few people could appreciate the bubble. That's the nature of bubbles – they're mass delusions.

On March 18, 2011, Goldman Sachs was given Federal Reserve approval to buy back Berkshire's preferred stock in Goldman. Buffett had been reluctant to give up the stock, which averaged $1.4 million in dividends per day, saying:

I'm going to be the Osama bin Laden of capitalism. I'm on my way to an unknown destination in Asia where I'm going to look for a cave. If the U.S. Armed forces can't find Osama bin Laden in 10 years, let Goldman Sachs try to find me.

In November 2011, it was announced that over the course of the previous eight months, Buffett had bought 64 million shares of International Business Machine Corp (IBM) stock, worth around $11 billion. This unanticipated investment raised his stake in the company to around 5.5 percent—the largest stake in IBM alongside that ofState Street Global Advisors. Buffett had said on numerous prior occasions that he would not invest in technology because he did not fully understand it, so the move came as a surprise to many investors and observers. During the interview, in which he revealed the investment to the public, Buffett stated that he was impressed by the company's ability to retain corporate clients and said, "I don't know of any large company that really has been as specific on what they intend to do and how they intend to do it as IBM."

In May 2012 Buffett's acquisition of Media General, consisting of 63 newspapers in the south-eastern U.S., was announced.The company was the second news print purchase made by Buffett in one year.

Interim publisher James W. Hopson announced on July 18, 2013 that the Press of Atlantic City would be sold to Buffett’s BH Media Group by ABARTA, a private holding company based in Pittsburgh, U.S. At the Berkshire shareholders meeting in May 2013, Buffett explained that he did not expect to "move the needle" at Berkshire with newspaper acquisitions, but he anticipates an annual return of 10 percent. The Press of Atlantic City became Berkshire's 30th daily newspaper, following other purchases such as Virginia, U.S.' Roanoke Times and The Tulsa World in Oklahoma, U.S.

During a presentation to Georgetown University students in Washington, D.C. in late September 2013, Buffett compared the U.S. Federal Reserve to a hedge fund and stated that the bank is generating “$80 billion or $90 billion a year probably” in revenue for the U.S. government. Buffett also advocated further on the issue of wealth equality in society:

We have learned to turn out lots of goods and services, but we haven’t learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.

Books on Warren Buffett :

• Publisher: Pylon Publishing (29 July 2012)
• 
  

The Spirit of Warren Buffett :" Without Passion You dont have Energy. With out Energy ,you have nothing "

Quotes :

" Without Passion You dont have Energy.
   Without  Energy ,you have nothing "



The Times of  Warren Buffett :

 Under Recession ...

In October 2008 the media reported that Buffett had agreed to buy General Electric (GE) preferred stock. The operation included special incentives: He received an option to buy 3 billion of GE stock, at $22.25, over the five years following the agreement, and Buffett also received a 10% dividend (callable within three years). In February 2009 Buffett sold some of the Procter & Gamble Co. and Johnson & Johnson shares from his portfolio.

In addition to suggestions of mistiming, the wisdom in keeping some of Berkshire's major holdings, including the Coca-Cola Company (NYSE:KO) which in 1998 peaked at $86, was questioned. Buffett discussed the difficulties of knowing when to sell in the company's 2004 annual report:

That may seem easy to do when one looks through an always-clean, rear-view mirror. Unfortunately, however, it's the windshield through which investors must peer, and that glass is invariably fogged.

In March 2009, Buffett said in a cable television interview that the economy had "fallen off a cliff ... Not only has the economy slowed down a lot, but people have really changed their habits like I haven't seen". Additionally, Buffett feared that inflation levels that occurred in the 1970s—which led to a painful stagflation that lasted many years—might re-emerge.

In 2009 Buffett invested $2.6 billion as a part of Swiss Re's campaign to raise equity capital. Berkshire Hathaway already owned a 3% stake, with rights to own more than 20%. Also in 2009, Buffett acquiredBurlington Northern Santa Fe Corp. for $34 billion in cash and stock. Alice Schroeder, author of Snowball, said that a key reason for the purchase was to diversify Berkshire Hathaway from the financial industry. Measured by market capitalization in the Financial Times Global 500, Berkshire Hathaway was the eighteenth largest corporation in the world as of June 2009.

Books on Warren Buffett :

The Spirit of Warren Buffett :" I made my first Investment at age eleven. I was wasting my life up until then "

Quotes :

" I made my first Investment at age eleven.
   I was wasting my life up until then "
The Times of  Warren Buffett :

 Under Recession in 2007...

Buffett ran into criticism during the subprime crisis of 2007–2008, part of the recession that started in 2007, that he had allocated capital too early resulting in suboptimal deals. "Buy American. I am." he wrote for an opinion piece published in the New York Times in 2008

 Buffett called the downturn in the financial sector that started in 2007 "poetic justice".^[Buffett's Berkshire Hathaway suffered a 77% drop in earnings during Q3 2008 and several of his later deals suffered large mark-to-market losses.

Berkshire Hathaway acquired 10% perpetual preferred stock of Goldman Sachs. Some of Buffett's Index put options (European exercise at expiry only) that he wrote (sold) were running at around $6.73 billion mark-to-market losses as of late 2008.

The scale of the potential loss prompted the SEC to demand that Berkshire produce, "a more robust disclosure" of factors used to value the contracts. Buffett also helped Dow Chemicalpay for its $18.8 billion takeover of Rohm & Haas.

 He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided $3 billion, underlining his instrumental role during the current crisis in debt and equity markets.

In 2008 Buffett became the richest person in the world, with a total net worth estimated at $62 billion by Forbesand at $58 billionby Yahoo, overtaking Bill Gates, who had been number one on the Forbes list for 13 consecutive years. In 2009 Gates regained the top position on the Forbes list, with Buffett shifted to second place.

 Both of the men's values dropped, to $40 billion and $37 billion respectively—according to Forbes, Buffett lost $25 billion over a 12-month period during 2008/2009.

Books on Warren Buffett :

.Author :Charles R. Morris
 Publishers : Public Affairs

• 
  

The Spirit of Warren Buffett :"Things you like to do should be a hobby of yours. But things the world does should Be a business of yours,"

Quotes :

"Things you like to do should be a hobby of yours.
But things the world does should
Be a business of yours,"

The Times of  Warren Buffett :
As a billionaire

Buffett became a billionaire on paper when Berkshire Hathaway began selling class A shares on May 29, 1990, when the market closed at $7,175 a share. In 1998, in an unusual move, he acquired General Re (Gen Re) for stock.

 In 2002, Buffett became involved with Maurice R. Greenberg at AIG, with General Re providingreinsurance. On March 15, 2005, AIG's board forced Greenberg to resign from his post as Chairman and CEO under the shadow of criticism from Eliot Spitzer, former attorney general of the state of New York.

 On February 9, 2006, AIG and the New York State Attorney General's office agreed to a settlement in which AIG would pay a fine of $1.6 billion.In 2010, the federal government settled with Berkshire Hathaway for $92 million in return for the firm avoiding prosecution in an AIG fraud scheme, and undergoing 'corporate governance concessions'.

In 2002, Buffett entered in $11 billion worth of forward contracts to deliver U.S. dollars against other currencies.

 By April 2006, his total gain on these contracts was over $2 billion. In 2006, Buffett announced in June that he gradually would give away 85% of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006.

 The largest contribution would go to the Bill and Melinda Gates Foundation. In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business.

 Buffett had previously selected Lou Simpson, who runs investments at Geico, to fill that role. However, Simpson is only six years younger than Buffett.

Books on Warren Buffett :

Author :Louann Lofton

Author and former editor-in-chief at The Motley Fool, Louann Lofton remembers her early experiences with money, which left an indelible mark on her life and her choice of a future career.  Those experiences played an integral role in deciding to pen her new book “Warren Buffett Invests Like a Girl, and Why You Should Too.” 

The Spirit of Warren Buffett : We Enjoy The Process Far More Than The proceeds

Quotes :

 ' We Enjoy The Process Far More Than The proceeds '

The Times of  Warren Buffett :

As a millionaire

In 1973, Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper, and became a member of its board of directors.

 In 1974, the SEC opened a formal investigation into Warren Buffett and Berkshire's acquisition of WESCO, due to possible conflict of interest. No charges were brought. In 1977, Berkshire indirectly purchased the Buffalo Evening News for $32.5 million. Antitrust charges started, instigated by its rival, theBuffalo Courier-Express. Both papers lost money, until the Courier-Express folded in 1982.

In 1979, Berkshire began to acquire stock in ABC. Capital Cities announced $3.5 billion purchase of ABC on March 18, 1985 surprised the media industry, as ABC was four times bigger than Capital Cities at the time.

 Berkshire Hathaway chairman Warren Buffett helped finance the deal in return for a 25% stake in the combined company.The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), was forced to sell off some stations due to FCC ownership rules. Also, the two companies owned several radio stations in the same markets.

In 1987, Berkshire Hathaway purchased a 12% stake in Salomon Inc., making it the largest shareholder and Buffett the director. In 1990, a scandal involving John Gutfreund (former CEO of Salomon Brothers) surfaced. 

A rogue trader, Paul Mozer, was submitting bids in excess of what was allowed by the Treasury rules. When this was discovered and brought to the attention of Gutfreund, he did not immediately suspend the rogue trader. Gutfreund left the company in August 1991. Buffett became Chairman of Salomon until the crisis passed; on September 4, 1991, he testified before Congress.

In 1988, Buffett began buying stock in Coca-Cola Company, eventually purchasing up to 7% of the company for $1.02 billion. It would turn out to be one of Berkshire's most lucrative investments, and one which it still holds.

Books on Warren Buffett :

Prem C. Jain (Author)

• Publisher: John Wiley & Sons (9 April 2010)

The Spirit of Warren Buffett : Let us choose a simple and smarter way to live.....

Quotes :

' The Happiest people do not necessarily have 
   the Best Things. They simply appreaciate 
   the things they have "

The Times of  Warren Buffett :

As a millionaire

In 1962, Buffett became a millionaire because of his partnerships, which in January 1962 had an excess of $7,178,500, of which over $1,025,000 belonged to Buffett. Buffett merged all partnerships into one partnership. Buffett invested in and eventually took control of a textile manufacturing firm, Berkshire Hathaway. In 1962, Warren Buffett began buying shares in Berkshire from Seabury Stanton, the owner, whom he later fired. 

Buffett's partnerships began purchasing shares at $7.60 per share. In 1965, when Buffett's partnerships began purchasing Berkshire aggressively, they paid $14.86 per share while the company had working capital of $19 per share. This did not include the value of fixed assets (factory and equipment). 

Buffett took control of Berkshire Hathaway at the board meeting and named a new president, Ken Chace, to run the company. In 1966, Buffett closed the partnership to new money. He would go on to claim that the textile business had been his worst trade. He then moved the business into the insurance sector, and, in 1985, the last of the mills that had been the core business of Berkshire Hathaway was sold. Buffett wrote in his letter: "... unless it appears that circumstances have changed (under some conditions added capital would improve results) or unless new partners can bring some asset to the partnership other than simply capital, I intend to admit no additional partners to BPL."

In a second letter, Buffett announced his first investment in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department store. In 1967, Berkshire paid out its first and only dividend of 10 cents.

 In 1969, following his most successful year, Buffett liquidated the partnership and transferred their assets to his partners.

 Among the assets paid out were shares of Berkshire Hathaway. In 1970, as chairman of Berkshire Hathaway, Buffett began writing his now-famous annual letters to shareholders. 

However, he lived solely on his salary of $50,000 per year, and his outside investment income. In 1979, Berkshire began the year trading at $775 per share, and ended at $1,310. Buffett's net worth reached $620 million, placing him on the Forbes 400 for the first time.

Books On  Warren Buffett :

Robert G. Hagstrom (Author)

Publisher: John Wiley & Sons; Reprint edition (2 September 2002)

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)
•