Warren Buffett, the exceptional wizard
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maybe we've to learn to be frugal to become rich? from littlespeck.com:
Warren Buffett
The exceptional wizard
The man who gave US$31B to charity is more frugal than most Singaporeans.
Jan 17, 2007
Just received from a friend: -
Every one has heard of Warren Buffett who is reported to be the world's greatest stock market investor and is worth US$36 billion, lives in a house he bought for US$31,500, dines on burgers and quotes Mae West.
CNBC had an hour-long interview with the second richest man who has donated $31b to charity. Here are some very interesting aspects of his life:
* He bought his first share at age 11 and he now regrets that he started too late!
* He bought a small farm at age 14 with savings from delivering newspapers.
* He still lives in the same small three-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
* He drives his own car everywhere and does not have a driver or security people around him.
*· He never travels by private jet, although he owns the world's largest private jet company.
* His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
*· He has given his CEO's only two rules.
Rule number 1: do not lose any of your shareholders' money.
Rule number 2: Do not forget rule number 1.
* He does not socialise with the high society crowd. His past-time after he gets home is to make himself some popcorn and watch television.
* Bill Gates, the world's richest man met him for the first time only five years ago. Bill Gates did not think he had anything in common with Warren Buffet, so he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
* Warren Buffet does not carry a cell phone, nor has a computer on his desk.
* His advice to young people: Stay away from credit cards and invest in yourself.
An amazing individual indeed.
Jan 17, 2007 -
hmmm...burgers in singapore very expensive..
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http://video.google.com/videoplay?docid=515260011274566220
watching the interview now.. a very impressive man.. -
yes, but in US it is about the cheapest food there.Originally posted by mhcampboy:hmmm...burgers in singapore very expensive.. -
yeahOriginally posted by lotus999:yes, but in US it is about the cheapest food there.
and it is bigger than the miserable burger here