Sunday, December 24, 2006

Warren Buffet (second richest person in the world)

He behaves like an unassuming millionaire next door, though he is worth billions in US dollars. He stands out by being the most humble billionaire. I think no one would be jealous of his huge success.

1) He bought his first share at age 11 and he now regrets that he started too late!
(just wondering if he started a year earlier, whether he could have been the richest)

2) He bought a small farm at age 14 with savings from delivering newspapers.
(cannot imagine today's kids doing the paper rounds, especially with their different time zones)

3) He still lives in the same small 3 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.
(now we know why some Chinese millionaires refused to move from their first house)

4) He drives his own car everywhere and does not have a driver or security people around him.
(wonder what car he drives)

5) He never travels by private jet, although he owns the world's largest private jet company.
(Malaysia should welcome him instead of Soros, especially to give talks to our politicians)

6) 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.
(so video conferencing is unnecessary)

7) He has given his CEO's only two rules. Rule number 1: do not lose any of your share holder's money. Rule number 2: Do not forget rule number 1.
(ie. his money because he is the largest shareholder)

8) He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
(how to make money from him?)

9) Bill Gates, the world's richest man met him for the first time only 5 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.

10) Warren Buffet does not carry a cell phone, nor has a computer on his desk.
(no wonder Bill Gates thought he has nothing in common with him, apart from his wealth)

11) His advice to young people: Stay away from credit cards and invest in yourself.
( I agree, I just found out that an outstanding balance of 1.52 incurs penalty of 5.00 and if the cardholder is overseas, it accumulates. They would rather no action is being taken)

Goes to show how little our needs are, if only we lead a simple life.
But there is a belief that when one is in luck, one cannot even stop the force of money coming in!

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