Warren Buffett, the world's richest investor turned philanthropist, has turned the ailing textile business of Berkshire Hathaway into a multi billion dollar furniture to Insurance giant after acquiring it in 1965.
At the age of six, Buffett purchased 6-packs of Coca Cola from his grandfather's grocery store for twenty five cents and resold each of the bottles for a nickel, pocketing a five cent profit. While other children his age were playing hopscotch and jacks, Warren was making money. Its very encouraging to see that buffett who used to sell coca cola on trolley at the age of Six is now the owner of Coca Cola. He is the largest shareholder of the company as on FEB 2012.
At the age of eleven Buffet took his first step in the field of stock investing and purchased three shares of Cities Service Preferred at $38 per share. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing - patience is a virtue. More on Mr. Buffett in this exclusive and very interesting biography in pdf format.