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The makings of the world’s greatest investorWarren Edward Buffett was conceived approximately one month after the Wall Street crash in 1929, to be born in Omaha, Nebraska in the United States on 30 August, 1930. His early childhood was deeply affected by the crash and the great depression that follo wed. Buffett’s father, Howard, was a securities broker in Omaha, but he lost his job and his savings when the bank he worked for went bankrupt in 1931 –shortly before Warren’s first birthday. Howard responded by establishing his own stockbroking firm, but it was a tough way to earn a living in the early thirties. For a long while, as investors shunned the market, Buffett’s business was little more than a sign on a door. Buffett’s mother, Leila Stahl, had been brought up in West Point, Nebraska, with a family that owned and operated a local newspaper: the Cuming County Democrat. She moved to Omaha with Howard after they married in 1925.Buffett’s tough early years probably helped to forge his parsimonious nature and his desire to make certain that he would never have to struggle for money. Combined with his early exposure to the stockmarket and investing, through his father’s work, Buffett was light years ahead of most children at money management by the time he began school at the age of six.Around this time, Buffett is said to have embarked on the first ofmany money making schemes, buying six-packs of Coca-Colafor 25 cents and then selling the individual bottles for 5 centseach. According to his mother, during a severe illness at ageseven, Buffett lay in a hospital bed calculating his future richeson a sheet of paper, exclaiming to a nurse ‘I don’t have muchmoney now, but someday I will and I’ll have my picture in the paper’.Howard Buffett was a man of high principles and this led him into politics. Politics, in turn, led to the family being relocated to Washington DC in 1942, when Buffett was twelve, after his father won a seat in congress. Warren was very unhappy about being away from Omaha, but his time in the capital was significant in terms of his fledgling business career. A paper round began a very profitable lifelong association with The Washington Post. When his paper round was at its peak, Buffett was making US$40 a week from it. To this could be added US$20 a week earnings from his share of a partnership with his friend Don Danly, owning, operating and servicing pinball machines in barbershops. He filed a tax return in respect of his earnings and refused to let his father pay the taxes.In 1947, the seventeen-year-old Buffett went, somewhat reluctantly, to the Wharton School of Finance and Commerce at the University of Pennsylvania. He didn’t feel that he was learning very much from his university studies, however, and in 1949 he returned to Omaha, after his father lost an election, and he transferred to the University of Nebraska. In Omaha, he was rushing through his studies and at the same time adding to his funds with various jobs on the side, including one where he managed 50 paper boys for the Lincoln Journal.For all his business acumen and earning power, though, Buffett was still unsure about what to do with the money. Buffett’s stockmarket epiphany came in 1949 when he first read Benjamin Graham’s legendary book on investing, The Intelligent Investor, which had been published that year. This encouraged him to enrol at the University of Columbia to study under Graham.What Buffett learnt from Graham laid the foundations for his investing career, by ramming home the crucial distinction between price and value. After scoring the only A+ that Graham had awarded in 22 years of teaching, Buffett had hoped to be employed by Graham’s investment firm, Graham Newman, but he was rejected because the firm only employed Jews (since they were shunned by the traditional Wall Street investment houses). Buffett even offered his services for free, for the honour of working with the Master, but his approach was rebuffed.So Buffett returned to Omaha, where he took employment with his father’s firm of Buffett Falk. Asked whether the firm would be renamed Buffett & Son, he is said to have retorted: ‘No, Buffett & Father.’ At this time, Buffett courted Susan Thompson, whose parents were family friends, and the two were married in 1952. They raised three children, Howard, Susan and Peter.In 1954, Ben Graham relented and Buffett completed his education by working for two years, for US$12,000 a year, at Graham’s firm in New York, until Graham retired in 1956. The firm was wound up because, as one investor said at the tim e, ‘Graham Newman can’t continue because the only guy they have to run it is this kid named Warren Buffett. And who’d want to ride with him?’It turned out that plenty of people did want to ride with Buffett. When he returned to Omaha, his own investing partnership began with friends andfamily, but several notable clients of Graham Newman were directed his way, and word of mouth spread. Soon Buffett was managing many millions of dollars. His rule was that his partners were not to know anything about how their money was invested, but they would be given a simple annual statement of returns. In addition to this, and so that he wouldn’t be at the whim of fickle investors, he would allow partners to withdraw or add money on only one day each year.The results of the Buffett Partnership were spectacular. Over the 14 years from 1957 to 1970, he never lost money and always beat the stockmarket index, compounding his investments at an average of 28% and multiplying each original dollar 32 times (for more detail, see here). A notable investment success was American Express, whose stock price was hammered by a fraud in New Jersey but whose business franchise and intrinsic value, Buffett famously surmised by watching the tills at his favourite steakhouse, was largely undamaged.But by the end of the sixties, the markets were flying upwards to ever greater heights and Buffett was finding it increasingly hard to find suitable investment opportunities. In the end, he decided to liquidate the partnership in 1970 and, instead, he focused his investments on a small Massachusetts textile company named Berkshire Hathaway.Buffett had first invested in Berkshire in 1962 when its stock price was justUS$8, compared with net working capital per share of US$16.50. As further stock came on the market, he just kept buying more, and soon the Buffett Partnership was the company’s largest shareholder. Berkshire Hathaway was, however, in an absolute mess, with huge mills that cost more to maintain than they generated in cash. Buffett either needed to get out for a small profit, or he needed to engineer a change in management. In the end, he opted for the latter course and, in 1965, with the stock price at US$18, Buffett took control of the company.Buffett’s first step was to put a new man, Ken Chace, in charge of the textile operations. He explained that he needn’t bend over backwards to chase unprofitable sales, but that he would be judged according to cash return on invested capital. Buffett was about thirty years ahead of his time in using this measure, which achieved buzzword status in the 1990s (and was consequently badly abused), but it set the scene for his long tenure at the company: the Berkshire subsidiaries should only utilize cash at attractive rates of return, otherwise Buffett himself would take it and find other opportunities.And there were plenty of other opportunities. The Washington Post Company, Gillette and Coca-Cola are among the more famous listed companies in which Berkshire has made huge profits. But equally successful have been the company’s purchases of entire businesses, such as the Government Employees’ Insurance Company (GEICO) (a former favorite of Ben Graham’s), See’s Candies, the Buffalo News, Nebr aska Furniture Mart and Borsheim’s Jewelry. Whether purchased in full or in part, all of these businesses benefit from having a strong, defensible business franchise, enabling them to churn out increasing quantities of cash for investment in new opportunities. There is more about Buffett’s investing approach in this section, and on The Intelligent Investor website.In April 2005, the Berkshire Hathaway share price was edging towardsUS$100,000, giving an average annual return of about 26% per year since Buffett first took control. The market value of the company is now well over US$100 billion and its main challenge is finding big enough investment opportunities to make a difference to such a huge company—a fact that Buffett frequently moans about in his annual letters to shareholders. Having too much money, though, is a problem that few people get to complain about.Warren Buffett is one of the world's richest men, with an estimated personal wealth of approximately US$40 billion. He began his journey by cobbling together a few thousand dollars during his childhood: collecting golf balls, operating a pinball-machine business (with a mechanically minded friend), running paper rounds and doing any other odd jobs that came his way.By the time he took Ben Graham’s investing course at the University of Columbia at the age of 20, Buffett had accumulated $9,800 (see Note 1). Working with Ben Graham in New York, Buffett analysed stocks all day and he achieved the best returns of his career, compounding his money at 56% per year to reach a total of $140,000 when he returned to Omaha, Nebraska in 1956.Buffett then placed this money into his investing partnership, with various friends, family members and acquaintances. Between 1957 and 1970, he compounded his investments at an average rate of 28% per year. However,through this period, his own personal wealth benefited from a kicker effect thanks to performance bonuses from the partnership.When he liquidated the Buffett Partnership in 1970, he was able to convert his share into a stake of approximately one third in Berkshire Hathaway. Since then, Berkshire Hathaway’s net assets have compounded at an average rate of 23% per year (though the intrinsic value of Berkshire Hathaway, and its shares, have compounded at a slightly higher rate).Over the full 54 years, therefore, Buffet t’s investments have grown at an average rate of 27.6%. The graph below charts the progress of one of Buffett’s 1950 investment dollars up until 2004, compared to how one might have fared being invested in the overall US stockmarket (see Note 2).$1 travelling with Warren Buffett compared to $1 travellingwith the US StockmarketYou’ll see that we’ve done the chart on a logarithmic basis. It sounds a bit scary, but it’s the best way to do charts of things that compound over time, because it gives equal weight to the same proportional increases. But there’s another very good reason for doing it this way, and that is that if we didn’t, then the US stockmarket would not even register on the same chart as Buffett –quite literally, because the dollar invested with the US stockmarket dollar endsup at just less than a thousandth as much as the dollar invested with Warren Buffett. Don’t believe us? Well here’s the normal chart then.$1 travelling with Warren Buffett compared to $1 travellingwith the US StockmarketSee – we told you. Anyway, going back to the logarithmic chart, there are three main points to note.Firstly, notice how much higher up Warren Buffett’s line is. This reflect s the awesome power of compound interest – a little extra return each year (well quite a lot, in fact, in Buffett’s case) adds up to a colossal amount over the long term.Secondly, notice how much smoother Buffett’s line is. While the US stockmarket has bo unced about over the years, Buffett’s investing approach has produced more consistent returns.Finally, notice how Buffett’s line doesn’t go down at all. While the US stockmarket takes two steps forward and one step back, Buffett just keeps taking steps fo rward. Well, OK, that’s not entirely true. Buffett did blot his copy book, after 50 years of investing, with a loss of 6% in 2001 (compared to a loss of 12% by the S&P 500 index that year). But we figure that one small annual loss in 54 years is pretty reasonable going.One way or another then, Buffett’s approach beats the overall stockmarket by a country mile and it does it with less risk and many fewer setbacks.You can learn more about the approach by subscribing to The Intelligent Investor.Note 1.Buffett’s returns: The returns for Warren Buffett are comprised of three main sections. Firstly, there are Buffett’s own personal returns between 1950 and 1956, when he turned $9,800 into $140,000 [data taken from Davis, Buffett Takes Stock via Lowenstein, Buffett – The Making of An American Capitalist]. Secondly, there are the returns of the Buffett Partnership, between 1957 and 1969. Finally, there are the returns of Berkshire Hathaway since 1970.Note 2. US stockmarket returns: From 1965 to 2004, the returns of the US stockmarket are taken as the return of the S&P 500 Index, with dividends reinvested. From 1950 to 1964, they are taken as the return of the Dow Jones Industrial Average, with 5% added each year as an approximate adjustment for dividends.。
小学生英语小故事10则带翻译1、小学生英语小故事Everybody Knows： You can't be all things to all people. You can't do all things at once. You can't do all things equally well. You can't do all things better than everyone else. Your humanity is showing just like everyone else's.每个人都知道：你无法为每个人办到每件事。
你无法立刻完成所有的事。
你无法把所有的事都做的尽善尽美。
你无法把每件事都做的比别人好，你仅仅和其他人一样。
2、小学生英语小故事My father My father is a tall and handsome man.He is a policeman. Everyday he comes back home very late,because he must help the others.He doesn't have time to examine my homework and take me to the park.But I like my father,because he is a good policeman.我的爸爸是一个高大帅气的男人。
他是一个警察。
他每天都很晚才回家，因为他要协助其他的人。
他没有时间给我检查作业和带我去公园。
但是我仍然很喜欢我的爸爸，因为他是一个好警察。
3、小学生英语小故事Park There is a park near my home.There are a lot of beautiful trees,flowers and birds in the park.So many people go to the park to enjoy their weekends.They like walking or having a picnic in the park.But I like flying a kite with my sisiter there.我家附近有一个公园。
Teen EntrepreneursLike a lot of college freshmen, Sean Belnick has a job. He works for a company that brings in more than $20 million dollars a year. But Belnick is not just another employee; he is also the company’s owner.“We started off with a couple of orders a day and it just mushroomed迅速成长from there,” Belnick says.Belnick’s company sells office chairs online, and maintains a huge warehouse 仓库，货栈of inventory存货，详细目录. But it all started in his bedroom, when he was 15 years old.“I always had an entrepreneurial企业家的，创业者的spirit,” says Belnick. In fact, more teens than ever are tapping into their entrepreneurial spirit. According to a new Junior Achievement survey of more than 1,400 teenagers, 71 percent said they would like to be self-employed one day.What’s more, experts say, kids have a huge advantage as entrepreneurs because they know the web, and understand the workings of network sites such as Facebook and Myspace.“[Teenagers] intuitively直观地，直觉地understand the power and potential of using web-based services for distribution, for marketing, for outreach延伸，拓广-- for connections,” says Andrea Hershatter, Emory University. “They are incredible networkers who have a very large number of human resources in terms of 依据，按照their peers at their disposal.”“That’s the whole thing with the Internet really,” says Belnick. “Anyone can put a web site up, and it looks professional. But there’s nothing saying that there’s a 20-year-old kid behind it. Which is the biggest thing about the Internet … you can create your own credibility.”Experts say parents should encourage entrepreneurship in their kids, whether it’s mowing lawns or running an online business. They may not make millions, but they will learn a lot about managing a business and what it takes to turn a profit. “I think they learn, they grow, they mature,” says Hershatter. “If they are not enriched financially, then at least they [will be] enriched in terms of life experiences that will serve them forever,” says Hershatter.。
幽默故事：There wa s a guy who w ent into a sh op to buy a p arrot. Therewerethree par rots in the s hop. One was$5,000; anoth er one, $10,000; and the t hird one, $30,000. The cus tomer asked t he owner, “Ho w come this g uy is $5,000?That‟s so ex pensive for t his kindof pa rrot.” The ow ner said, “Be cause I havetrained him a nd he can tal k.” So the cu stomer askedhim, “How abo ut this guy?What can he d o that makeshim so expens ive?” The own er said, “Wel l, apart from talking, hecan also do s ome amusing a ctions,like d ancing and so on. That‟s w hy he‟s so ex pensive.” The n the custome r said, “Howabout the thi rd one? Whatcanhe do that makes him so expensive?”The owner ofthe shopsaid,“I don‟t kno w. Normally,I have neverheard him tal k, nor dance, nor whistle, nor sing, no thing at all! But the othe r two call hi m …The Boss.‟”【译文】老板最大有个人到一间商店买鹦鹉。
名⼈故事英⽂版 从古⾄今，⼀直都有许多励志的名⼈成功故事，⽆论是哪⼀个，都是值得我们去努⼒学习的，下⾯是店铺为您整理的名⼈故事英⽂版，希望对你有所帮助! 名⼈故事英⽂版篇⼀：Xu xiake aim at the world One day, the river a strange thing happened, a lot of people in the salvage of shishi drowning, but how also can not find. At this time, a man named xu xiake child said, as long as the river and go up, can find the stone lion. Shishi indeed found, everyone praised the intelligent child. He is grow up to be the great geographer and traveller xu xiake. 名⼈故事英⽂版篇⼆：Complete nirvana painting a tiger Five dynasties painting tiger famous through the company since the childhood like painting, especially like painting a tiger, but not having seen the tiger really, always painted sick cats, the tiger so he decided to enter the mountains, visit the tiger, really experienced untold hardships, with the help of Orion's uncle, finally met the tiger really, through a lot of sketch copy, the painting techniques by leaps and bounds, tiger's tiger lifelike, a few can be spurious. Since then, and spent most of his time visited many famous mountains and great rivers, see more birds beast, finally become a generation of masters. 名⼈故事英⽂版篇三：Huang-fu mi prodigal son Huang-fu mi, wei, jin and people, is a famous western scholars and scientists. Huang-fu mi play bad exceptions as a kid, people in the village called little overlord, once, his old home doormat will shovel off the bark of Chinese jujube, makes the jujube tree wither, the whole village to see him, all ignore him, under the education of the aunt, huang-fu mi prodigal son finally, become a useful person. 名⼈故事英⽂版篇四：Sima guang p pillow self-help Sleep-ins sima guang is a naughty child, so he didn't punish and fellow mocked by Mr, less under the inculcation of Mr., he is determined to get rid of the bad habit of sleep, in order to get up early, he drank the lucozade water before going to bed, the results were not suppress wake in the morning, but the urine out of bed, so clever with garden wood made a police pillow sima guang, a turn in the morning, head down on the bed board, woke up naturally, from then on, he gets up early every day to study, perseverance, finally became a knowledgeable, wrote "History As A Mirror" big literary giant. 名⼈故事英⽂版篇五：Zhang sanfeng chong tai chi Zhang sanfeng, name one, also known as real, sanfeng, yuanyuan son again, because the slovenly, also known as a sloppy, liaodong taken state (now liaoning ZhangWu southwest), the cases of the Ming dynasty were dubbed "micro manifest reality". About his legend was once widely spread in the folk, and even regard him as the gods. We all know that tai chi chuan? The greatest characteristic of tai chi chuan is soft with just! Do you know how to create zhang sanfeng of tai chi chuan? The film is to say, it is the story. 名⼈故事英⽂版篇六：Yue fei who National hero yue fei especially troubled times, have been GuPin, under the funding of citizen, thanks to shaanxi famous Zhou Tong kung fu, period, the witness was broken, displaced people, who had sprouted patriotic ambition, overcame the complacency emotions. Through summer and winter, hard not compose, under the guidance of teacher Zhou Tong, wife finally developed family to rob, and led the Wang Gui, show partners such as soup, add to the flow of gold of saving the nation and patriotism.。
名人小故事英文人生的每一笔经历，都在书写你的简历。
原本你以为微不足道的事情，回头看的时候，都有着无法细数的刻度。
自己拼出来的东西，和别人送到嘴边的东西，意义和珍惜的程度都大为不同。
下面是店铺为您整理的名人小故事英文，希望对你有所帮助!名人小故事英文篇一：Benjamin FranklinFranklin's life is full of charming stories which all young men should know -- how he sold books in Boston, and became the guest of kings in Europe; how he was made Major General Franklin, only to quit because, as he said, he was no soldier, and yet helped to organize the army that stood before the trained troops of England and Germany.This poor Boston boy, without a day's schooling1, became master of six languages and never stopped studying; this neglected apprentice2 conquered the lightning, made his name famous, received degrees and diplomas from many colleges, and became forever remembered as "Doctor Franklin", philosopher, scientist and political leader.Self-made, self-taught, the candle maker's son gave light to all the world; the street bookseller set all men singing of liberty; the apprentice became the most sought after man across the world, and brought his native land to praise and honor him.He built America, for what our nation is today is largely due to the management, the forethought, the wisdom, and the ability of Benjamin Franklin. He belongs to the world, but especially he belongs to America. The people around the world honored him while he was living; he is still regarded as the loftiest man by the common people today after his death. And he will live in people's hearts forever.名人小故事英文篇二：Demades and his fableDemades the orator1 was once speaking in the assembly at Athens; but the people were very inattentive to what he was saying, so he stopped and said, "Gentlemen, I should like to tell you one of Aesop's fables." This made every one listen intently. Then Demades began: "Demeter, a swallow, and an eel were once travelling together, and came to a river without a bridge: the swallow flew over it, and the eel swam across", and then he stopped. "What happened to Demeter?" cried several people in the audience. "Demeter," he replied, "is very angry with you for listening to fables when you ought to be minding public business."名人小故事英文篇三：He is the thiefWashington was the first president of the U.S. He was very clever even when he was still a 12-year-old-boy.Once a thief stole some money from Uncle Post, Washington's neighbor. The door of the house was not broken, and things in the room were in good order. Washington concluded that the thief must have been committed by one of the villagers.That evening at the villagers' meeting the said, "We don't know who stole the money but God does. God sends his wasp1 to tell good from evil. Every night the wasp flies among us but few people notice it…" Then, all of a sudden Washington waved his hand and cried out, "Look! The wasp has landed on the thief's hat. It is going to sting!"The crowd burst into an uproar3. Everybody turned to look for the thief. But soon the noise died down. All eyes were fixed4 on a man who was trying hard to drive the "Wasp" off his hat."Now we know who stole the money," Washington said witha smile.名人小故事英文篇四：Whose horseOnce a neighbor1 stole one of Washington4's horse. Washington horse back. But the neighbor refused to give the horse back. He said that it was3 his horse.Suddenly Washington had a good idea. He put both of his hands over the eyes of the horse and said to the neighbor, "If this is your horse, then you must tell us in which eye the horse is blind8.""In the left, "said the neighbor. Washington took9 his hand from the left eye of the horse and showed the policeman that the horse was not blind in the left eye."Oh , I have madea mistake," said the neighbor. "He is blind in the right eye." Washington then showed that the horse was not blind in the right eye, either"I have made another mistake," said the neighbor."Yes," said the policeman, " and you have also proved12 that the horse isn't yours. You must return13 it to Mr Washington. " 名人小故事英文篇五：I am illiterate tooOnce Albert Einstein, the world-famous scientist, was traveling by train. At dinner time he went to the dining car.Menu in hand, he suddenly readlized that he had forgotten his glasses in his compartment1. He shrugged. Unwilling to go back, he tried his best to indentify, the fine letters. However, his effort was in vain. He returned the menu to the waiter near him, "Would you please read this menu for me?" The waiter shrugged. Then murmured to Mr Einstein, "Sir, I'm terribly sorry. I am illiterate too."。
周二读书（10）聪明的投资者（TheIntelligentInvestor）我们看到的这些经典之作，无一不是作者倾尽全力写成。
他们中的大多数，根本没有必要为了一些版税或是名气将自己的成果和心得贡献出来，让我们这些后辈花十几块钱（京东正在200-100，速去），或是根本不花钱直接下载盗版就能看到这些数十年的努力结晶。
他们到底是为了什么？很简单，奉献和合作体现了他们人生的价值。
而这份奉献使越多人受益，他的价值就越会得到体现。
他们也会随之受益，名留青史——当然，这只是体现人生价值的副产品。
1949年，本杰明格雷厄姆出版了第一版《聪明的投资者》。
几年后，一个来自美国西部奥马哈小镇的年轻人——沃伦.巴菲特偶然间读到了这本书。
就像瞬间被打通了任督二脉，突然明白了什么是真正的投资。
之后，这个年轻人成为格雷厄姆的学生、朋友以及合伙人。
从此，走上了股神之路。
这个小故事正好印证了上面我说的，格雷厄姆将自己的心得奉献出来，成就了巴菲特。
而巴菲特反过来让格雷厄姆成为全世界价值投资者心中的价值投资祖师爷……奉献，让格雷厄姆实现了最大的人生价值。
这本书有何特殊之处，能在长达60多年的时间里经久不衰，历久弥新？像我之前介绍的大多数投资书籍一样，这是一本专门写给普通投资者的书。
同样像那几本一样，这本书很少讨论证券分析的技巧，而是将笔墨集中于投资原理和投资者的态度方面。
正如本人的体会，在股市赔钱的人，最关键的不是他没有经过专业的投资技术训练，而是他不明白投资真正的原理，同时他们的投资态度完全错误，导致他们沉浮股市多年，依然不得要领，无法赚钱。
格雷厄姆首先介绍了金融市场的历史演变模式。
当然，这部分我们不必太过精读。
因为，我们看过《漫步华尔街》和《投资者的未来》，我们知道了本书之前以及本书出版之后几十年金融市场发生过什么。
对于历史，这一成功投资必然要学习的一课，我们已经学习的不错了。
接下来，格雷厄姆说了什么？朋友们，注意，重点来了。
名人巴菲特的小故事他除了关注商业活动外，几乎对其他一切如艺术、文学、科学、旅行、建筑等全都充耳不闻——因此他能够专心致志追寻自己的激情。
在小时候，沃伦就随身携带着自己最珍贵的财产，自动换币器。
而10岁时，父亲提出带他旅行，他要求去纽约证券交易所。
不久之后，读到了一本名为《赚1000美元的1000招》的书，他对朋友说要在35岁前成为百万富翁。
“在1941年的世界大萧条中，一个孩子敢说出这样的话，可真是胆大包天，听上去有点傻得透顶了。
但是……他很肯定自己能够实现这一。
1991年美国独立日那个周末，巴菲特和盖茨见面了。
这次会面是在凯瑟琳·格雷厄姆和她拥有的《华盛顿邮报》的主编梅格·格林菲尔德的倡议下进行的。
对于盖茨，巴菲特还是非常欣赏的，尽管巴菲特比他年长25岁，他知道盖茨是一个非常聪明的人，但更重要的是，一直以来，两人就是《福布斯》财富榜上争相被人们比较的对象。
不过，以巴菲特对于IT人士并不感冒的性格，他自己是肯定不会加入凯瑟琳的周末之旅的，但是在格林菲尔德地劝说下，巴菲特动摇了。
格林菲尔德告诉他：“你肯定会喜欢上盖茨的父母的，而且还有很多有意思的人也会去。
”最终，巴菲特还是同意了。
对于两位巨人的第一次见面，很多人都在仔细观察。
至少在一点上，巴菲特和盖茨是相似的，如果遇到不热衷的话题，他们会尽量选择结束。
人们对于盖茨不善隐藏自己的耐心早有耳闻，而巴菲特，虽然在遇到感觉无聊的话题时他不会提前走开转而找本书看，但是他依然有自己的方法，他会在第一把自己从不感兴趣的话题中解脱出来。
在与盖茨的交流中，巴菲特还是和平常一样，没有过渡语言直奔正题，他问盖茨有关IBM公司未来走势的问题，他还向盖茨询问是否IBM已经成了微软公司不可小视的竞争对手，以及信息产业公司更迭如此之快的原因为何?盖茨一一做出了回答。
他告诉巴菲特去买两只科技类股票：英特尔公司和微软。
轮到盖茨提问了，他向对方提出了有关报业经济的问题，巴菲特直言不讳地表示报业经济正在一步一步走向毁灭的深渊，这和其他媒体的蓬勃发展有着直接的关系。
世界投资大师：沃伦·巴菲特The Master of Investment: Warren BuffettFor someone who is such an extraordinarily successful investor, Warren Buffett comes off as a pretty ordinary guy. Born and bred in Omaha, Nebraska, for more than 40 years Buffett has lived in the same gray stucco house on Farnam Street that he bought for $31,500. He wears rumpled, nondescript suits, drives his own car, drinks Cherry Coke, and is more likely to be found in a Dairy Queen than a four－star restaurant.世界投资大师：沃伦·巴菲特作为一个如此卓越的成功投资家，沃伦·巴菲特却又是一个非常平凡、普通的人。
巴菲特在美国内布拉斯加州的奥马哈出生、长大，40多年来他一直居住的是法钠姆大街那栋自己以31500美元购置的灰色水泥墙的房子。
他穿皱巴巴的普通西装，亲自开车，常喝"樱桃可乐"，多数情况下是光顾"戴瑞王后"这样的小饭馆，而不是四星级的豪华酒店。
But the 68－year－old Omaha native has led an extraordinary life. Looking back on his childhood, one can see the budding of a savvy businessman. Warren Edward Buffett was born on August 30, 1930, the middle child of three. His father, Howard Buffett, came from a family of grocers but himself became a stockbroker and later a U. S. congressman.但这位68岁、土生土长的奥马哈人却有着不平凡的生活经历。
回顾他的童年时代，就可以很好地了解这个机敏的生意人的成长过程。
沃伦·爱德华·巴菲特生于1930年8月30日，在家里３个孩子中排行老二。
他父亲霍华德·巴菲特成长于一个杂货商的家庭中，但后来却成了一名股票经纪人，之后又成为美国国会的议员。
Even as a young child, Buffett was pretty serious about making money. He used to go door－to－door and sell soda pop. He and a friend used math to develop a system for picking winners in horseracing and started selling their"Stable－Boy Selections"tip sheets until they were shut down for not having a license. Later, he also worked at his grandfather's grocery store. At the ripe age of 11, Buffett bought his first stock.甚至在很小的时候，巴菲特就对赚钱很用心。
那时他常常挨家挨户地推销苏打汽水。
他和一个朋友利用数学知识开发了一个在赛马比赛中选拔冠军的识别系统，然后开始推销他们的"马童筛选器"的内部消息传单，但因为无许可证被迫关停。
后来他还在祖父的杂货店干过一段时间。
在１１岁的时候，已近成熟的巴菲特买进了自己的第一支股票。
When his family moved to Washington, D. C. , Buffett became a paperboy for The Washington Post and its rival the Times－Herald. Buffett ran his five paper routes like an assembly line and even added magazines to round out his product offerings. While still in school, he was making $175 a month, a full－time wage for many young men.在巴菲特全家搬至华盛顿特区后, 他开始为《华盛顿邮报》和该报的对手《时代先驱报》送报纸。
巴菲特把自己送报的５条线路安排得就像生产线一样有条不紊, 后来他甚至还添加了杂志的递送, 这样他提供的订阅品种就更丰富了。
在校读书期间, 他每月的收入就已经有175美元了, 相当于当时年轻人全职工作的月收入。
When he was 14, Buffett spent $1,200 on 40 acres of farmland in Nebraska and soon began collecting rent from a tenant farmer. He and a friend also made $50 a weekby placing pinball machines in barber shops. They called their venture Wilson Coin Operated Machine Co.14岁那年, 巴菲特花了1200美元在内布拉斯加州购置了一片40公顷的农田, 然后开始从佃户那里收取租金。
他还和一个朋友为理发店安装弹球游戏机从而每周赚得50美元。
他们把自己的"企业"称作"威尔森钱币运作机器公司"。
Already a successful albeit small－time businessman, Buffett wasn't keen on going to college but ended up at Wharton at the University of Pennsylvania－－his father encouraged him to go. After two years at Wharton, Buffett transferred to his parents'alma mater, the University of Nebraska in Lincoln, for his final year of college. There Buffett took a job with the Lincoln Journal supervising 50 paper boys in six rural counties.这时巴菲特尽管并不起眼, 但已是一个小获成功的商人。
他对上大学并不感兴趣, 不过后来还是在父亲的敦促下去了宾西法尼亚大学的沃顿学院。
在沃顿学习了两年后, 巴菲特转学到其父母的母校--林肯的内布拉斯加大学, 在那儿修完了大学最后一年的课程。
这期间巴菲特还在《林肯日报》谋得了一份工作, 负责管理６个乡村地区的５０个报童。
Buffett applied to Harvard Business School but was turned down in what had to be one of the worst admissions decisions in Harvard history. The outcome ended up profoundly affecting Buffett's life, for he ended up attending Columbia Business School, where he studied under revered mentor Benjamin Graham, the father of securities analysis who provided the foundation for Buffett's investment strategy.巴菲特曾申请哈佛商学院被拒, 这后来成为哈佛历史上最糟糕的录取决定之一。
这个结果对巴菲特的一生产生了深远的影响, 他因此进入哥伦比亚商学院, 并从师著名的证券分析之父本杰明·格雷厄姆, 巴菲特从导师身上学到的东西为日后形成自己的投资策略奠定了基础。
From the beginning, Buffett made his fortune from investing. He started with all the money he had made from selling pop, delivering papers, and operating pinball machines. Between 1950 and 1956, he grew his $9,800 kitty to $14,000. From there, he organized investment partnerships with his family and friends, and then gradually drew in other investors through word of mouth and very attractive terms.一开始, 巴菲特凭借投资来赚钱。
他最初的资本来自卖苏打汽水、送报纸、安装弹球游戏机而攒下的积蓄。
在1950到1956年期间, 他的原始资本积累由9800美元升至14万美元。
此后, 巴菲特开始与家人和朋友结成伙伴投资关系, 后来又凭借口头游说和一些优惠条件拉拢其他投资者。
Buffett's goal was to top the Dow Jones Industrial Average by an average of 10% a year. Over the length of the Buffett partnership between 1957 and 1969, Buffett's investments grew at a compound annual rate of 29.5%, crushing the Dow's return of 7.4% over the same period.Buffett's investment strategy mirrors his lifestyle and overall philosophy. He doesn't collect houses or cars or works of art, and he disdains companies that waste money on such extravagances as limousines, private dining rooms, and high－priced real estate. He is a creature of habit－－same house, same office, same city, same soda－－and dislikes change. In his investments, that means holding on to "core holdings"such as American Express, Coca－Cola, and The Washington Post Co. "forever. "巴菲特的目的是以每年平均10％的比率超出道琼斯工业指数。
