GABRIEL HYDE ACC 101-4

Warren Edward Buffett (born August 30, 1930) is a U.S. investor, and philanthropist. He

is one of the most eminent investors in chronicle, the basic shareholder and chief executive

officer of Berkshire Hathaway and in 2008 was ordered by Forbes as the 2nd most robust person

in the world on an approximated net worth of around $62 billion. He was born in Omaha,

Nebraska. His father name is Howard Buffett and having 2 siblings. He worked at his grandpa’s

grocery store. His early childhood was tainted due to being born at the worst economic collapse

in the United States (The Great Depression). At an early age. The young Buffett would respect

the value of money; his fascination of Math, numbers and pattern made him very interested in

the business world. He was so invested into his dream of becoming successful, he even claims

one night at his dinner table that if he doesn’t have one million dollars before 35 of age, He

would commit suicide.

One popular story shared in the video takes about his beginning of observing stock. The

story was that one day, his curiosity lends him to a soda beverage vending machine. Warren

observed that there was an abundance of bottle caps. He decides to collect all the bottle caps near

the vending machine and take them home to count. After the week’s collection, He would count

all the caps on his bed to see which brand and flavor of bottle caps would appear the most. Thus,

being the most bought soda beverage.

In my opinion, Warren Buffett’s early enthusiasm towards the business world and his

proficient skill in Math lend him to become the successful capitalist investor he is today. This is

because being passionate about your goal/dream would make you less likely to quit when

unexpected things happen. Also, patterns and Mathematics plays an important part in study the

stock market and calculating larges about of money.

GABRIEL HYDE ACC 101-4

I couldn’t find any mention of ethical business practices Mr. Buffett part take in. One

unethical thing Mr. Buffett was buying several large companies such as Exxon, ABC and The

Washington Post to increase his personal net worth. In the United States, this is seen as unethical

because having monopolies restrict free markets. Two valuable lesson I learned from watching

the video was that you should never let your background financial status dictate your future one

and that if you are passionate and determine to meet your goal; with hard work and time, you

will achieve it.

Two sub topics we learn from accounting was Investing in businesses and assets. In the

video, it was shared that Buffett preferred tangible assets over intangible assets at a young age

and used that in his investment practice. Buffett also preferred investing in successful business

father than failing ones.