The first unwritten principle of legendary investor Warren Buffett, begins even before he started investing because to make money in stock from market investment, first, you need money. And if you want to make money, you need a lot of money. That’s why before you become an investor, you must become a person who generates large sums of money.
Buffett was always hungry for success and wealth, and as we said before, Warren Buffett probably better businessman investor. The investment has served only to multiply their money consistently, using the compound throughout his career as entrepreneur and investor interest.
In the book The Snowball that part of his life, where a teenager, even at one point came to be lost is collected through a criminal stage , it came to accumulate $ 53,000 at the age of 16 years. He almost did not go to college because he felt that his talent for business was more than enough. But his father finally convinced him, and as a result, was able to meet Benjamin Graham and learn everything about smart investing. It all starts with 6 years.
|The Snowball: Warren Buffett and the Business of Life
The first way that Buffett had to earn a few cents, was buying packages of gum at the grocery store of his grandfather, and then sold them door to door to all his neighbors. While that was not going to get rich at 6 years at least he understood that part of the secret of business is to buy wholesale and sell retail with higher profit margin. According to Alice Schroeder’s biography from smallish already he had that knack for money management and persuasion of people. The distribution of value-added papers. Later, the young Buffett begin to make money from one of the most classic forms in the United States; delivering newspapers at home.
Specifically distributed The Washington Post, and spent a couple of hours a day. Buffett took advantage of the deal to also sell calendars and other things to their clients sharing, so just making up $ 175 a month (at the time), which means earning more money than some adults. It was devoted to the seals. Buffett saw a good deal on stamps. If a person needed a luxury label, you could count on the young Buffett, who sold stamps collection for collectors around the country. He earned money by selling used golf balls.
If you were a lover of golf in 1940 and wanted to get golf balls, Warren Buffett will sell a dozen for $ 6.In the beginning, Buffett, with a friend, were engaged in the search for missing in golf balls, but later, as this business continued to grow, Buffett began working with a supplier of Chicago.