REPORT: Warren Edward Buffett, born on August 30, 1930 is an American business magnate, investor, and philanthropist. He is widely considered the most successful investor of the 20th century. Buffett is the primary shareholder, chairman and CEO of Berkshire Hathaway and consistently ranked among the world’s wealthiest people. He was ranked as the world’s wealthiest person in 2008 and as the third wealthiest person in 2011.
In 2012, American magazine Time named Buffett one of the most influential people in the world. A thought hungry crowd of 30,000 in Berkshire Hathaway shareholders meeting had Warren buffet share tips and experience. The number keeps growing each year with the increasing pool of Buffet’s following.
Buffett and his investing partner Charlie Munger told shareholders that successful investors must learn all they can about the businesses they are buying and stick to industries they know, but the right temperament is also important.
“You just have to avoid getting excited when other people are excited,” Buffett said.
Admittedly, it’s hard to continue to make rational decisions about investments when the stock market is soaring, but it has proven profitable for Berkshire Hathaway.
“We’ve always tried to stay sane when other people like to go crazy,” Munger said. “That’s a competitive advantage.”
Buffett, who is 82 years old now, said he’s just as passionate about investing and running Berkshire Hathaway as he was when he was younger. Hunting for acquisitions and thinking about Berkshire is what he enjoys.
Berkshire Hathaway has more than 80 subsidiaries that have come along in Buffet’s long journey of courage, instinct and experience. Buffett said he doesn’t expect his successor to make any significant changes to Berkshire Hathaway after the 82-year-old investor is gone.
Buffett faced several questions related to the future of the Berkshire conglomerate during the shareholder’s meeting.
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