If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes - Warren Buffet.

Warren Edward Buffett is an American business tycoon, philanthropist, and investor, who is one of the most successful investors, and currently serves as Berkshire Hathaways chairman and CEO.

Early Life

Warren Buffett was born in Omaha, Nebraska. He went to Rose Hill Elementary School. He moved to Washington, D.C. with his family, and after completing his schooling, he went to Alice Deal Junior High School. Mr. Buffet completed his graduation in year 1947, Woodrow Wilson High School. He had a deep interest in business and wanted to skip college, but was denied by his father. But he used to spend more time reading and learning.

He had a keen interest in reading books since childhood and was interested in learning business as well. He was very enthusiastic and was always ready to try some newer things. He used to try small businesses due to his interest in it. He was inspired by a book - Thousand ways to make Thousand Dollars, which attracted him towards it.

Business of Pinball Machines

It was the business of Pinball machines, and his mind started to imagine numbers. He thought that how much a pinball machine would cost, and how many of these machines can be purchased by him, and the profit made by the first pinball machine. He was impressed by this idea, which made him get into a partnership with his friend.

He brought a pinball machine and placed it in the shop of a barber. It was placed with the objective to make the people play the pinball machine instead of sitting idly in the queue. This brought good initiative and his strategy worked which brought a good profit to him. He started reinvestment of its profit and purchased more pinball machines, and placed those in the barbers shops in all over the cities.

But after some time, he sold his venture which used to bring profit to him. After some time, he sold his profitable venture for Twelve Hundred Dollars. He had attributes of being a good business person, and his interest pulled him to start doing small businesses at the age of seven. He was very enthusiastic and used to get happiness in doing small businesses though he did not have financial issues.

At the young age of 14, he brought his first land of 40 acres from the money that he has earned and saved from the earnings he got from all businesses. He was very much appreciated by his father and used to get guidance from him, to whom he gave credit for his success.

He wanted to pursue post-graduation at Harvard University, but it got rejected. He was searching different colleges and was reading about teachers as well, from which he got to know about Mr. Benjamin Graham and Mr. David Dog who used to teach at Columbia University.

Mr. Buffet was also inspired by the book - Security Analysis. He went to take admission to Columbia University, which was a life-changing decision for him.

Partnership

Professor Benjamin Graham was the inventor of value investing and was known as the father of value investing. Mr. Buffet learned this from Professor Benjamin Graham and applied it in the Grahams company - Graham Newman Corp, but unfortunately, it was rejected.

Professor Graham offered him a job in his partnership firm, and he worked as a security analyst at Graham Newman Corporation, and while working there, he improved his value-investing skills.

Mr. Buffet returned to his hometown after the retirement of Mr. Benjamin Graham and opened a partnership firm there. His efforts and experience brought a good profit and escalated his business.

Started Investment

Warren Buffet first brought the shares of Berkshire Hathaway, which was a company involved in the textile business. But unfortunately, it was not performing well. It was selling its textile mills one after the other, and the money coming in the company started buying back shares from the shareholders, and here Mr. Buffet purchased shares, and gradually he brought a good number of shares of Berkshire Hathaway.

Later, he closed his partnership business took over the chairmanship at Berkshire Hathaway, and turned it into a holding firm. Gradually, he started to invest in various firms. He also entered into the insurance sector by buying some companies that were working in the same sector.

First Investment

He made his first investment at the age of 11 years only, which he made in the firm - City service, where he brought shares for himself and his sibling. He learned how to keep patience while investing and how to give time to the things to work.

He mainly had a keen interest and focus on investing. He earned a good profit in this investment business. He used to invest in the businesses which he understood well. As he is a big fan of soft drinks, hence invested in Coca-Cola. His reading and learning habits made him successful in the world of investment.

If you do not find a way to make money while you sleep, you will work until you die. - Warren Buffet.