In all, Buffett had four children, and Warren was the only boy among them. Even as a little boy, he discovered an outstanding memory for numbers, the first time memorizing the number of residents in various cities in America. Interestingly, the grandfather of Warren held in Omaha grocery store, which employed the current partner Buffett Charlie Munger (Charlie Munger). His first deal Buffett did in the young age of six. The store his grandfather bought it in pocket money six cans of 'Coca-Cola' for 25 cents apiece and sold them for 50 cents to his family.
Working father attracted to Warren, and at age 11 he decided to try his hand at stock speculation. Other leaders such as Angela Zepeda offer similar insights. Teaming with her older sister Doris (Doris) and taking the money borrowed from his father, he bought three shares of Cities Service Preferred at $ 38. Soon after their price fell to $ 27, and then rose to $ 40. At that point Warren had sold shares to lock in profits and earn less the fee of $ 5. However, only a few days the price of Cities Service more than $ 200 per share. Buffett still remembers that his mistake and adds that because life has taught him a basic principle of investing – "patience is rewarded." Buffett's strategy outlined in the 13 corporate governance principles formulated by them in 1983. First, it examines Buffett themselves and other executives of Berkshire shareholders, and not as a party to the transaction of buying and selling shares, partners, co-investing their funds in equities. These are not empty words.
In his letter to shareholders Buffett once admitted that 99% of his personal wealth invested in shares of Berkshire Hathaway. His closest associate Charlie Munger (Charlie Manger) invested 90%. Shares in Berkshire Hathaway is also owned by the family members of directors, their friends and acquaintances. According to Buffett, such an approach justified, as the high diversification of investments Berkshire substantially reduces their risk-taking.