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Nicknamed the "Oracle of Omaha", Buffett has amassed a substantial fortune from astute investments through his company Berkshire Hathaway, of which he holds 38%. With an estimated net worth of $42.9 billion as of 2004, he is ranked by Forbes as the second-richest person in the world, behind Bill Gates.
Buffett was born in Omaha, Nebraska. His father Howard Buffett was a stockbroker and member of Congress. Buffett was educated at the University of Nebraska (transferring there from the Wharton School of Finance and Commerce at the University of Pennsylvania) and took a masters in economics at Columbia University, studying under Benjamin GrahamBenjamin Graham (1894 1976) was an influential economist and professional investor who is today often called "the father of value investing". He is perhaps best known today from frequent references made to him by billionaire investor Warren Buffett, who s. He went on to work for Graham at Graham-Newman where he followed Graham's value investingValue investors buy beaten-down companies whose shares appear cheap when compared to current earnings or corporate assets. Value investors typically buy stocks with high dividend yields, or ones that trade at a low price-to-earnings ratio (P/E) or low pri rules. Buffett returned to Omaha in 1957Events January January 2 San Francisco and Los Angeles stock exchanges merge. January 3 Hamilton Watch Company introduces the first electric watch January 4 After 69 years the last issue of Colliers magazine is published January 5 Russell Endean becomes t and started his own investment partnership, putting in his own money and raising additional investments from friends and family. By 1969For other uses, see Number 1969. For the movie, see 1969 (movie). Events January January 1 Australian media baron Rupert Murdoch purchases the largest selling British Sunday newspaper The News Of The World January 5 The Derry Riots leave over 100 people i, he had returned an average of almost 30% a year, in a market where 7% to 11% is the norm and anything more is outstanding. Under Buffett's direction, Berkshire has outperformed market benchmarks such as the S&P 500The S&P 500 is a list of 500 US corporations, ordered by market capitalization. The list is owned and maintained by Standard & Poor's Corporation. All of the companies in the list are large publicly-held companies which trade on major US stock exchanges s and the Dow Jones Industrial AverageThe Dow Jones Industrial Average DJIA is one of several stock market indices created by Wall Street Journal editor and Dow Jones & Company founder Charles Dow. Dow compiled the index as a way to gauge the performance of the industrial component of America for over forty years.
He married Susan Thompson in 1952Summary of notable events in 1952 . Events January events January 8 West Germany has 8 million refugees inside its borders. January 24 Sudden heavy snowfall in Algeria. January 24 Vincent Massey sworn in as first Canada-born Governor-General of Canada.. They separated in 1977For the album by Ash, see 1977 (album). Events January 1 First woman Episcopal priest ordained January 6 EMI sacks the Sex Pistols January 18 Scientists identify a previously unknown bacterium as the cause of the mysterious " legionnaire's disease" Januar but remained married. She was a significant stockholder in Berkshire Hathaway and a board member. Mrs. Buffett died on Thursday, July 29, 2004 from a stroke. Buffett lives with Astrid Menks; his late wife largely resided in San Francisco in recent years. He has three children. Warren Buffett has not yet named any clear successors to his enterprise.