I, Warren Buffett, an investor with a profound impact on the world economy, began my story in Omaha during the Great Depression. In that era of material scarcity and widespread anxiety, I was born into an ordinary family, yet I harbored an infinite obsession with numbers and investing.
My childhood was not smooth; the turmoil in my family left a profound imprint on me. My mother Lila's irritability and reproaches made me long to escape that oppressive atmosphere from a young age. However, it was this environment that shaped my sensitive yet resilient character and ignited my strong desire for self-protection and success.
During my school years, I showed a strong interest in investing. My experiences at the Wharton School and Columbia University gave me the opportunity to study under investment master Benjamin Graham, whose value investment philosophy served as a guiding light illuminating my investment path. Under Graham’s careful guidance, I gradually mastered the technique of finding 'cigar butt stocks,' which involves discovering companies with market values below their net assets through extensive reading and careful calculations in an opaque market, and daring to hold large positions, even directly asking company management for dividends.
In 1951, I returned to Omaha and began selling securities. However, I never forgot Graham's teachings and maintained close contact with him. Finally, in 1954, I got the opportunity to work at Graham-Newman Corp. This experience not only allowed me to accumulate valuable investment experience but also gave me a profound understanding of the unpredictable nature of the market and the hardships of investing.
In 1956, I returned to Omaha and founded my own investment partnership. Initially, I only aimed to help relatives and friends manage their funds, but unexpectedly, I embarked on the path to my investment empire. I adhered to the philosophy of value investing, focusing on finding high-quality companies that were undervalued by the market, and I dared to buy in when companies faced difficulties. Over time, my investment performance gradually gained market recognition, and the scale of my partnership continued to expand.
Throughout my investment career, I have encountered many challenges and opportunities. I have invested in numerous well-known companies such as Coca-Cola, Gillette, and GEICO, and have experienced acquisitions and integrations involving firms like Solomon Brothers and Berkshire Hathaway. With each investment, I have adhered to a cautious and focused attitude, striving to achieve maximum returns while keeping risks manageable.
My success is not a coincidence; it stems from a love for investing, a respect for the market, and strict self-discipline. I firmly believe that focus and restraint are key to investment success. I concentrate on studying the market and analyzing companies, never letting short-term market fluctuations disturb me; I practice restraint in the use of money and the distribution of wealth, investing most of my assets in stocks and adhering to the philosophy of long-term investing.
Today, I have entered the twilight years of my life, but my passion for investing has never waned. I still read a vast amount of market information and company annual reports every day, looking for investment opportunities that the market has overlooked. I understand that investing is a marathon, not a sprint; only by maintaining lasting endurance and focus can one remain undefeated in the market.
Looking back on my life, I am grateful to those who have helped and supported me along my growth journey. I appreciate my family, friends, partners, and all the investors who have trusted me. It is they who have given me the opportunity to realize my dreams and create my own investment legend.
In the days to come, I will continue to uphold the philosophy of value investing and create more value for my investors. I also hope that my story can inspire more people to pursue their dreams and create their own brilliant lives.