Warren Buffet

Warren Buffet was born in 1930.  Investing was in Buffets genes, as his father, Howard, was a successful stockbroker and also a congressman. Warren always had an eye for business.  He had 2 paper routes for the Washington Post, He also made money by collecting and selling lost golf balls. When Warren was eleven he purchased three shares of Cities Service Preferred at $38 per share for both himself and his older sister, Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them – a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: patience is a virtue.   He began betting on horses at 12, and started a pinball machine business while in high school, earning him $50 a week. By graduation, he also had bought himself forty acres of Nebraskan farm land with his profit.
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