Portfolio II part III

Brent Archibald
Professor Domet
English 289 014
2 November 2009
The Obsession of Money
Warren Buffett the world’s second richest man is known for his incredibly large fortune. Today he is worth over $50 billion dollars more than some countries. However Warren Buffett’s fame and notoriety has grown right along with his bank account. His financial knowledge has influenced several books, websites, and influences the stock market in the investments he makes. This extreme wealth can be traced back to his hard work ethic back in high school delivering papers and reading about stocks. Warren has amassed his fortune largely by buying big brand name companies when they are what he considers cheap in the stock market. Some examples of the companies that he owns are Coca-Cola, Procter and Gamble, and Johnson & Johnson just to name a few. He can help young people to if you only pay attention to his frugal habits.
While we may not be as obsessed with making money there are many life lessons to be learned from a man like Warren Buffett. These lessons that we could learn from Buffett would benefit younger people. He believes that you should not own a credit card because of the serious amount of interest that they charge. Warren also believes in only buying what you need and not buying many toys. This is how he lives his life too. Consider this, he could buy anything in the world yet has only one car and a house he bought over forty years ago.
Warren reads on average six or more hours a day saying that there are billion dollar ideas in newspapers. Start early on saving your money and investing it is a huge piece of advice we can learn from one of the richest men in the world. Remember that Warren was young once too and lacked the knowledge and the income, but if you work hard and are determined to succeed you to will be an American success story. If more people follow Warrens lead at an earlier age, by not spending so much money they will be amazed at how a small amount of money can grow. Now let’s start today and maybe one day you too will have fifty billion in the bank.