Legendary value investor Warren Buffett sat out the stock market bubble. Today, he’s sitting prettier than ever.
by James Maccaro
It is well known that Warren Buffett has been
very successful in the markets. He amassed
his fortune from his base in Omaha, NE, far
from Wall Street, and did so by ignoring the
conventional wisdom of other professional
investors. His philosophy is to “be fearful when others are greedy and greedy when others are fearful.”
Buffett was a protégé of Benjamin Graham, whom many
consider to be the father of security analysis. Buffett was a
student of Graham at Columbia University; at the time, Graham
was a part-time instructor there as well as president of a money
management firm. After graduating in 1951, Buffett worked
for Graham as a security analyst. He also invested his own
funds, and was able to turn $9,800 into $140,000 by 1956.