Article by Prasoon Kumar
It was in 1940, when young (just ten years old) Warren Buffet was taken to Wall Street by his father. The incident is especially interesting because the visit was his birthday gift. He had the opportunity to meet Sidney Weinberg from Goldman Sachs and at the end of the conversation, even he was enamored with the interest the young boy had in the stocks and he asked the question that everyone started asking after that – which stocks do you like?
An Absorbing Read
Although The Snowball is his (Warren Buffet’s) official biography, hence it is not expected to answer difficult questions; still The Snowball is an absorbing read. The author of the book The Snowball Alice Schroeder has approached her subject very seriously and she covers very vast terrain in the book at the same time. Warren Buffet chose Alice Schroeder to write The Snowball because he shares warm rapport with her and she is appreciative about him (who isn’t?).
All the Intricacies Are There
Alice Schroeder has kept pace with the life of Warren Buffet and has tracked all the intricacies related to the business empire of Warren Buffet really well. She also manages to explain all the financial issues as well as the different personal story of her subject very clearly. The book The Snowball: Warren Buffett and the Business of Life is definitely a must read in anyone interested in knowing more about Warren Buffet or the way he created his own life or built his business empire.
Obsessed With Numbers
Alice Schroeder says Buffet’s obsession with numbers, research and calculations started at a very young age. His money making endeavors started taking shape when he was just six years old, and he was particular about one thing – he hoarded all the money he made (one can infer he hates spending the money he makes).
Tax Returns at the Age Of 14
The author of The Snowball further mentions that at the age of 14, Warren Buffet had a newspaper delivery business and he made enough money so that he could file a tax return of $ 7 (bicycle and watch were treated as business expenses). At his high school, he was the only person making more money than his teachers and he was sure the college would slow him down. Still he went to Harvard Business School which rejected him and after that he had to go to Columbia. There Benjamin Graham became his mentor and Warren Buffet finally came out of his cave. His tenacity in finding out the undervalued stocks can be called superhuman. Even his wife had no idea how much money her husband was making until she accidentally misplaced her dividend checks and rushed to retrieve them.
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