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Synopsis

When a group of economists came up with the Efficient Market Hypothesis, to explain how it was impossible for multi-billionaire investor Warren Buffett to consistently outperform other investors, they didn't count on him even outperforming them.

Debunking their theory, Buffett went on to become known for his simplistic lifestyle, running his life like a business, and thinking independently. Refusing to live his life caring about what others think of him, Buffett's life story gives us a glimpse into the mind of the man who couldn't win in his personal life, but who won in the financial arena. The Snowball: Warren Buffett and the Business Life chronicles the stories and decisions that made Warren Buffett into who he is today.

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25 questions and answers
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Some of the key factors that contributed to Warren Buffett's success in the financial arena include his simplistic lifestyle, running his life like a business, and thinking independently. He refused to live his life caring about what others think of him, which allowed him to focus on his financial goals.

Warren Buffett's disregard for others' opinions has greatly influenced his investment decisions. His independent thinking allowed him to make decisions based on his own analysis and understanding, rather than being swayed by popular opinion. This approach often led him to invest in companies that others overlooked, resulting in significant financial success.

Some key lessons from Warren Buffett's life that can be applied to business include living a simplistic lifestyle, running your life like a business, and thinking independently. It's also important not to care too much about what others think of you. These principles have helped Buffett succeed in the financial arena.

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Summary

When looking at the lives of the most successful people in the world, there seems to be a common denominator among them; they started young and ran their lives with themselves as the brand. This is true of the infamous Warren Buffet, an investor worth $77 billion dollars, who was only six years old when he started his own business selling Coca Cola and gum to his neighbors and friends. At just 14 years old, he saved up one thousand dollars from his paper route, and filed his first tax return, deducting his bike and wristwatch as business expenses. By the age of 26, he had already banked $174,000 and formed an investment partnership for his family and friends. Today, he is known as the "Oracle of Omaha," and is CEO, President, and Chairman of the holding company, Berkshire Hathaway, with a market cap of over $400 billion dollars.

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24 questions and answers
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Some of the key factors that have contributed to Warren Buffet's success as a business leader include his early start in business, his financial discipline, and his strategic investment decisions. He started his own business at a young age, showing entrepreneurial spirit and initiative. He also demonstrated financial discipline by saving and investing money from a young age. Furthermore, his strategic investment decisions, such as forming an investment partnership for his family and friends, have played a significant role in his success.

Some of the key principles that guide Warren Buffet's approach to business include starting young, being persistent, and investing wisely. He believes in the power of compound interest and the importance of reinvesting profits. He also emphasizes the importance of understanding a business before investing in it, and prefers to invest in businesses with a competitive advantage and strong management. Buffet is also known for his frugality and believes in living below one's means.

Some of the key factors that have contributed to Warren Buffet's success as an investor include starting young, being persistent, and having a clear understanding of business and investment. He started his own business at the age of six and by the age of 26, he had already banked $174,000 and formed an investment partnership for his family and friends. His early start in business and investment, coupled with his dedication and business acumen, have played a significant role in his success.

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Born in 1930, Buffet grew up during the Great Depression with a stockbroker father and a verbally abusive mother. Idolizing one parent, and loathing another shaped Buffet's life. His mother Leila would often tongue-lash both Warren and his older sister until they were sobbing. As a result, Buffett grew up with undying need to feel loved, and to be with women who would never criticize him. When he married Susie, he finally found what was missing in his life, but Susie and their three children came second to his work.Unbeknownst to him, she secretly hoping that once he made enough money, he would spend more time at home. Fifty-two years later, Susie never got her wish, and moved out. In hindsight, his vanity plate THRIFTY, should have given her a clue.

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25 questions and answers
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Warren Buffett's personal relationships, particularly with his wife Susie, had a significant impact on his business strategies. His need to feel loved and to be with women who would never criticize him, stemming from his childhood experiences with his verbally abusive mother, likely influenced his approach to business. He was driven to succeed and accumulate wealth, possibly as a way to ensure he would always be loved and not criticized. This drive may have contributed to his thrifty and focused approach to business. However, his dedication to his work often came at the expense of his personal relationships, as evidenced by Susie's unfulfilled wish for him to spend more time at home.

Warren Buffett's life story suggests that personal experiences can significantly shape professional success. His upbringing during the Great Depression and the influence of his parents, particularly his stockbroker father, likely contributed to his interest in finance and investment. His need for love and approval, stemming from his relationship with his verbally abusive mother, may have driven his ambition and work ethic. However, his personal life also suffered due to his intense focus on his career, indicating that personal experiences and professional success can sometimes be at odds.

Warren Buffett's marriage to Susie had a significant influence on his business decisions. His need to feel loved and to be with women who would never criticize him, which stemmed from his childhood experiences, was fulfilled by Susie. However, his dedication to his work often took precedence over his family, indicating that his personal life and relationships may have indirectly influenced his business decisions by providing him with a sense of stability and emotional support. However, it's also clear that his thriftiness and dedication to his work remained a constant, even within his marriage.

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Buffett was shattered by the separation, living alone and unable to clothe or feed himself. Susie kept in touch by phone, and eventually sent her friend Astrid Menks to check in on him. The restaurant hostess ended up moving in with the multi-billionaire and when Suzie died in 2004, the couple got married. Buffet sat by Susie's deathbd as she battled cancer, and was so broken after her death, that he wasn't able to attend her funeral. In his new marriage, Buffett was still unable to put anything but business first.

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21 questions and answers
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The question is not relevant to the provided content. The content is about Warren Buffet's personal life, not about other successful investors.

Warren Buffett's personal life, particularly his relationships, had a significant impact on his public image. His inability to take care of himself after his separation from his wife Susie, and his subsequent relationship with Astrid Menks, painted a picture of a man who was deeply committed to his business, sometimes at the expense of his personal life. His grief after Susie's death further humanized him in the public eye. However, his dedication to his business, even in the face of personal tragedy, also reinforced his image as a committed and focused businessman.

Some other examples of successful investors who have led unconventional personal lives include Steve Jobs, Elon Musk, and Richard Branson. Steve Jobs was known for his minimalist lifestyle and eccentric personality. Elon Musk, the CEO of SpaceX and Tesla, is known for his workaholic nature and unconventional personal life, including multiple marriages and a high-profile relationship with musician Grimes. Richard Branson, the founder of Virgin Group, is known for his adventurous spirit and unconventional business practices.

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Other women played an integral part in Buffett's growth and trajectory to super wealth. It was bridge player Sharon Osberg who convinced him to learn how to use a computer, and a writer from Fortune Magazine, Carol Loomis who helped him write his annual letters to his shareholders. These women were each pegs that Buffett clung to as he ascended to the pinnacle of greatness.

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Another notable female influence was Rose Blumkin, a Russian immigrant who came to the USA with nothing, but who became the founder of Norther America's biggest furniture store. Buffett eventually bought her out, but was knew her well enough to ask her to sign a non-compete, even though she was 103 years ole. One of his biggest role models, Blumkin was someone whom Buffett aspired to be like, and he wanted to live as long her, too.

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It wasn't until Buffett invested in the Washington Post that he met its publisher Katharine Graham. She was his ticket to high society, where he was least comfortable. A man of simple tastes, Buffet would rather eat a burger, fries, and Cherry Coke than sit down to a formal meal. He carried his own luggage when traveling, and was like a starstruck kid around celebrities, particularly when he met Princess Diana.

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Buffett has lived his life avoiding those who would criticize him, and while he is a storied business mogul, he is not so cool, calm, and collected in his personal life. One of the only tycoons who never showed off his wealth, he even named is private jet "The Indefensible." In line with his simplistic personal lifestyle, he applied those same principles to his business life, with four simple rules of investment; don't invest in something you don't understand, distrust debt, be in there for the long term, and build in a margin of safety.

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Aside from those four strategies, it all comes back to Buffett living his life by his inner scorecard. Not going with the flow has saved him millions of dollars, such as when he refused to get in on the dotcom boom. He was proven right, ten fold. In 2003, he warned of the "weapons of financial mass destruction," referring to the driving force behind the credit crunch. Again, he was proven right.

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Despite his strategic rise, many people believe Buffett's success was a result of chance. In the mid-80's, a group of economists came up with the theory of "Efficient Market Hypothesis," to explain the reasons why it was impossible for someone like Buffett to consistently outperform his competitors. Buffett debunked their theory by naming eight peers who had the same type of performance, and who were mentored by David Dodd and Benjamin Graham.

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If Buffett cared about his outer scorecard, he would have realized many losses. His belief that inheritance tax should be increased, ruffled many feathers. Calling it the "Ovarian Lottery," he didn't believe that children should automatically win their family's wealth. Not only did he alienate the business world with this campaign, but he divided his family, applying the same principle to his own children and siblings. He shunned his adopted granddaughter in a letter saying that he had "not legally or emotionally adopted" her as a grandchild.

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Gifted in so many ways, and a business genius, his inner scorecard is definitely a winner, and for him, that's all that matters.

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