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← Best Buffett: The Making of an American Capitalist to read ↑ Ebook Author Roger Lowenstein ❢

← Best Buffett: The Making of an American Capitalist to read ↑ Ebook Author Roger Lowenstein ❢ ← Best Buffett: The Making of an American Capitalist to read ↑ Ebook Author Roger Lowenstein ❢ Chapter 1 OMAHA Like a diamond set in emerald, gracing the west bank of the Missouri River, lies Omaha, the wonder city of the West and marvel of enterprise, ability, and progressiveness TELEPHONE COMPANY PROMOTION, 1900 Almost from the day that Dr Pollard awakened him to the world, six pounds strong and five weeks early, Warren Buffett had a thirst for numbers As a boy, he and his friend Bob Russell would pass an afternoon on the Russells front porch, which overlooked a busy intersection, recording the license plate numbers of passing cars When the sky darkened, they would go inside and spread open the Omaha World Herald, counting how often each letter appeared and filling entire scrapbooks with progressions of numbers, as though they held the key to some Euclidean riddle Often, Russell would reach for the almanac and read out a list of cities One by one, Warren would spit back the populations Id say a city, hed hit it on the nose, Russell would recall, half a century later I might say, Davenport, Iowa Topeka, Kansas Akron, Ohio If I gave him ten cities, hed hit every one Baseball scores, horse racing oddsevery numeral was fodder for that precocious memory Combed, scrubbed, and stuffed into a pew of Dundee Presbyterian Church, Warren would pass the time on Sundays calculating the life spans of ecclesiastical composers He would stand in the living room with a paddle and ball, counting, counting by the hour He would play Monopoly for what seemed forevercounting his imagined riches Blue eyed, with a fair complexion and pink cheeks, Warren was intrigued not merely with numbers, but with money His first possession was a nickel coated money changer, given to him by his Aunt Alice at Christmas and thereafter proudly strapped to his belt When he was five, he set up a gum stand on his familys sidewalk and sold Chiclets to passersby After that, he sold lemonadenot on the Buffetts quiet street, but in front of the Russells house, where the traffic was heavier At nine, Warren and Russ would count the bottle caps from the soda machine at the gas station across from the Russells house This was not idle counting, but a primitive market survey How many Orange Crush caps How many Cokes and root beers The boys would cart the caps in a wagon and store them in Warrens basement, piles of them The idea was, which brand had the highest sales Which was the best business At an age when few children knew what a business was, Warren would get rolls of ticker tape from his stockbroker father, set them on the floor, and decipher the ticker symbols from his fathers Standard Poors He would search the local golf course for used but marketable golf balls He would go to Ak Sar Ben racetrack and scour the saw dusted floors, turning over torn and discarded stubs and often finding a winning ticket that had been erroneously thrown away In the sweltering Nebraska summers, Warren and Russ would carry golf clubs for the rich gentlemen at the Omaha Country Club and earn 3 for the day And at dusk, as they rocked on the Russells front porch glider in the stillness of the Midwestern twilight, the parade of Nashes and Stude bakers and the clanging of the trolley car would put a thought in Warrens mind All of that traffic with no place to go but right by the Russells house, he would sayif only there were a way to make some money off it Russells mom, Evelyn, recalled Warren after fifty years All that traffic, he would say to her What a shame you arent making money from the people going by As if the Russells could set up a toll booth on North 52nd Street What a shame, Mrs Russell What, then, was the source Warren was the second of three children, and the only son His mother was a petite, feisty woman from a small town in Nebraska She had a lively temperament and, as was said of women relegated to a supporting role, a good head for numbers Warrens father, a serious but kind man, was surely the dominant influence in his life Opening to Warrens eyes the world of stocks and bonds, he must have planted a seed, but insofar as such things are knowable, Howard Buffetts acumen for numbers was not on a par with his sons Nor was his passion for making money What was it, then, that prompted Warren to turn from that mannered, comfortable householdto crawl along the floor of the racetrack as though it were a bed of pearl oysters What was it that would enable him, years later, to stun his colleagues in business time and againby computing columns of figures in his head, and by recalling encyclopedic volumes of data as easily as he had the population of Akron Warrens younger sister, Roberta, said flatly, I think it was in his genes The Buffetts were said to be gentle and sweet natured, traits that endured They were skilled at business and loath to spend a dollar The earliest known Buffett pronounced Buffett in America, John Buffett, was a serge weaver of French Huguenot origin He married Hannah Titus, in Huntington, on the north shore of Long Island, in 1696.1 The Buffetts remained on Long Island, as farmers, until after the Civil War But they had a streak of ambition, which clashed with the familys frugal ways In 1867, Sidney Homan Buffett was employed at clearing land for Zebulon Buffett, his grandfather On hearing of his fifty cent per diem wage, Sidney became so disgusted that he put down his ax and headed west He took a job driving a stage out of Omaha, and in 1869 opened the S H Buffett grocery With Omaha still in its frontier beginnings, the Buffetts were ensconced in the citys commercial life, a mile and a half from the wooded site of the future office of Americas richest man Omaha was a cluster of frame and log buildings, set against the rugged bluffs rising from the Missouri River Though the plains stood at its door, the town itself was hilly The area had been wilderness until 1854, when a treaty with the Maha Indians later the Omahas opened the Nebraska Territory to settlement The seminal moment in its growth was in 1859, when an Illinois railroad lawyer named Abraham Lincoln visited the area and took a parcel of land as collateral for a defaulted loan A few years later, President Lincoln designated the city as the eastern terminal of the Union Pacific Railroad Sidney Buffett opened his store, with impeccable timing, three months after the railroads joined the continent Omaha was already the great jumping off place for engines belching across the plains.3 It soon was teeming with settlers, drifters, speculators, Civil War veterans, railroad men, ex convicts, and prostitutes, many of whom happened upon the Buffett grocery, where Sidney sold quail, wild ducks, and prairie chickens over the counter Zebulon was highly dubious of his prospects Writing to his twenty one year old grandson, Zebulon stressed that prudence in business was the Buffetts watchword You cant expect to make much, but I hope business will get better in the spring But if you cant make it, do leave off in time to pay your debts and save your credit, for that is better than money But the young city prospered, and Sidney prospered with it By the 1870s, Omaha had cast iron architecture and an opera house By the turn of the century, it had skyscrapers, cable cars, and a swelling population of 140,000 Sidney built a bigger store and brought two sons into the business The younger of these, Ernestthe future grandfather of Warrenhad the family knack for business He quarreled with his brother over a girl, and married her, whereupon the brothers stopped speaking In 1915, Ernest left the downtown store and established a new oneBuffett Sonin the citys western reaches Once again, the Buffett timing was shrewd Omahas population was migrating west from the river Sensing opportunity in the suburbs, Ernest cultivated a delivery trade and sold on credit Soon, rich families cooks were phoning orders to Buffett Son The business grew, and Ernest hewed to the Buffetts tightfisted ways He paid the stock clerks the lordly sum of 2 for an eleven hour shift, accompanied by a lecture on the evils of the minimum wage and similar socialistic mandates Tall and imposing, Ernest did not merely run the storehe tyrannized it Ernests son HowardWarrens fatherhad no interest in becoming a third generation grocer Howard was independent minded, like Ernest, but warmer and without the bluster He worked briefly on an oil pipeline in Wyoming, but his true interests were in the life of the mind At the University of Nebraska in Lincoln, Howard was editor of the Daily Nebraskan, and aspired to a career in journalism Though not particularly handsome, he had dark hair and an arresting gaze As fraternity president, he had his pick of society belles But in his senior year, Howard met a hardscrabble country girl who was anything but society Leila Stahl had grown up in West Point, Nebraska, a bleak, rural town of 2,200 people Her father, John Ammon Stahl, owned a weekly paper, the Cuming County Democrat Most of the people in town were Germanic, and the English speaking Stahls were outsiders Leilas mother felt particularly isolated and spent much of the time bedridden and depressed Leila and her brother and two sisters had to fend for themselves, and Leila had to help her father at the County Democrat From the fifth grade on, she would sit on a high stool and set type by hand, and later by Linotype Sometimes when a train stopped in West Point she would rush on board and interview passengers to fill the news columns On Thursdays, this slight schoolgirl stood beside the fly of the giant press, firmly gripping the sheets of newsprint and taking care to pull each one at just the right moment In time, Leila developed pounding headaches, synchronized with the press run of the County Democrat.Only in America The bonus of this fine, fine biography is that it could turn you into an investor, if you re not one already or a better one, if you are Lowenstein has done a great job with a great subject Andrew TobiasMr Lowenstein has done a masterly job The New York Times Book Review Warren Buffett Wikipedia Warren Edward b f t born August , is an American business magnate, investor, speaker and philanthropist who serves as the chairman CEO of Berkshire HathawayHe considered one most successful investors in world has a net worth US billion November making him third wealthiest person The Making Capitalist Kindle edition by Roger Lowenstein Download it once read on your device, PC, phones or tablets Use features like bookmarks, note taking highlighting while reading BuffettNews leading authority Jimmy Buffett From Boat A Pirate Looks at Mark Corke Gulf western musician, singer, songwriter, author, Buffet, new sailboat Here s look inside Ted Fontaine designed Drifter For boaters certain age, there good chance they ll have few songs their playlists Decision Models Used Jeff It was Bezos rising corporate star working top hedge fund Wall Street As youngest ever senior VP DE Shaw Co, he set for life Until quit According Buffett says terrible mistake long term said his annual letter practice managing portfolio risk using specified ratio bonds to stocks flawed Hathaway chief argues diversified Jimmy caddied Senior Women Open round, thus chillest round How Make Your First Million Way Whether you re looking investment advice striving financial greatness, might be perfect role model Known holding company Hathaway, estimated according Forbes Margaritaville Official Site site Tour Dates Restaurants, Hotels, Casinos, Resorts, Vacation Club Products Giving All Away Doris Story given away million Her brother Buffett, famous investor billionaire They discuss tumultuous childhood triumph Giving FAQ When asked about relative attractiveness bonds, arbitrage, etc replied Charlie I are competent make judgments things, not other things anyone flying Omaha meeting held each year Omaha, Nebraska will take place May shareholders may want consider into Kansas City Apple Is Now Largest Investment Feb In just under two years Apple now largest This fairly amazing since only invested technology companies over career Jeff Bezos, Jamie Dimon fix Jan Can health care partnering with JPMorgan Chase, admits made Google, often avoided tech past because didn really understand how were money whether would able do so Nov Coral Reefer Band perform Taco Bell Arena Boise Idaho March part Son Sailor tour that Jul town concert Wrigley Field Friday, niece Patricia Ehrhart, amateur player competing event Ehrhart former LPGA pro left Oct but Oracle wasn silver spoon teachings compiled first time known Woodstock capitalists some added shares its December quarter per WhaleWisdom With Dec We call formula, named after longtime partner MungerThese extraordinary combination minds also learning machines can see, hear greatROGER LOWENSTEIN ROGER LOWENSTEIN reported Journal than decade His work appeared Journal, Bloomberg New York Review Books, Fortune, Times Magazine, publications Roger journalist writer He graduated from Cornell University decade, including writing Heard column, Author Genius Failed frequent contributor Republic RogerLowenstein Twitter Aretha Franklin Had Power Did Truly Respect via NYTimes history rewritten thru present day lens released amid assassinations Rockwell, which months later America Bank, Times By Illustrated pp Penguin Press Robert E Rubin, co Council Foreign Relations, Treasury secretary Fortune Read latest stories Fortune The expensive lesson GE never learns Washington Post October How MeToo movement executive compensation No joke Corporate America abused too mockery fairness Buffett: The Making of an American Capitalist

 

    • Buffett: The Making of an American Capitalist
    • 2.2
    • 137
    • Format Kindle
    • 512 pages
    • Roger Lowenstein
    • Anglais
    • 07 May 2017

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