How can you become the next 'Warren Buffett'?

Updated: Nov 18, 2019

In 1930, During the great depression, there was a family who was struggling with their lives and after so many efforts one of the family members (father), failed to get hired at the family grocery store. Without a job, and without any money after a run on the banks, the family of four ran up a tab of grocery bills at the store to put food on the table, and even then, his mother sometimes skipped meals. Among the family, there was a little boy who was very depressed to see his family’s situation.

Somehow times passed and the family gradually achieved a financial health which was worth to live. Father started a small stock brokerage firm. Young boy started showing an aptitude for numbers. He became obsessed with timing everything, calculating odds, even tallying the frequency of the letters that appeared in the bible most frequently.

The only constant thing that the boy had was ‘I just don’t want to be poor.’

For the money, he started collecting Coke bottles to make some money by selling them at a very young age.

He liked to read more than other kids.​​

Started selling CocaCola and gums door to door and throwing 500 newspapers in a day early in the morning to collect some money. ( one paper = one penny).

At the age of 10, he took a book from a library ‘One Thousand Ways to Make $1000’ and like the idea of buying a penny weighing machine as his first investment from his collected money. By the time Buffett was 15, he already had a net worth of about $6,000.

He sat and calculated how much it cost to buy an another machine and how much time is required to do so. He bought another and invested somewhere else and so on.

At 11 years old, he was already buying stock: multiple shares of Cities Service Preferred for $38 apiece. When he was just a teenager, he filed his first tax return.

  • By the time he graduated high school, Buffett had already bought a stake in a 40-acre farm in Omaha, Neb.

  • At age 21, his net worth was just $20,000.

  • By the time Buffett reached 26, his net worth was between $140,000 and $174,000.

  • He topped the $1-million mark at around when he was 30 years old.

  • By age 43, Buffett’s personal net worth was at a high of $34 million.

  • He topped the $1-billion mark at around when he was 56 years old.

After so many years, he was the owner of the company which was named as fourth largest company in Fortune 500. He is the only person who has ever buildt a company from scratch that is in the Top 10 of Fortune 500.

His company’s name is Berkshire Hathaway and his name is Warren Buffett, the fourth richest man in the world.

In 1972, he purchased See’s Candies stocks for $25 million, and the company would haul in about $2 billion in profits over the next 50 years.

Berkshire Hathaway is actually a parent company that owns large number of sepate businesses that operate independently of each other.

Buffett bought a controlling share in Berkshire Hathaway in 1965 and bought the stocks in few thousand dollars, Today, one share of the company is worth Rs. 2.1 Crore Rs. ( As on 26/07/2018)

Now come back to your normal life. You also want to make money by investing in stocks right?

It doesn’t matter whether you want to learn it or not, whether you learn it for Indian stock market or wall street, the rules won’t change, they never will.

Those who still haven’t found the answer should know that stock market is not game to play or a place where making money is easy, it is the platform which demands knowledge, expertise and luck and that too ‘simultaneously’, if anyone thing is missing then you are going to lose for sure. In stock market you analyze the company and read about it thoroughly, you make analysis (Fundamental and Technical), then chose the best suitable stock to invest and expect the money to grow over time.

The fundamental analysis comprises of: Company’s management, cash flows, valuations, books, debts, past performances, dividend, its short term, and long term potential to back its debts, vision, mission, scope, strategies, future prospective, key people, bottom-line performance over time, earnings, etc.(You can learn it here ESFA in just 30 days)

The technical analysis comprises of : Candlestick charts, different indicators to find out the stock current trend, entry points and exit points. Different strategies and indicators for daily trade mechanism. (You can learn it here Technical Analysis)

This question has been asked by thousands of people in hundreds of ways just to get one suitable answer which can drive them to learn stock market in minutes or less. (You can learn it here ESTA in just 30 days.)

Prepare yourself in a way that even if you are jobless, unlucky enough to peruse your higher education, failed to qualify some most important exams, unfortunate enough to sit at your home because of recession, You still can generate your income from a source that has been made, discovered and created by you slowly and steadily by working hard contributing daily by some of your time learning it and never invest even a single penny until you know how it actually works. Don’t even listen to other people and their bullshit talks.

Akshay Seth | Linkedin (Connect here) Get daily stock recommendations here

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