World's Richest Men - RichestMen.net

Second Spot: Warren Edward Buffett

Warren Edward Buffett (born August 30, 1930) is a wealthy American investor and businessman. Nicknamed the "Oracle of Omaha", Buffett has amassed an enormous fortune from astute investments, particularly through his company Berkshire Hathaway, in which he holds a greater than 31% stake. With an estimated current net worth of $37 billion (losing $25 billion during 2008), he is ranked by Forbes as the second richest person in the world (losing the number one spot back to Microsoft chairman Bill Gates after finally gaining it in 2008).

Fortune	Business	Country	Status
37 Billion	Investments	USA	Widowed, remarried, 3 children

After receiving the only A+ Benjamin Graham ever handed out to his security analysis class, Buffett wanted to work at Graham-Newman but was turned down. He went to work at his father's brokerage as a salesman. A stock he pushed was GEICO.

Buffett picked GEICO after noticing Graham was a director and had a large position in it. Never one to buy a stock on a whim, Buffett visited GEICO's head office on a weekend to investigate further.

He knocked until someone opened the door, he was led to the future president of GEICO. Buffett introduced himself as Graham's student and was given a crash course on the insurance business and what gave GEICO an enduring advantage over their competitors. Buffett was exposed to the economics of selling direct, the wonderful float GEICO produces, its low combined ratio and the likes. (wiki)

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