Lessons from Warren Edward Buffett
Last month, the world’s most successful investor and one of the richest man visited Daegu, in Korea. His name is Warren Edward Buffett, Chief Executive Officer of Berkshire Hathaway. He is consistently ranked among the world’s wealthiest people and he is now the third wealthiest person in the world. How could he become such a powerful figure? In a recent interview, he answered this question into three parts; person, business, and society. Let’s examine the factors lead him to make money one by one.
First, make your own way. If you want to enhance your value, you should not follow behind crown. Just do what you believe. For example, in 1990’s, IT stock prices spiked with IT boom, Warren Buffett never invested IT because he was not familiar with it and did not believe it. That is the reason he was doing well after IT bubble broke.
Second, invest business leadership. When you invest business, you should pay attention to leadership. Warren Buffett understands the business as a whole such as CEO’s propensity, aims, or financial policy, and analyzes growth potential. He never makes an investment just for type of it or fame. That seems the reason he make an investment in Posco, not Samsung.
Finally, build supportive society. Warren Buffett said that if he was not born in America, he could not make money. Even If he had a belief and he had sharp understanding about stock market, it would be difficult to be one of the richest men in the world if he was born in Haiti. Therefore, it is essential to make society supportive enough to optimize your ability.
In short, if you want to make money, you should think about the value of person, business, and society. Keep going your way as you believe, invest potential based on sharp understanding, and nurture supportive society. With patience and perseverance, your dreams eventually come true.
It was really interesting story since I had me involved in investment. This was very fresh topic. However, there are few points I'd like to mention to improve your essay.
ReplyDeleteI can see clearly the three reasons Warren Buffett could be successful investor, but I don't see any results from that. What has he done to people and to the world? Any good or bad effects he made are to be included in your writing since the essay is supposed to be about cause and effect.
Second, I have a question about three reasons. You wrote three reasons as if you are giving tips to be a good investor, something that we could do in real life. However, the third reason which said 'build supportive society' is not one thing a person can do really by himself. I think it would be better if you just mentioned the supportive environment as a good factor for making a good investor. Other than these, I really like your essay. I can't wait to read your 2nd draft! Good Job!^^
Final draft
ReplyDeleteLesson from Warren Edward Buffett
Last month, the world’s most successful investor and one of the richest people paid a visit to Daegu, Korea. His name is Warren Edward Buffett, Chairman and CEO of Berkshire Hathaway. He is consistently ranked among the world’s wealthiest people and he is now the third wealthiest person in the world. How could he become such a powerful figure? In a recent interview, he answered this question into three parts; person, business, and society. Let us examine the factors led him to make money one by one.
First, make your own way. If you want to enhance your value, you should not go with the crowd. Just do what you believe. In 1990’s, for example, IT stock prices spiked with IT boom, Warren Buffett never invested in IT because he was not familiar with it and did not believe it. That was the reason he was doing well after IT bubble broke.
Second, invest in business leadership. When you invest in business, you should pay attention to leadership. As Warren Buffett, you need to understand the business as a whole by considering CEO’s propensity, aims or financial policy, and analyze growth potential. Warren Buffett never makes an investment just for types of stock or fame of business.
Finally, meet supportive society. Warren Buffett said that if he had been born in America, he could not have made money. Even if he had belief and sharp understanding about stock market, it would be difficult to be one of the richest men in the world if he was born in Haiti. Therefore, it is essential to meet society which is supportive enough to optimize your ability.
In short, if you want to make money, you should have three important points of view; person, business, and society. Keep going your way as you believe, invest potential based on sharp understanding, and nurture supportive society. With patience and perseverance, your dreams eventually come true.