Warren Buffett on Business : Principles from the Sage of Omaha

Appendix A

Warren E. Buffett, A Chronological History

(A Condensed Version)

 

 

 

1930-1931

Warren E. Buffett was born August 30, 1930, in Omaha, Nebraska, to Howard and Leila Buffett. Warren adored his father, who called Warren “Fireball.”

His father was a stockbroker and in 1931 founded Buffett-Falk & Company after he lost his job at a bank that had closed the year before. He also served as a U.S. Representative from 1942 -1948 and from 1950-1952.

 

1936

Warren’s first business was selling Cokes. He would buy six for 25 cents from Buffett & Son, the family grocery store, and sell them for 5 cents each.

 

1942

Warren and his sister purchase six shares of Cities Service preferred stock at a cost of $38 per share. The price declines to $27, rebounds to $40 and Buffett sells. A few years later, the price increased to over $200 per share.

 

 

1943

Buffett files his first income tax return, deducting his bicycle as a work expense.

 

 

1945-1947

Warren delivers (earning $175 a month) Washington Post newspapers. He and a high school friend purchased a 1928 Rolls-Royce for $350 and rented it out for $35 a day. They also ran a peanut vending machine and pinball machine business in local barber shops. They sold the business, Wilson Coin-Operated Machine Company, for $1,200.

Warren purchases 40 acres of farmland for $1,200.

Warren has earned $5,000 and enrolls as a freshman at the Wharton School of Finance and Commerce.

 

 

1949-1950

Warren, dissatisfied, leaves Wharton after his junior year and transfers ...