In the history of the investment industry, Warren.Buffett can be said to be the champion.Starting from scratch, he only engaged in stock and business investment, accumulated huge wealth, and became the crown of the world's richest man in the 20th century.In 40 years (enough to eliminate the influence of accidental factors), Buffett's performance in the stock market is extraordinary, and he has achieved amazing profits. He has never encountered too much risk, and has not had a loss year. This is really a miracle!In the eyes of market experts, Wall Street brokers and bystanders, it is simply an incredible thing.Through continuous, high-quality rollovers, Buffett has netted $9.7 billion in earnings.

Whether the stock market is booming or weak, whether the economy is booming or not - Buffett has always done well in the market - from the Eisenhower era to Bill.Clinton was in power, from the 50s to the 90s, from loafers, the Vietnam War to bonds, the information age.In the United States after the war, the average annual rate of return of major stocks was around 10%, but Buffett reached the level of 28.6%. Even more important is the uniqueness of this achievement: it is the result of traditional long-term investment.The modern financier on Wall Street has grown rich by controlling the public's money, with the core skill of buying and selling at the right time.Buffett has avoided the game, and the excesses for which Wall Street has become notorious.In fact, he has rediscovered the art of pure capitalism — grim and fair.

Ordinary shareholders who invest in Buffett have also become rich. Compared with the capital that was handed over to Buffett for operation, the value-added figure is almost unimaginable.If one had invested $10,000 at the beginning of Buffett's career (not counting his studies in Omaha in 1956) and stuck to it, by the end of 1994, the fortune would have reached $800 million. However, the numbers alone are not enough to explain the brilliance Buffett has created on Wall Street.Once a year, believers and investors flock to Omaha like saints on a pilgrimage to listen to Buffett analyze the complexity of investment, business, and finance. Easter.When people in the financial world arrive in Omaha, they regard Buffett's writings as the "Bible" and recite Buffett's aphorisms as if they were reading a sermon.

His ability to grasp the essence of things led to drama throughout his life.Before people made the pilgrimage to Omaha, before Buffett did his best, he stood in the corner of a college party with his boyish face and bright eyes, seeing people as a bunch of drunken huddles old friend.Years later, when these friends became Young Members of Wall Street Ventures, the ceremony was the same.Buffett, the youngest of the group, sits on a chair at the club while others gather around him to listen to his analysis of the financial situation. On Wall Street, Buffett's down-to-earth style has made him a cult icon.Business on Wall Street is surprisingly complex, and Buffett explains it like a department store clerk talks about the weather.

He had always believed that there was something tangible and orderly about the bonds of every stock, no matter how mysterious, and in Wall Street jargon he seemed to think otherwise. Interestingly, as more and more Americans reap investment income, Wall Street has become more complicated, more esoteric, more mysterious, and more terrifying.When Buffett was born (during the Great Depression), few Americans had enough capital to invest. They could only save their money or buy AAA bonds.The shadow of the Great Depression was overshadowed by the postwar boom.Hundreds of thousands of dollars is a small sum today, but few are satisfied with it, and few still retain their old prudent habits, at best scanning financial reports eagerly, as if daily changes in housing or inflation figures could Bringing the long-awaited "answer," at best, they eagerly switch investment funds in a way that shocked their fathers.

In such a complex age, what is amazing about Buffett is his adaptability. Most things can be imitated by ordinary people (which is why so many people flock to Omaha).Buffett's genius is his character: cautious, rigorous, rational.And these ordinary characters, which are essential for those who fight the stock market, are rare in times of financial frenzy.As such, Buffett's character and career have elevated him to the status of a public mentor to the investment industry and corporate America.Buffett was aware of his role from the beginning, and developed a habit of documenting his extraordinary behavior.

As an investor, Buffett avoids the use of financial leverage, futures, dynamic hedging, modern portfolio analysis, and other arcane things developed by academia.Unlike modern portfolio managers (whose mindset is that of a trader), Buffett invests his capital in the long-term growth of a handful of businesses.In this, he imitated the giants of the previous generation, such as JP Morgan. But the enigmatic Morgan is Wall Street's archetype, and Buffett, an outspoken Midwesterner, is its rebel.He once quipped that it was bankers who should be wearing ski masks, and he once told a friend who worked in finance: "You don't have much trouble on the Wall Street highway."

He once wrote that it would be better to ask a barber if he needed a haircut than to listen to an investment banker's opinion on whether to close a deal.These commonplace, high-spirited ideas made him the archetype of something fundamental about the country's past, fulfilling the American need for a true hero. This has always been an American folklore: innocent folk from the Midwest or the West, whether politicians, bankers, big businessmen or whatever, resisted the mercenary Easterners.It's the price of this country's rise, it's a memory, and innocent Americans are destroyed.Europe kept the royal family, and the American idea always came from self-made entrepreneurs in the Midlands: Lincoln, Twain, Weir.Rogers.

In an age without heroes, that's what Buffett's followers are looking for in Omaha. Jack.Neufeld wrote Robert.Kennedy, said that Buffett is not a hero, but a hope; not a myth, but a person.Quite odd, albeit resourceful.When he was in Paris, his only experience was that he had no interest in sightseeing and that the food in Omaha was delicious.He has a strong ability to think independently and work independently. He devotes himself to his work and keeps his ears shut. However, these personal characteristics also caused a lot of trouble. Once, Buffett was visiting Catherine on Martha's Vineyard.When Graham, a friend marveled at the beauty of the sunset, but Buffett said he didn't notice it, as if he had to focus on the sunset; even in the vacation apartment in front of the beach in California, Buffett worked for weeks on end and never went to the beach .

Like other geniuses, Buffett has paid a price.Growing up in an overly restrictive family, Buffett lived in an emotionally closed atmosphere, and many people who worked with him, even decades later, knew that he was a very introverted person, even his children It was also rare to see their father with a certain expression, relaxing his stern face. Although Buffett is a moderator or preacher, he is essentially an introvert.peter.Lynch (a genius at investment funds), who visited Buffett in the 80s, was struck by the tranquility of Buffett's premises.Buffett's files, neatly arranged in alphabetical order, look as though they belong to the archives of the last century.Like Lynch, he had no army of traders, no electronic screens, no price charts, no computers, just newspapers from 1929 and an old clock, and those two things lay on the floor, witnessing history, witnessing them What was bought and what was sold.Lynch grieves as he weeds out losing stocks every few weeks while Buffett owns the same handful of stocks for years, as if revisiting the past.

Buffett has little pleasure in spending his vast fortune, except for a private jet that is slightly more modern. He doesn't collect art or fancy cars and has a penchant for hamburgers.He lives in a wooden frame house and works on the same street.His spending hobby is work, or as he calls it, lobbying.It is for this that he revealed the secrets of the transaction for which he will be remembered forever.