Quote from: The Pharmacist on August 30, 2018, 05:12:44 PM

Quote from: Bonpay on August 30, 2018, 07:50:45 AM

Buffet said that he was interested in investments because of reading The Intelligent Investor by Benjamin Graham.

That's the first thing I thought, too.

I would advise OP to read his biography, and there are at least two books that I know of, The Snowball and Buffett. I've read both, and they're pretty good.

The main thing with Buffett is that he is absolutely obsessed with making money and reading annual reports. He is single-minded in his drive to find undervalued stocks and he does it very well. Basically, he's a value investor who uses fundamental analysis to buy cheap stocks (or private businesses). What sets him apart from everyone else is that he does his homework, doesn't often sell stocks, and doesn't let emotion guide his trading. There's a lot of stuff I could write, but the authors of his biographies lay it all out pretty well.

An under emphasized point is that Warren Buffet is a net buyer of stocks. He doesn't sell very often compared to how often he buys. The stock market has a tendency to go up over time, and has created enormous wealth. Warren Buffet may be the most recognizable beneficiary of this effect, but he isn't near the only one. Buffet's attributes are that he's a smart value investor and is rather well-known for removing emotions from the investing equation. On top of that, you need patience. The type of wealth he has built has taken decades, and it has compounded on itself. Over very long periods of time, he has allowed the market to realize and prove the investment theses he's put into practice, and that's what has created the wealth you see today.