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The Master of Investment: Warren Buffett

For someone who is such an extraordinarily successful investor, Warren Buffett comes off as a pretty ordinary guy. Born and bred in Omaha, Nebraska, for more than 40 years Buffett has lived in the same gray stucco house on Farnam Street that he bought for $31,500. He wears rumpled, nondescript suits, drives his own car, drinks Cherry Coke, and is more likely to be found in a Dairy Queen than a four-star restaurant.

But the 68-year-old Omaha native has led an extraordinary life. Looking back on his childhood, one can see the budding of a savvy businessman. Warren Edward Buffett was born on August 30, 1930, the middle child of three. His father, Howard Buffett, came from a family of grocers but himself became a stockbroker and later a U. S. congressman.

Even as a young child, Buffett was pretty serious about making money. He used to go door-to-door and sell soda pop. He and a friend used math to develop a system for picking winners in horseracing and started selling theirStable-Boy Selectionstip sheets until they were shut down for not having a license. Later, he also worked at his grandfathers grocery store. At the ripe age of 11, Buffett bought his first stock.

When his family moved to Washington, D. C. , Buffett became a paperboy for The Washington Post and its rival the Times-Herald. Buffett ran his five paper routes like an assembly line and even added magazines to round out his product offerings. While still in school, he was making $175 a month, a full-time wage for many young men.