Warren Buffett was born in Omaha , Nebraska . At an early age Buffett was known to have an extremely good sense of the business world. As a youngster, he read every book on business, the stock market, and economics, in the whole Omaha public library. At age 11, he began working at his father’s brokerage firm where he was able to have for the first time in his life direct access to financial markets. That year, he bought his first stock. He bought Cities Services for roughly 38 dollars a share. The stock moved upwards about 5% and he sold for a quick profit. At that time, Buffett learned his first real lesson in the stock market which was to hold onto a company until it reached its intrinsic value and later in life would adopt the strategy to buy and never sell which he frequently employs today. This has been commonly now referred to as the “Buy and Hold” method.

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