Warren Buffett

Warren Buffett is an American investor and philanthropist who chairs Berkshire Hathaway. He is known for building a long-term investment approach around businesses he considers understandable and attractively priced.

Value investing: An investment approach that seeks securities priced below estimates of their underlying worth. Buffett’s method grew from value investing, adapted toward buying durable businesses at sensible prices.
Benjamin Graham: An economist and investor who developed influential methods of securities analysis and value investing. Graham taught Buffett to analyze securities through financial evidence and a margin of safety.
Susan Buffett: An American philanthropist and singer who was Warren Buffett’s first wife. She shared Buffett’s life and philanthropic commitments until her death in 2004.
Berkshire Hathaway annual meeting: Berkshire Hathaway’s yearly shareholder gathering in Omaha, Nebraska. Buffett uses the meeting to explain Berkshire’s results and answer shareholder questions.
Philip Fisher: An American investor and author known for growth investing and qualitative research into companies. Fisher’s emphasis on exceptional growth businesses complements and contrasts with Buffett’s Graham-derived value discipline.
Intrinsic value: The estimated present value of the cash a business can generate over time. Buffett compares a company’s estimated worth with its market price before investing.
The Intelligent Investor: Benjamin Graham’s 1949 book explaining principles of disciplined, long-term investing. Buffett has cited this book as a formative guide to his investment philosophy.
Howard Buffett: An American farmer, philanthropist, and politician, and one of Warren Buffett’s sons. He is designated to help oversee the distribution of Buffett’s charitable contributions after his death.
Coca-Cola: An American beverage company whose best-known product is a globally distributed cola. Berkshire’s long-held Coca-Cola stake exemplifies Buffett’s preference for durable brands.
John Maynard Keynes: A British economist who also managed investments and developed a concentrated, long-term portfolio approach. Keynes offers an earlier example of concentrated investing that differs from Buffett’s business-centered framework.

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