Warren E. Buffett's investment philosophy revolves around value investing, uniquely framed as purchasing wonderful businesses at fair prices. This strategy has been pivotal over his 60-year stewardship of Berkshire Hathaway, transforming the company from a failing textile manufacturer into a $1.1 trillion conglomerate. His success has reshaped Wall Street investing, fostering a generation of financiers and promoting long-term investments. Buffett's wealth, estimated at $168 billion, alongside his persona, embodies American capitalism, with far-reaching influence evident during the 2008 financial crisis and reflected in his recent announcement of stepping down as Berkshire Hathaway's CEO, met with applause from shareholders.
Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices, he once wrote to shareholders of Berkshire Hathaway.
Over the 60 years that Mr. Buffett has controlled Berkshire Hathaway, he used value investing to turn a failing textile manufacturer into a $1.1 trillion conglomerate.
His announcement was greeted with surprise and then minutes of thundering applause from shareholders many of whom became millionaires by owning Berkshire stock.
Mr. Buffett amassed a Midas-like personal fortune, valued at about $168 billion, and along the way became the avuncular avatar of American-style capitalism.
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