【英语】巴菲特介绍(课堂PPT)
生活与风格的巴菲特方法论(ppt 39页)(英文)
Initial Rate of Return = EPS / share price
Test #3: Per Share Growth Rate
Use PV/FV Formula FV = PV (1 + r)T
Growth of Retained Earnings
Philosophies
Warren adopted Fisher and Munger’s philosophies
Superior economics working in their favor Selling at the “right” price
Warren did NOT adopt Graham’s philosophy
Selling at a “bargain” price
Warren’s Investing Beliefs
Consumer monopoly, with exceptional business economics, and shareholderoriented management
Bases investment decisions on 8 key questions
When to Sell
Graham’s Approach Sell when security reaches intrinsic
value
Warrens Approach Hold on to stock as long as possible
Possible only when investing in excellent business.
名人巴菲特简介.ppt.
a.
proclaim V. 正式宣布，宣告，声明
The president proclaimed a state of emergency. 总统宣布了紧急状态。
明确表示，成为标志，表明
His accent proclaimed him a Scot/ to be a Scot. 他的口音表明他是苏格兰人。 His manner proclaimed him a gentlemen. 他的风度显示出他是绅士
♪ 不要贪婪。1969年整个华尔街进入了投机的 疯狂阶段，面对连创新高的股市，巴菲特却 在手中股票涨到20%的时候就非常冷静地悉 数全抛。 ♪ 不要跟风。2000年，全世界股市出现了所谓 的网络概念，巴菲特却称自己不懂高科技， 没法投资。一年后全球出现了高科技网络股 股灾。 ♪ 不要投机。巴菲特常说的一句口头禅是：拥 有一只股票，期待它下个早晨就上涨是十分 愚蠢的。
只有当潮水退了，才知道谁在裸泳。 只有当狂热的投机导致泡沫破裂后，才知道哪些是公司是 真正的好公司，哪些是被炒作起来的空壳公司。巴菲特说： “海水退潮后才觉得自己是光着身子”告戒大家在投资中 不要当事后诸葛，不必要为小波动反复洗盘而后悔；无论 股市是上涨还是下跌,都要以“内在价值”为投资前提。
opp. Immodest
adv. modestly
2. He has vowed to pass only a small chunk of his fortune to his children, Susie, Howard and Peter. He wants them to have “enough to do anything but not to do nothing”.
b. grill n. 烤架，烤肉，烧烤架，餐馆
【英语】巴菲特英语介绍
He always wears expensive clothes, very like to eat hamburgers, French fries(炸薯条), and cherry(樱桃) Coke
Buffett also long time online playing bridge, he loved golf, handball and tennis sports, like playing the four string guitar.
D.Don't go on brand name; just wear those things in which u feel comfortable. (別走入名 牌的迷思,穿你覺得舒服的服飾即可.)
E.Don't waste your money on unnecessary things; just spend on them who really in need rather. (與其把錢花在不必要的事情上,倒不如 把錢花在真正需要的地方.)
➢ If a business does well, the stock eventually follows.
➢ It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
As a ordinary person
Although buffett is very rich, but he is still living in this house.
The house was bought with $31500 in 1958 .
巴菲特PPT
相關新聞
（1）捐獻與遺產 ）
全世界第二富豪華倫巴菲特在2006/6/25宣布， 宣布， 全世界第二富豪華倫巴菲特在 宣布 計畫將他約四百四十億美金的資產中的百分之八 計畫將他約四百四十億美金的資產中的百分之八 十五，捐出來做慈善事業。 十五，捐出來做慈善事業。這是美國有史以來最 大的慈善捐款。 年開始， 大的慈善捐款。自2006年開始，該基金會將在未 年開始 來的每年七月，收到全部款項的5%。 來的每年七月，收到全部款項的 。 華倫·巴菲特的子女將繼承他財產的部份 巴菲特的子女將繼承他財產的部份， 華倫 巴菲特的子女將繼承他財產的部份，比例 並不會太高。這與華倫·巴菲特過去一再表示 巴菲特過去一再表示， 並不會太高。這與華倫 巴菲特過去一再表示，不 的想法， 願意讓大量財富代代相傳的想法 是相當一致的。 願意讓大量財富代代相傳的想法，是相當一致的。 華倫·巴菲特曾表示：「我想給子女的 巴菲特曾表示：「我想給子女的， 華倫 巴菲特曾表示：「我想給子女的，是足以讓 他們能夠一展抱負， 他們能夠一展抱負，而不是多到讓他們最後一事 無成。 無成。」
生平简介
• • • • • • • • 神奇再现 1957年，巴菲特掌管的资金达到 万美元，但年末则升至 万美元。 万美元， 万美元。 年 巴菲特掌管的资金达到30万美元 但年末则升至50万美元 1962年，巴菲特合伙人公司的资本达到了 万美元， 年 巴菲特合伙人公司的资本达到了720万美元，其中有 万美元 其中有100万是属于 万是属于 巴菲特个人的。 巴菲特个人的。 1964年，巴菲特的个人财富达到 万美元， 年 巴菲特的个人财富达到400万美元，而此时他掌管的资金已高达 万美元 2200万美元。 万美元。 万美元 1967年10月 巴菲特掌管的资金达到6500万美元 1967年10月，巴菲特掌管的资金达到6500万美元。 万美元。 1968年 巴菲特公司的股票取得了它历史上最好的成绩：增长了46%， 1968年，巴菲特公司的股票取得了它历史上最好的成绩：增长了46%，而 琼斯指数才增长了9%。巴菲特掌管的资金上升至1亿零 亿零400万美元，其中属 万美元， 道·琼斯指数才增长了 。巴菲特掌管的资金上升至 亿零 琼斯指数才增长了 万美元 于巴菲特的有2500万美元。 万美元。 于巴菲特的有 万美元 1970年~1974年间，美国股市就像个泄了气的皮球，没有一丝生气，持续 年间， 年 年间 美国股市就像个泄了气的皮球，没有一丝生气， 的通货膨胀和低增长使美国经济进入了“滞涨”时期。然而， 的通货膨胀和低增长使美国经济进入了“滞涨”时期。然而，一度失落的巴菲特 却暗自欣喜异常，因为他看到了财源即将滚滚而来──他发现了太多的便宜股票。 ──他发现了太多的便宜股票 却暗自欣喜异常，因为他看到了财源即将滚滚而来──他发现了太多的便宜股票。 1973年开始，他偷偷地在股市上蚕食《波士顿环球》和《华盛顿邮报》， 年开始， 华盛顿邮报》 年开始 他偷偷地在股市上蚕食《波士顿环球》 他的介入使《华盛顿邮报》利润大增，每年平均增长35%。10年之后，巴菲特投 年之后， 他的介入使《华盛顿邮报》利润大增，每年平均增长 。 年之后 入的1000万美元升值为两个亿。 万美元升值为两个亿。 入的 万美元升值为两个亿 1980年，他用 亿美元、 美元的单价， 年 他用1.2亿美元、以每股 亿美元 以每股10.96美元的价，买进可口可乐 %的 美元的单价 买进可口可乐7 的 股份。 股份。到1985年，可口可乐改变了经营策略，开始抽回资金，投入饮料生产。其 年 可口可乐改变了经营策略，开始抽回资金，投入饮料生产。 股票单价已长至51.5美元，翻了 倍。至于赚了多少，其数目可以让全世界的投 美元， 股票单价已长至 美元 翻了5倍 至于赚了多少， 资家咋舌 .
名人巴菲特简介
for the £31bn fortune
Class: 094
Warren Buffett
沃伦·巴菲特
A video about Buffett
Warren Buffett
中文名：沃伦·巴菲特 出生日期：1930年8月30日 出生地：美国内布拉斯加州奥马哈市 毕业院校：沃顿商学院本科、哥伦比亚大学硕
巴菲特本身就是一个传奇任务，他是有史以来最伟
大的投资家，他依靠股票、外汇市场的投资，成为 全球顶尖的富豪。此外，巴菲特还非常热心公益事 业，更是被美国人称为“除了父亲外最值得尊敬的 男人。”
2006年，巴菲特在纽约公共图书馆签署捐款意向书， 正式决定向5个慈善基金会捐出其财富的85%，约合 375亿美元。这是美国和世界历史上最大一笔慈善捐 款。他还准备将捐款中的绝大部分（约300亿美元） 捐给比尔·盖茨及其妻子建立的“比尔与梅琳 达·盖茨基金会”。
♥ Don’t go on brand name; just wear those things in which you feel comfortable.别走入名牌的迷思， 穿你觉得舒服的服饰即可。
♥ Don’t waste your money on unnecessary things; just spend on them who really in need other. 与 其把钱花在不必要的事情上，倒不如把钱花在真正 需要的地方。
♪ 不要贪婪。1969年整个华尔街进入了投机的 疯狂阶段，面对连创新高的股市，巴菲特却 在手中股票涨到20%的时候就非常冷静地悉 数全抛。
♪ 不要跟风。2000年，全世界股市出现了所谓 的网络概念，巴菲特却称自己不懂高科技， 没法投资。一年后全球出现了高科技网络股 股灾。
巴菲特英文简介
巴菲特（Warren Buffett）英文简介Brief IntroductionWarren Edward Buffett , born in 1930, is an American investor , industrialist and philanthropist .Investors all over the world recognize the name of Warren Buffett. He is widely regarded as one of the most successful investors in the world, who is often called the "legendary investor, Warren Buffett".Buffett is the primary shareholder , chairman and CEO of Berkshire Hathaway . He is consistently ranked among the world's wealthiest people .He was ranked by Forbes as the world's richest person in 2008 and is the third richest person in the world as of 2011.Early LifeEven as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola , or weekly magazines.While still in high school, he carried out several successful money-making ideas: delivering newspapers, selling golf balls and stamps.Buffett and StockBuffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company.On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange . At the age of 11, he bought three shares of Cities Service Preferred for himself, and three for his sister.Education experienceBuffett entered college as a freshmen in 1947 at the Wharton Business School ofthe University of Pennsylvania and studied there for two years from 1947 to 1949. In the year 1950, when he entered his junior year, he transferred to the University of Nebraska–Lincoln where at the age of nineteen, he graduated with a degree of Bachelor of Science in Business Administration.After the completion of his undergraduate studies, Buffett enrolled at Columbia Business School after learning that Benjamin Graham (author of " The Intelligent Investor " – one of his favorite books on investing) and David Dodd , two well-known securities analysts , taught there.He received a MS in Economics from Columbia Business School in 1951. Buffett also attended the New York Institute of Finance .WealthIn 2008 he was ranked by Forbes as the richest person in the world with an estimated net worth of approximately US$62 billion .In 2009, after donating billions of dollars to charity, Buffett was ranked as the second richest man in the United States with a net worth of US$37 billion with only Bill Gates ranked higher than Buffett. His net worth is up to $47 billion in the past 12 months.PhilanthropyBuffett is also a notable philanthropist.In June 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation .He pledged about the equivalent of 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation, making it the largest charitable donation in history, and Buffett one of the leaders of philanthrocapitalism .Buffett’s WordsWhat counts for most people in investing is not how much they know, but rather how realistically they define what they don't know. An investor needs to do very few things right as long as he or she avoids big mistakes.就投资而言，人们应该注意的，不是他到底知道多少，而是应该注意自己到底有多少是不知道的，投资人不需要花太多时间去做对的事，只要他能够尽量避免去犯重大的错误。
《巴菲特介绍英语》PPT课件
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8
1941 11 years old
6 shares of Cities Service preferred stock [3 shares for himself, 3 for his sister, Doris]
•他跃身股海，购买了平生第一张股票。
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In his senior year of high school Buffett and a friend spent $25 to purchase a used pinball machine（弹球机）, which they placed in a barber shop. Within months, they owned three machines in different locations.
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As a Businessman
1962年，巴菲特与合伙人合开公司的资本达到了720 万美元，其中有100万是属于巴菲特个人的。
1968年，巴菲特公司的股票取得了它历史上最好的 成绩：增长了59%，而道·琼斯指数才增长了9%。巴 菲特掌管的资金上升至1亿零400万美元。(道·琼斯指 数,美国三大股指之一）
at a fair price than a fair company at a
wonderful pricepp.t课件
5
To make a strategic decision in five minutes. （五分钟决策）
No more than your real need .Don’t waste excessively. （不超过自己真正需要的，不过度奢侈浪费）
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巴菲特PPt
中国石油
投资5亿美元，，到2007年持有5 年，盈利35亿，增值8倍。
具体案例分析： 具体案例分析：可口可乐
巴菲特1988-1989年间分批买入可口可 乐公司股票2 335万股，投资10.23万。 1994年继续增持，总投资达到12.99亿 元。他在伯克希尔1991年报中高兴的 说：“三年前当我们大手笔买入可口可 乐股票的时候，伯克希尔公司的净值大 约是34亿美元，但是现在光是我们持有 可口可乐的股票市值就超过这个数字”。 可口可乐是巴菲特最成功的投资，比他 自己想像的还要成功。2003年底巴菲 特持有可口可乐的股票市值为101.50亿 美元，15年间增长了168%。仅仅在可 口可乐一只股票上的投资，就为巴菲特 赚取了88.51亿美元，这是使巴菲特成 为世界第二首富的重要因素之一。
作为50年历史的电视台。一样的垄断传媒行 业，搞收视率创造高的市场占有率，巴菲特 愿意把自己的女儿相嫁的优秀CEO掌舵，并 吸引了一批低价并购与低价回购的资本高手， 在一个高利润行业创造一个高盈利的企业， 1美元留存收益创造2美元市值增长，巨大的 无形资产创造出巨大的经济价值，巴菲特非 常少见的高价买入，在10年中盈利21亿美 元，投资增值6倍。
法宝二： 法宝二：不担心经济情况
投资人常以经济上的预测作为起点，然后根 据这个完美的假设选择股票。巴菲特认为这 个想法是愚蠢的。因为没有人具备预测经济 趋势的能力，同样地，对于股市的涨跌也没 有人可以准确预估。而且，如果你这次预测 准确，代表你选择的股票会在某一特定的环 境里获利，你将不可避免地会一再面临变动 与投机。
四大投资策略
法宝一
法宝二
法宝三
法宝四
法宝一： 法宝一：不理会股市每日涨跌
这是最具挑战性的第一法宝。股市是喜悦与 悲情交替发作的地方，也正是这样的行为创 造出层出不穷的投资机会，特别是当杰出企 业的股价跌到不合理的低价时。如果你相信 股票市场比你更聪明，你可以照股价指数的 引导来投资，但是如果你已经做好你的准备 作业，并且彻底了解你所投资的企业，那就 拒绝市场的诱惑吧。
巴菲特PPT课件
巴菲特持有迪士尼、麦当 劳及花旗银行等许多大公 司的股票。巴菲特投资于 这些经营稳健、讲究诚信、 分红回报高的企业，以最 大限度地确保投资的保值 和增值。
2011年其财富位居世界第三，净 资产500亿美元 沃伦·巴菲特2012年4月17日宣布 ，他被确诊患有早期前列腺癌。 2013年福布斯全球富豪排行榜第 四，净资产535亿美元
我始终知道我会富有。对此我不曾有过一丝 一刻的怀疑。
1957年，一帮亲朋凑了1 0 . 5 万 美元, 其中有他的一部分, 巴菲特 投资俱乐部就这样开业了。由于 善于与人沟通, 公司成立第一年就 集资5 0 万美元。 在不到一年的时间内, 他已拥有了 5 家合伙人公司。
伯克希尔·哈撒韦公司50年前，是一家濒临破 产的纺织厂，在沃伦·巴菲特收购后，公司净 资产从1964年的2288.7万美元，增长到2001 年底的1620亿美元；股价从每股7美元一度上 涨到近15万美元。 截止到2013年5月2日，公司股价超过了16万 美元，在仅有166万股的情况下其市值达到了 约2660亿美元。
1977年开始投资 大都会/美国广播 公司：投资3、45 亿美元，盈利21 亿美元
富国银行：投资4﹒6亿美元，盈利 30亿美元
美国运通：投资 14﹒7亿美元， 盈利70﹒76亿美 元
GEICO：政府 雇员保险公司， 投资0.45亿美元， 盈利70亿美元
巴菲特2003年5 亿美元投资中石 油，至2007年 卖出，赚了7倍 收益，换回35亿 美元收入。
• 1 9 6 3 年捷运公司由于运作出现麻烦, 股票迅速 从6 0 美元跌至35 美元, 传言不断。
• 巴菲特在调查中发现, 在饭店, 顾客继续用捷运卡 付帐; 在银行和旅行社, 人们还使用捷运的旅行支 票。
股神巴菲特英文介绍PPT课件
stamps.
Gates Foundation .
He pledged about the equivalent of 10
million Berkshire Hathaway Class B
shares to the Bill & Melinda Gates
Foundation, making it the largest
his father's own brokerage company. On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange . At the age of 11, he bought three shares of Cities Service Preferred for himself,
2019/10/22
2
Philanthropy
Buffett is also a notable philanthropist.
In June 2006, he announced a plan to
give away his fortune to charity, with
83% of it going to the Bill & Melinda
To do the best things what you think with your efforts
巴菲特英语简介
巴菲特英语简介沃伦巴菲特人物成就Personal wealthWarren Buffett in 20XX年to net assets of 50 billion US dollars ranked Forbes list third.20XX年Warren Buffett with net assets of $ 53.5 billion, ranked fourth in the Forbes list.March 1, 20XX年, Forbes announced the global richest list, Warren Buffett personal wealth of 60.8 billion US dollars ranked third.Into ChinaJanuary 24, 1996, Shanghai Securities News published in Chinas earliest introduction of Buffetts investment ideas of the article securities investment giant - Warren Bu Fei, Warren Bu Fei is stock Warren Buffett was The translation of the name. The author of the article is Professor Sun Di.Financial forumUS debt defaultUS debt default has become a global market to talk about the discoloration of the topic, but in the rating of Moodys, this is still a small probability event.The Treasury Department is unlikely to pay due Treasury bonds, said Moodys chief executive Raymond McDaniel. I hope the debt ceiling will increase on the 17th, but if not, I think the Treasury will continue to honor its commitments.Today, the United States democracy, the Republican Party war has been burned to the US debt, October 17, 20XX年, the United States will usher in the debt ceiling test.This (if the US debt default) is like a nuclear bomb explosion, the consequences are simply unimaginable. Buffett last week in the Fortune magazine interview said.EconomyBuffett said there is no doubt that the global economy is slowing, but the United States is slightly better than Europe.At the same time, Buffett also said the US housing market has been rotated, with the housing market recovery, housing-related companies will benefit, such as furniture and carpet industry. Buffett revealed that he took advantage of Wells Fargo shares fell, in the past week to buy more of the stock. In the past month, Wells Fargo shares fell more than 3%.As of June 30, 20XX年, Berkshire Hathaway reported that it held more than 411 million shares worth nearly $ 14 billion. Buffett said it was not enough and would keep buying.Buffett believes that the bank is still a very good industry, but thebank crisis before the credit crisis is not profitable. Buffett said he was interested in buying some of the companys prospects in 20XX年, when two potential $ 20 billion acquisitions were blown by price issues.Berkshire Hathaway has $ 40 billion in cash, but the price is unreasonable, and Berkshire Hathaway will not join the bid. He plans to target a $ 6 billion financial company, but he does not mention that it is a potential acquisition.Buffett reiterated his long-held view that the stock market is the best funding for investment, and expressed confidence in IBMs long-term prospects.In 20XX年, Berkshire Hathaway bought about $ 11 billion in IBM shares, and Buffett said it would also jiacang to that level. As for Berkshire Hathaway holding another big stock Procter Gamble, Buffett admitted that in recent years the profitability is really poor.But Buffett praised the chairman and chief executive officer Bob McDonald is an outstanding figure. MacDonalds leadership is popular today. Buffett said Berkshire Hathaway had sold some Procter Gamble stock.Buffett also expressed strong support for Federal Reserve Chairman Ben Bernankes third term, saying that Bernankes job was excellent, and that no one was better qualified for the Feds position. Buffett believes that if the president made an invitation, Bernanke will agree to re-election.However, Buffett said he was worried about the Feds expanding balance sheet. His intuition should be against the Feds QE3 economic stimulus plan. At the same time, Buffett believes that the United States is very likely in the short term out of the financial cliff risk.Taxation point of viewAugust 20XX年, the famous US investor Warren Buffett local time on the 15th that the richest Americans should pay more income tax, to improve the countrys financial situation to contribute.Buffett said in the New York Times entitled stop pet super rich article said that the poor and middle-class Americans in Afghanistan for the country to fight, and such a rich but still enjoy Special tax concessions. One of the main manifestations of the distribution of injustice is that the capital is too much in the distribution, and that the labor is too much in the distribution.Buffetts 15th in the New York Times article is thoughtful. The title of the article is stop spoiled the rich, the signs directly to the rich. Some people will say that Buffett is not deliberately to please President Obama, non-also, whether it is wealth or age, he does not need to please anyone and any power. This is Buffetts consistent style and thought. This passage is equally worthy of the richness of the Chinese people.沃伦巴菲特荣誉In the 20XX年Forbes list of wealth over Bill Gates, become theworlds richest man. In the eleventh charity fund-raising, Buffetts lunch auction to 2.63 million US dollars.In July 20XX年, Warren Buffett once again donated shares to five charities, according to the current market value equivalent to 1.93 billion US dollars. This is the third highest contribution since Buffett began to donate 99% of its assets in 20XX年.February 15, 20XX年, access to the symbol of the highest honor of the United States of America Medal of Freedom.March 10, 20XX年, 20XX年Forbes Global Regal list released in New York, Buffett to worth 50 billion ranked third.March 26, 20XX年, Barron Weekly online version of the 20XX年global 30 best CEO, ranked third.In December 20XX年, Buffett announced that his son Howard would play the role of heir in Berkshire Hathaway.April 20XX年, suffering from prostate disease, has not yet threatened life.20XX年Forbes wealth list to $ 53 billion ranked fourth.February 28, 20XX年, Hurun Global Rich List, Buffett ranked second.March 2, 20XX年, Forbes released 20XX年global richest list.Among them, the top three were Bill Gates, Carlos Slim, Warren Buffett, wealth were $ 79.2 billion, $ 77.1 billion and $ 72.7 billion.In mid-July 20XX年to the end of August, Buffetts BerkshireHathaway company in the investment stock market has at least a loss of $ 11.2 billion book. The equivalent of Berkshire Hathaway has shrunk by 10.3%.In 20XX年, the worlds richest ten couples ranked third, third: Warren Buffett and Astrid Mundes (Warren Buffett and Astrid Menks) net assets sum: $ 65 billion.20XX年, the United States local time on September 29, Forbes released the US tycoon 400 list shows that by virtue of $ 62 billion in wealth ranked second in the US Regal, which is Warren Buffett since 20XX 年has been ranked.October 20XX年, the US financial magazine Bloomberg Market announced the fifth global financial 50 most influential figures, Buffett ranked fifth.September 22, 20XX年, Bloomberg Global 50 most influential people list, Warren Buffett ranked ninth.In October 20XX年, Forbes magazine released the annual US 400 Rich List, Warren Buffett ranked third.March 20XX年, Forbes magazine released 20XX年global rich list, Warren Buffett ranked second.。
名人巴菲特简介.ppt.29页PPT
56、书不仅是生活，而且是现在、过 去和未 来文化 生活的 源泉。 ——库 法耶夫 57、生命不可能有两次，但许多人连一 次也不 善于度 过。— —吕凯 特 58、问渠哪得清如许，为有源头活水来 。—— 朱熹 59、我的努力求学没有得到别的好处， 只不过 是愈来 愈发觉 自己的 无知。 ——笛 卡儿
拉
60、生活的道路一旦选定，就要勇敢地 走到底 ，决不 回头。 ——左
名人巴菲特简介.ppt.
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6、黄金时代是在我们的前面，而不在 我们的 后面。
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7、心急吃不了ቤተ መጻሕፍቲ ባይዱ汤圆。
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8、你可以很有个性，但某些时候请收 敛。
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9、只为成功找方法，不为失败找借口 (蹩脚 的工人 总是说 工具不 好)。
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10、只要下定决心克服恐惧，便几乎 能克服 任何恐 惧。因 为，请 记住， 除了在 脑海中 ，恐惧 无处藏 身。-- 戴尔． 卡耐基 。
巴菲特英文介绍——可做英文名人介绍作业用
The makings of the world’s greatest investorWarren Edward Buffett was conceived approximately one month after the Wall Street crash in 1929, to be born in Omaha, Nebraska in the United States on 30 August, 1930. His early childhood was deeply affected by the crash and the great depression that follo wed. Buffett’s father, Howard, was a securities broker in Omaha, but he lost his job and his savings when the bank he worked for went bankrupt in 1931 –shortly before Warren’s first birthday. Howard responded by establishing his own stockbroking firm, but it was a tough way to earn a living in the early thirties. For a long while, as investors shunned the market, Buffett’s business was little more than a sign on a door. Buffett’s mother, Leila Stahl, had been brought up in West Point, Nebraska, with a family that owned and operated a local newspaper: the Cuming County Democrat. She moved to Omaha with Howard after they married in 1925.Buffett’s tough early years probably helped to forge his parsimonious nature and his desire to make certain that he would never have to struggle for money. Combined with his early exposure to the stockmarket and investing, through his father’s work, Buffett was light years ahead of most children at money management by the time he began school at the age of six.Around this time, Buffett is said to have embarked on the first ofmany money making schemes, buying six-packs of Coca-Colafor 25 cents and then selling the individual bottles for 5 centseach. According to his mother, during a severe illness at ageseven, Buffett lay in a hospital bed calculating his future richeson a sheet of paper, exclaiming to a nurse ‘I don’t have muchmoney now, but someday I will and I’ll have my picture in the paper’.Howard Buffett was a man of high principles and this led him into politics. Politics, in turn, led to the family being relocated to Washington DC in 1942, when Buffett was twelve, after his father won a seat in congress. Warren was very unhappy about being away from Omaha, but his time in the capital was significant in terms of his fledgling business career. A paper round began a very profitable lifelong association with The Washington Post. When his paper round was at its peak, Buffett was making US$40 a week from it. To this could be added US$20 a week earnings from his share of a partnership with his friend Don Danly, owning, operating and servicing pinball machines in barbershops. He filed a tax return in respect of his earnings and refused to let his father pay the taxes.In 1947, the seventeen-year-old Buffett went, somewhat reluctantly, to the Wharton School of Finance and Commerce at the University of Pennsylvania. He didn’t feel that he was learning very much from his university studies, however, and in 1949 he returned to Omaha, after his father lost an election, and he transferred to the University of Nebraska. In Omaha, he was rushing through his studies and at the same time adding to his funds with various jobs on the side, including one where he managed 50 paper boys for the Lincoln Journal.For all his business acumen and earning power, though, Buffett was still unsure about what to do with the money. Buffett’s stockmarket epiphany came in 1949 when he first read Benjamin Graham’s legendary book on investing, The Intelligent Investor, which had been published that year. This encouraged him to enrol at the University of Columbia to study under Graham.What Buffett learnt from Graham laid the foundations for his investing career, by ramming home the crucial distinction between price and value. After scoring the only A+ that Graham had awarded in 22 years of teaching, Buffett had hoped to be employed by Graham’s investment firm, Graham Newman, but he was rejected because the firm only employed Jews (since they were shunned by the traditional Wall Street investment houses). Buffett even offered his services for free, for the honour of working with the Master, but his approach was rebuffed.So Buffett returned to Omaha, where he took employment with his father’s firm of Buffett Falk. Asked whether the firm would be renamed Buffett & Son, he is said to have retorted: ‘No, Buffett & Father.’ At this time, Buffett courted Susan Thompson, whose parents were family friends, and the two were married in 1952. They raised three children, Howard, Susan and Peter.In 1954, Ben Graham relented and Buffett completed his education by working for two years, for US$12,000 a year, at Graham’s firm in New York, until Graham retired in 1956. The firm was wound up because, as one investor said at the tim e, ‘Graham Newman can’t continue because the only guy they have to run it is this kid named Warren Buffett. And who’d want to ride with him?’It turned out that plenty of people did want to ride with Buffett. When he returned to Omaha, his own investing partnership began with friends andfamily, but several notable clients of Graham Newman were directed his way, and word of mouth spread. Soon Buffett was managing many millions of dollars. His rule was that his partners were not to know anything about how their money was invested, but they would be given a simple annual statement of returns. In addition to this, and so that he wouldn’t be at the whim of fickle investors, he would allow partners to withdraw or add money on only one day each year.The results of the Buffett Partnership were spectacular. Over the 14 years from 1957 to 1970, he never lost money and always beat the stockmarket index, compounding his investments at an average of 28% and multiplying each original dollar 32 times (for more detail, see here). A notable investment success was American Express, whose stock price was hammered by a fraud in New Jersey but whose business franchise and intrinsic value, Buffett famously surmised by watching the tills at his favourite steakhouse, was largely undamaged.But by the end of the sixties, the markets were flying upwards to ever greater heights and Buffett was finding it increasingly hard to find suitable investment opportunities. In the end, he decided to liquidate the partnership in 1970 and, instead, he focused his investments on a small Massachusetts textile company named Berkshire Hathaway.Buffett had first invested in Berkshire in 1962 when its stock price was justUS$8, compared with net working capital per share of US$16.50. As further stock came on the market, he just kept buying more, and soon the Buffett Partnership was the company’s largest shareholder. Berkshire Hathaway was, however, in an absolute mess, with huge mills that cost more to maintain than they generated in cash. Buffett either needed to get out for a small profit, or he needed to engineer a change in management. In the end, he opted for the latter course and, in 1965, with the stock price at US$18, Buffett took control of the company.Buffett’s first step was to put a new man, Ken Chace, in charge of the textile operations. He explained that he needn’t bend over backwards to chase unprofitable sales, but that he would be judged according to cash return on invested capital. Buffett was about thirty years ahead of his time in using this measure, which achieved buzzword status in the 1990s (and was consequently badly abused), but it set the scene for his long tenure at the company: the Berkshire subsidiaries should only utilize cash at attractive rates of return, otherwise Buffett himself would take it and find other opportunities.And there were plenty of other opportunities. The Washington Post Company, Gillette and Coca-Cola are among the more famous listed companies in which Berkshire has made huge profits. But equally successful have been the company’s purchases of entire businesses, such as the Government Employees’ Insurance Company (GEICO) (a former favorite of Ben Graham’s), See’s Candies, the Buffalo News, Nebr aska Furniture Mart and Borsheim’s Jewelry. Whether purchased in full or in part, all of these businesses benefit from having a strong, defensible business franchise, enabling them to churn out increasing quantities of cash for investment in new opportunities. There is more about Buffett’s investing approach in this section, and on The Intelligent Investor website.In April 2005, the Berkshire Hathaway share price was edging towardsUS$100,000, giving an average annual return of about 26% per year since Buffett first took control. The market value of the company is now well over US$100 billion and its main challenge is finding big enough investment opportunities to make a difference to such a huge company—a fact that Buffett frequently moans about in his annual letters to shareholders. Having too much money, though, is a problem that few people get to complain about.Warren Buffett is one of the world's richest men, with an estimated personal wealth of approximately US$40 billion. He began his journey by cobbling together a few thousand dollars during his childhood: collecting golf balls, operating a pinball-machine business (with a mechanically minded friend), running paper rounds and doing any other odd jobs that came his way.By the time he took Ben Graham’s investing course at the University of Columbia at the age of 20, Buffett had accumulated $9,800 (see Note 1). Working with Ben Graham in New York, Buffett analysed stocks all day and he achieved the best returns of his career, compounding his money at 56% per year to reach a total of $140,000 when he returned to Omaha, Nebraska in 1956.Buffett then placed this money into his investing partnership, with various friends, family members and acquaintances. Between 1957 and 1970, he compounded his investments at an average rate of 28% per year. However,through this period, his own personal wealth benefited from a kicker effect thanks to performance bonuses from the partnership.When he liquidated the Buffett Partnership in 1970, he was able to convert his share into a stake of approximately one third in Berkshire Hathaway. Since then, Berkshire Hathaway’s net assets have compounded at an average rate of 23% per year (though the intrinsic value of Berkshire Hathaway, and its shares, have compounded at a slightly higher rate).Over the full 54 years, therefore, Buffet t’s investments have grown at an average rate of 27.6%. The graph below charts the progress of one of Buffett’s 1950 investment dollars up until 2004, compared to how one might have fared being invested in the overall US stockmarket (see Note 2).$1 travelling with Warren Buffett compared to $1 travellingwith the US StockmarketYou’ll see that we’ve done the chart on a logarithmic basis. It sounds a bit scary, but it’s the best way to do charts of things that compound over time, because it gives equal weight to the same proportional increases. But there’s another very good reason for doing it this way, and that is that if we didn’t, then the US stockmarket would not even register on the same chart as Buffett –quite literally, because the dollar invested with the US stockmarket dollar endsup at just less than a thousandth as much as the dollar invested with Warren Buffett. Don’t believe us? Well here’s the normal chart then.$1 travelling with Warren Buffett compared to $1 travellingwith the US StockmarketSee – we told you. Anyway, going back to the logarithmic chart, there are three main points to note.Firstly, notice how much higher up Warren Buffett’s line is. This reflect s the awesome power of compound interest – a little extra return each year (well quite a lot, in fact, in Buffett’s case) adds up to a colossal amount over the long term.Secondly, notice how much smoother Buffett’s line is. While the US stockmarket has bo unced about over the years, Buffett’s investing approach has produced more consistent returns.Finally, notice how Buffett’s line doesn’t go down at all. While the US stockmarket takes two steps forward and one step back, Buffett just keeps taking steps fo rward. Well, OK, that’s not entirely true. Buffett did blot his copy book, after 50 years of investing, with a loss of 6% in 2001 (compared to a loss of 12% by the S&P 500 index that year). But we figure that one small annual loss in 54 years is pretty reasonable going.One way or another then, Buffett’s approach beats the overall stockmarket by a country mile and it does it with less risk and many fewer setbacks.You can learn more about the approach by subscribing to The Intelligent Investor.Note 1.Buffett’s returns: The returns for Warren Buffett are comprised of three main sections. Firstly, there are Buffett’s own personal returns between 1950 and 1956, when he turned $9,800 into $140,000 [data taken from Davis, Buffett Takes Stock via Lowenstein, Buffett – The Making of An American Capitalist]. Secondly, there are the returns of the Buffett Partnership, between 1957 and 1969. Finally, there are the returns of Berkshire Hathaway since 1970.Note 2. US stockmarket returns: From 1965 to 2004, the returns of the US stockmarket are taken as the return of the S&P 500 Index, with dividends reinvested. From 1950 to 1964, they are taken as the return of the Dow Jones Industrial Average, with 5% added each year as an approximate adjustment for dividends.。
巴菲特英文介绍
He’s just like you and me, except for the £31bn fortunePROFILE: Warren BuffettWhen F Scott Fitzgerald observed that “the very rich are different from you and me”, the novelist was clearly not thinking of people like Warren Buffett. Proclaimed the world’s richest man last week, the American investment strategist eats at his local grill and drives to work from the modest home that he bought in unfashionable Omaha, Nebraska, in 1958, which is today valued at about £350,000.Such is the frugality of the 77-year-old “sage of Omaha”, whose wealth increased by £5 billion last year to £31 b illion, that when he married in 2006 he bought a discount ring from his own jewellery company. He has vowed to pass on only a small chunk of his fortune to his children, Susie, Howard and Peter. He wants them to have “enough to do anything but not to do nothing”.His advice has enriched more investors than anyone else in history, but Buffett pays himself a mere £50,000 a year and prefers such ordinary fare as steaks and hamburgers, washed down with Cherry Coke. Not for him the bright lights of New York, ev en though he owns a private jet, his one extravagance: “I have everything I need and am very comfortable right here at home in Omaha. I feel sorry for people who are consumed by possessions.”Known for his wry homilies, Buffett has bet his house in jest against that of his friend and bridge partner Bill Gates, the Microsoft co-founder now relegated from first to third place in the zillionaire stakes, according to Forbes magazine. They used to meet for games at a Holiday Inn near Buffett’s home, but of late they play online - Buffett’s only concession to newfangled technology - under the user names“T-bone” (Buffett) and “Challenger X”.Buffett’s ranking may seem puzzling, given that in 2006 he announced he was donating his fortune to charity, with about £15 billion going to the Bill and Melinda Gates Foundation, dedicated to combating Aids, tuberculosis and malaria. The donations are in instalments - the latest for £880m - but Buffett just gets richer.This act of philanthropy was an indirect consequence o f Buffett’s unorthodox role as a husband and lover. In 1952 he married Susan Thompson, a former cabaret singer who, after raising their children, announced in 1977 that she was leaving Omaha to pursue her singing career in San Francisco. They remained married and on good terms, holidaying together and helping charitable groups.Buffett had always expected that Susan would inherit his wealth and pass it to charitable causes, he explained later: “When we got married, I told Susie I was going to be rich . . . [not] because of any special virtues of mine, but simply because I was wired at birth to allocate capital.” Susie was less than thrilled by this prospect: “But we were totally in sync about what to do with it - and that was to give it back to society.”In 1978 Susan introduced her husband to Astrid Menks, a Latvian working as a waitress in a restaurant, who soon moved in with him. Buffett sent out Christmas cards signed “Warren, Susie and Astrid”.Two years after Susan died from a stroke in 2004, Buffett married Astrid, then 60. “Astrid loves him and takes care of him,” his daughter Susie said. “If Warren didn’t have a cent she’d still be with him.”Just before their wedding, he revealed his plan to release his ever-growing riches to charitable causes for decades to come.Buffett likes to make wealth-generation sound simple. He once summed it up thus: “Rule No 1: never lose money. Rule No 2: never forget rule No 1.” His prescience is world-renowned: he refused to buy stocks in the booming 1960s, only to strike gold in the plummeting 1970s. He walked away from the dotcom boom in the 1990s, sticking with boring blue-chips such as Gillette, Coca-Cola and American Express. He always came up smelling of greenbacks.He is one of the most respected voices in financial America, embodying Midwest virtues of probity, modesty and common sense, so his recent warning that America was in recession stirred panic. His utterances attract 20,000 acolytes to the annual meeting of his business empire, dubbed the “Woodstock o f capitalism”.A journalist who attended recalled: “He was amiable, chatty, and spoke for four hours off the top of his head. He is what he seems: a modest and ferociously bright man to whom money is an intellectual pursuit, not something to spend.”Buffett is a Democrat who has funded the pro-choice group Planned Parenthood and has raised money for both Hillary Clinton and Barack Obama, rivals for the party’s presidential nomination, without endorsing either. He would be happy whichever won, he said. Yet he remains a close friend of Arnold Schwarzenegger, California’s Republican governor, whom he served as an economic adviser in 2003.If anything gives him sleepless nights, it is the certainty that a nuclear holocaust will wipe out the planet. “It is the ultimate depressing thing. It will happen, it’s inevitable,” he said, reasoning that as the number of “bad guys” increases, so do the odds of one obtaining an atom bomb.He was born in 1930 in a house in Omaha on the banks of the Missouri River, the son of Leila and Howard, a Republican stockbroker elected to Congress on a platform described as “to the right of God”. His grandfather ran the family’s grocery store dating from 1869, where Buffett’s fortune began.“My grandfather would sell me Wrigley’s che wing gum and I would go door to door around my neighbourhood selling it,” he recalled. “He also sold me a six-pack of Coca-Cola for a quarter [25c] and I would sell it for a nickel [5c] each, so I made a small profit.” He supplemented his earnings by selli ng lost golf balls. When the family moved to Washington, the 12-year-old Warren took on five paper rounds, using his access to customers to sell them magazine subscriptions.By the following year he was making £80 a month, an incredible sum in the 1940s. Through shrewd investment, at the age of 14 he saved the £400 needed to buy 40 acres of local farmland, which he rented out. His first dabble in the stock market earned him a $2 profit before the shares shot up, teaching him that patience pays off.After a first degree at the University of Nebraska Lincoln, he went to Columbia Business School in New York, where he fell under the spell of Benjamin Graham, an investment guru who awarded Buffett the only A+ grade he ever bestowed.Buffett worked for his mentor after graduation but outgrew him, according to Roger Lowenstein, Buffett’s biographer: “Graham would amaze the staff with his ability to scan a page with columns of figures and pick out an error. But Buffett was faster at it.”His strategy was to search for “cigar butt” companies, no longer of interest to the market and thus undervalued, but which still had “a few puffs” left in them.In 1962 he spotted a run-down Massachusetts textile firm, Berkshire Hathaway, which he bought and transformed into an insurance company. His empire now extends to sweet shops and Fruit of the Loom clothing. He has shares in The Washington Post, Tesco and a controlling stake in CE Electric, which supplies energy to English homes.He denounced th e “outright crookedness” of Enron, the collapsed American conglomerate, and the dubious methods used by corporations to calculate pension charges and stock option costs: “CEOs will be respected and believed . . . only when they deserve to be. They should quit talking about some bad apples and reflect instead on their own behaviour.”This rigour extends to his family dealings, notably his past stinginess with his children. On one occasion his daughter Susie needed $20 to get her car out of an airport car park, but Buffett made her write a cheque to him first. He doesn’t spare himself either: “Only my clothes are more expensive now, but they look cheap when I put them on.”Buffett has critics, drawing flak over his profits from PetroChina, the oil company with links to Sudan’s government. His recent offer to stand behind America’s municipal bond payments, issued by local councils, was seen as a self-serving gesture – only one such bond on average has gone into default over the past 40 years.To most American s, however, Buffett is a national treasure. But as he put it: “You only learn who has been swimming naked when the tide goes out.”。
巴菲特英语介绍
Investors all over the world recognize the name of Warren Buffett. He is widely regarded as one of the most successful investors in the world, who is often called the “legendary（传奇） investor, Warren Buffett”
D.Don't go on brand name; just wear those things in which u feel comfortable. (別走入名 牌的迷思,穿你覺得舒服的服飾即可.) E.Don't waste your money on unnecessary things; just spend on them who really in need rather. (與其把錢花在不必要的事情上,倒不如 把錢花在真正需要的地方.)
As a ordinary person
Although buffett is very rich, but he is still living in this house. The house was bought with $31500 in 1958 . Buffett live in this house more than half a century
In 1956 ,he come back his hometown, he persuaded some friends and relatives jointly invested set up " Buffett companies “ in 1962,he combine with several companies that open with his partner made it be a big companies
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Born
August 30, 1930 ) (age 77) Omaha, Nebraska, United States
Occupation
Chairman & CEO, Berkshire Hathaway
Salary
US$100,000
Net worth ▲US $62.0 billion (2008)
➢ I always knew I was going to be rich. I don't think I ever doubted it for a minute.
➢ If a business does well, the stock eventually follows.
➢ It's far better to buy a wonderful company
慈善家
18
2006 RANK
1 2
NAME
BACKGROU ND
2002-2005 GIVEN OR PLEDGED, MILLIONS
GIVING AS A % OF NET WORTH
ESTIMATED LIFETIME GIVING, MILLIONS
Warren
Berkshire
40,612
9
A➢sTaooBkuosvineerstsemxtainle firm
Berkshire Hathaway in 1965
Owned 29% of the Berkshire Hathaway stock
Gaining Control of Berkshire Hathaway
Named himself Director on May 10, 1965, after accumulating 49% of the common stock
1930 Origin: the United
States Omaha Company: Berkshire Posts: Chairman of
the board of directors Education: graduated
from the Columbia University
4
Warren Buffett !
Spouse
Susan Buffett (1952–2004), Astrid Menks (2006-)
Children
Susie Buffett,
Howard Graham Buffett,
Peter Buffett
5
➢ Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
at a fair price than a fair company at a
wonderful price.
6
7
As a Businessman
8
1941 11 years old
6 shares of Cities Service preferred stock [3 shares for himself, 3 for his sister, Doris]
17
In 2006, Buffett donate some $37 billion to five charitable foundations. The largest recipient (receiving some $31 billion) will be The Bill & Melinda Gates Foundation.
10
As a Businessman
1965 : $7.60 per share.
1966: $14.86 per share 2006: Berkshire shares pass $100,000
11
12
As an ordinary person
The Buffett’s Buffett’s hobbies
89
Buffett
Hathaway
CEO
Bill and
Microsoft co- 3,350
53
Melinda
founder
Gates
40,730 27,976
19
Thanks
20
(except investment)
13
14
15
ห้องสมุดไป่ตู้
HOBBIES
As a philanthropist
➢Set aside $2 for each Berkshire share to charities ➢Announced to give away part of his fortune to charity In June 2006
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✓ an American businessman
✓ a philanthropist
✓ a successful investor
✓ the richest guy in the world
✓“ORACLE OF OMAHA”
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Warren Buffett Birth date: August 30,