Warren Buffett is known as the "Oracle of Omaha".,and is considered the most successful investor in the world. Buffett is now the seventh richest man in the world, with a net worth of $142 billion.

He owns Berkshire Hathaway, a multinational conglomerate with more than 60 companies headquartered in Omaha, United States.

Buffett is the son of a U.S. congressman, who purchased stock at age 11 and first filed taxes at age 14.

Warren Buffet — A High priest of the investment world

Warren Buffet is rightly considered the philosopher and high priest of the modern investment world. In 1962, Buffet bought Berkshire Hathaway shares and became its majority shareholder by 1965.

In the following years, he expanded the company to insurance and other investments, making Berkshire Hathway a $705 billion market cap company.

Investing is like Planting a Tree

Warren Buffet once said,

"Someone's sitting in the shade today because someone planted a tree a long time ago."

This quote by Buffet reveals the secret of becoming a successful investor. Starting early and being patient helps money grow.

One who wants to succeed should think about the remarkable trajectory of things. So, the best time to start is today. As a tree takes time to grow, so will investment.

Pick Undervalued Stocks

Buffet advises us to prefer undervalued stocks with solid fundamentals.  Research also shows that high-priced stocks attract lower returns over time than undervalued ones.

Good Temperament, not Intellect, makes you a Disciplined Investor.

Buffet declares patience as a must-have quality of an investor; he says,

"The most important quality for an investor is temperament, not intellect."

Buffet believes that human psychological nerves are responsible for investment failures. According to him, humans are irrational and emotional and are often tempted to trade when the market is working against them.

Buffet believes that a well-tempered investor who learns not to watch the market ends up reaping the most rewards.

Study, study, study

Warren Buffet emphasizes having the required knowledge to become a savvy investor. The following quote shows the importance of studying and homework to avoid risk. He says,

"Risk comes from not knowing what you are doing."

The legendary investor opines that the investors who see some success and don't do research are vulnerable to making mistakes upon a positive feedback loop.

Hence, the all-time investor advises investing in businesses you can comprehend. Likewise, a study by Morningstar shows that knowing about companies is crucial in improving investor performance.

Buffet and philanthropy

Buffet, a nonagenarian, is a great philanthropist. He donated most of his charity to the Bill & Melinda Gates Foundation and his children's charities. He gave away $41 billion from 2006 to 2020.

In 2010, the CEO of Berkshire, Bill & Melinda Gates, launched the Giving Pledge, a campaign that encourages wealthy people to contribute their wealth to philanthropic causes.

The latest news came on June 15, 2022, revealing that Buffet has donated roughly $4 billion of Berkshire Hathway's stock to charitable foundations.

Conclusion

In short, Warren Buffet is a guiding star for investors, people in business, and philanthropists worldwide. His business acumen and charity work make him not only a great investor but also a great human being. According to one estimate, he has donated a record $48 billion in his lifetime.