MousePotatoPower

You can’t argue that Warren Buffet knows what he’s doing.  As of February 2008, Forbes ranked Buffet the richest person in the world, surpassing Bill Gates and Carlos Slim Helu.

Even though he is worth over $60 billion dollars, he only takes a salary of $100,000, lives in the same house that he bought in 1958, drives his own car, does not carry a cell phone, and intends to donate the majority of his fortune to charity when he dies.

Buffet regularly invites business students to visit his companies and gives them the opportunity to ask him questions, and ends the intensive day of learning with lunch at one of his favorite restaurants.

CNN has a great article about Warren Buffet.  My favorite question/answer out of the article is:

What advice would you give to someone who is not a professional investor? Where should they put their money?

Well, if they’re not going to be an active investor - and very few should try to do that - then they should just stay with index funds. Any low-cost index fund. And they should buy it over time. They’re not going to be able to pick the right price and the right time. What they want to do is avoid the wrong price and wrong stock. You just make sure you own a piece of American business, and you don’t buy all at one time.

Great advice from the Oracle of Omaha.