Warren Buffett is the world's third richest man with an estimated fortune of over $52bn.
But unlike the other billionaires that feature in Forbes' list of the 10 richest people in the world, Buffett doesn't have a retail empire, an oil well or a brain for computing to show for it – simply a lot of share certificates.
The 76-year-old made his money through identifying companies that he believed were worth more than their market value, investing in them and holding that investment for the long-term. And it's certainly paid off.
Class A shares in his company Berkshire Hathaway were $15 when he first took over in 1965 – today they are valued at $109,800 per share.
It sounds remarkably simple, but given the ups and downs of the stock market, it takes a high level of discipline, nerve and conviction in your decisions. Although Buffett has never written a book detailing his investment style, much can be gleaned from the annual letter he sends to Berkshire shareholders.
He doesn't view the purchase of shares in a company as buying a stake in that business, but believes that the investor should feel that they are actually buying that business outright. Because of that he looks for quality management, a durable competitive edge and low capital expenditure.
Companies tend to have a strong brand name – Coca Cola, McDonalds and Gillette feature in his holdings – and a good history of solid earnings growth. We run through how Buffett invests his money
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