Warren Buffett quotes on money. How Warren Buffett got rich and his attitude towards money
Strong Conviction that he will be rich
Biographies of Warren Buffett such as Alice Schroeder’s ‘Snowball’ and Roger Lowenstein’s ‘Buffett: The Making of an American Capitalist’ often describes how this man who was at one time the richest man on the planet had a strong conviction that he will one day be rich even as a precocious young child. He would tell his classmates and neighbors that he would be rich before he turned thirty-five in a perfectly serious tone, with not a touch of arrogance or idealism – he just saw it as a foregone conclusion. He told Mary Falk that would make a million dollars before he turned thirty – a less audacious goal now, but very audacious back then.
The Fun of Making Money
One of Warren Buffett’s favorite books as a child was ‘One Thousand Ways to Make $1,000’. From peddling newspaper subscriptions to investing in pinball machines, Warren Buffett constantly thought about ways to make money. However, this desire to make a lot of money did not stem from a love of money itself. Warren Buffett was often cited as saying that he likes money not for money’s sake – rather, he likes the fun of making money and watching the marvel of money compounding – sometimes called the 8th wonder of the world.
Child of the Great Depression
Warren E. Buffett was born in 1930. As a child born during the Great Depression, Warren Buffett has strong memories of what it was like to grow up in such an era. He has a newspaper clipping of the 1929 stock market crash in plain view on his wall as a constant reminder to himself not to get caught up in the madness of crowds and the euphoria of the market.