This is the man that every investor attempts to be. We all secretly look up to him. Whether you’re his rival or protege, he is the benchmark to meet. Yesterday, he released a letter to shareholders of his company Berkshire Hathaway. He disclosed that he has Stage 1 prostate cancer and will begin treatments in July. The doctors have stated that they are not concerned about the delay in treatments. They feel that since it was discovered early, Mr. Warren Buffett should be cancer free very shortly.
Warren Buffett is a completely self made billionaire. In fact, he is one of the five richest men in the world. Even with such stature, he still lives in Omaha Nebraska. Buffett has recently made it his priority to raise money for philanthropy. He has charged thousands of multi-millionaires to give half of their wealth to charitable causes.
The reason Wall Street looks to this man is his investing acumen. Warren Buffett has been able to make phenomenal investments through his years. Most recently, he said the best investment opportunity in the marketplace right now is the housing market. Since that call, homebuilder Pulte Homes (PHM) has moved from $6.85 a share to $8.50 a share in just a few short months.
While Wall Street looks to Buffett as the benchmark, we often forget that his benchmark is not just his return on investment. Mr. Buffett has been giving millions of dollars every year to charitable causes. On Wall Street, we believe in making and keeping as much money as possible. We believe in obtaining as many material objects as possible. We forget the complete package that Mr. Buffett has been over the past several decades. The government has a hard enough time getting taxes out of us, much less a noble cause that doesn’t result in a tax deduction.