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Education: University of Nebraska Lincoln,
Bachelor of Arts / Science
Columbia University, Master of Science
Last year America's most beloved investor was
the world's richest man. This year he has to
settle for second place after losing $25 billion
in 12 months. Shares of Berkshire Hathaway down
45% since last March. Injected billions of
dollars into Goldman Sachs, GE in exchange for
preferred stock last fall; propped up insurance
firm Swiss Re in February with $2.6 billion
infusion. Admits he made some "dumb" investment
mistakes in 2008. Upbeat about America's future:
"Our economic system has worked extraordinarily
well over time. It has unleashed human potential
as no other system has, and it will continue to
do so." Scoffs at Wall Street's over-reliance on
"history-based" models: "If merely looking up
past financial data would tell you what the
future holds, the Forbes 400 would consist of
librarians." Son of Nebraska politician
delivered newspapers as a boy. Filed first tax
return at age 13, claiming $35 deduction for
bicycle. Studied under value investing guru
Benjamin Graham at Columbia. Took over textile
firm Berkshire Hathaway 1965. Today holding
company invested in insurance (Geico, General
Re), jewelry (Borsheim's), utilities
(MidAmerican Energy), food (Dairy Queen, See's
Candies). Also has noncontrolling stakes in
Anheuser-Busch, Coca-Cola, Wells Fargo.
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