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Why Warren Buffett invested in Goldman Sachs

September 26, 2008

He is said to have no cellphone or computer at his desk. He drives his own car and has no security guard with him.

A staunch follower of value investing, he started with an initial fund of $105,000 in 1956, the rest is history. Over the next five decades, Buffett's wealth rose to over $50 billion.

But he is not the one to flaunt his riches, simple and down-to earth, Buffett continues to live in the same house in Omaha that he bought in 1958 for $31,500. He says that he has everything he needs in that house. His house does not have a wall or a fence.

Check out Buffett's sure-shot money-minting money mantras ahead. . .

Image: US President George W Bush at the White House in Washington, after addressing the nation on the financial crisis, on Wednesday. Bush piled pressure on wary lawmakers, including skeptical members of his own Republican Party, to adopt his embattled $700-billion Wall Street rescue plan. | Photograph: Nicholas Kamm/AFP/Getty Images

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