In the previous story, we learned that when Warren Buffett was just 12 years old, he made money by investing in stocks and had other side jobs like delivering newspapers and selling magazines. He made more money than most adults by the time he was 13.
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Woodrow Wilson High School
Now, let's talk about his high school years. In 1945, Buffett started attending Woodrow Wilson High School. He met an intelligent guy named Don Danley, who became his close friend. They both liked playing an old pinball machine. One day, they had an idea: they thought the pinball machine would be popular in a barbershop. So they found a barbershop owner and agreed to share the money it made, 50-50.
Their idea worked, and the barbershop business did well. But Buffett stayed down-to-earth and focused. He looked for suitable locations to open more barbershops, far from problems like criminals and gangs.
They kept growing their business by putting more pinball machines in barbershops. Danley fixed old pachinko machines and placed them in other barbershops while Buffett managed the money.
When the barbershops asked about the machines, Buffett would say, "I'll talk to Mr. Wilson," which was a secret name for him and Danley. Their business made $50 a week.
Danley thought highly of Buffett. He wasn't great at physical work, but he was amazing at doing math in his head. This skill would become crucial for his future investments.
Buffett's success came from keeping things simple. He made investments that were easy to understand and avoided complicated stuff. He could see the best way to make money while others struggled.
Throughout his life, he always looked for good deals, bought stocks in good companies when they were cheap and held onto them until their prices doubled. He didn't need fancy computers or tools; he did it all in his head.
Buffett was different from other investors on Wall Street. He didn't look super rich; he seemed like a regular guy in his hometown, Omaha. He didn't have a big team or fancy data analysis tools. He just read a lot of financial reports and picked the cheap and sound investments.
Buffett's high school experience as an entrepreneur laid the foundation for his future success in investments. His friend Danley also played a significant role in his success. Today, his investment decisions affect many people's lives.
We'll learn more about Buffett's high school story in the following article, showing how he became the famous investor we know today.
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