The Planet’s Most Successful Stock Market Investor, Warren Buffett, declares immigrants a blessing

April 3, 2017

 

Like most people, I have heard of reports of immigrants, such as Steve Jobs from Syria, as examples of how important immigrants are to America. But I never heard what Warren Buffett’s said of Albert Einstein, who immigrated to America, and Hitler.

But who is Warren Buffett? Seems like all we know is that he is often called the greatest stock market investor of all times, who backed Hillary in the 2016 elections.

Warren Edward Buffett (/ˈbʌfᵻt/; born August 30, 1930)[2] is an American business magnate, investor, and philanthropist. He is considered by some to be one of the most successful investors in the world,[3][4] and as of March 2017 is the second wealthiest person in the United States with a total net worth of $78.7 billion.[5]

Born in Omaha, Buffett developed an interest in business and investing in his youth, eventually entering the Wharton School of the University of Pennsylvania in 1947 before transferring and graduating from University of Nebraska–Lincoln. After graduating at 19, Buffett enrolled at Columbia Business School of Columbia University, learning and eventually creating his investment philosophy around a concept pioneered by Benjamin Grahamvalue investing. He attended New York Institute of Finance to specialize his economics background and soon after began various business partnerships, including one with Graham. After meeting Charlie Munger, Buffett created the Buffett Partnership. His firm would eventually acquire a textile manufacturing firm called Berkshire Hathaway and assume its name to create a diversified holding company.

Buffett has been the chairman and largest shareholder of Berkshire Hathaway since 1970,[6] and his business exploits have had him referred to as the “Wizard”, “Oracle” or “Sage” of Omaha by global media outlets.[7][8] He is noted for his adherence to value investing and for his personal frugality despite his immense wealth.[9]

Buffett is a notable philanthropist, having pledged to give away 99 percent[10] of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation

Warren Buffett, declares immigrants a blessing (source)

Warren Buffett made it clear he’s not in President Donald Trump’s camp when it comes to immigration

“This country has been blessed by immigrants,” he told a crowd of students at Columbia University on Friday in New York. “You can take them from any country you want, and they’ve come here and they found something that unleashed the potential that the place that they left did not, and we’re the product of it.”

That answer came in response to a student’s question about how Buffett and Microsoft co-founder Bill Gates, who also appeared at the event, would advise the new administration on immigration and health-care policy.

“I always say to people who are anti-immigration, let’s put it in retroactively. Everybody leaves,” Buffett said, eliciting laughter from the crowd.

Trump has moved quickly to fulfil campaign pledges to voters who feel the country is being overwhelmed by immigrants taking American jobs. This week, he signed directives that would set in motion construction of a border wall with Mexico and toughen immigration enforcement within the US. The president also signed an executive action Friday to establish vetting procedures for some people seeking to enter the US, saying the measure would prevent terrorists from being admitted.

Trump signs plan to temporarily shut US door to most refugees

Buffett, the 86-year-old chief executive officer of Berkshire Hathaway, backed Hillary Clinton in the presidential election, stumping for her in Omaha, Nebraska, and headlining fund raisers. The billionaire frequently clashed with Trump and scolded him for not releasing income-tax returns, as major party presidential candidates have done for roughly four decades.

Top of Form

Bottom of Form

Since the election, Buffett has generally struck a more conciliatory tone toward Trump and called for unity. In an interview with CNN in November, he said that people could disagree with the president-elect, but ultimately he “deserves everybody’s respect.”

On Friday, Buffett didn’t refer to the president by name in tackling the question on immigration. But he did mention two immigrants who had altered the course of US history: Albert Einstein and Leo Szilard.

In 1939, the European-born physicists wrote a letter to President Franklin Roosevelt, warning about the potential for Germany to develop an atomic bomb. The document led to the Manhattan Project, an effort that helped the US create nuclear weapons and end World War II.

“If it hadn’t been for those two immigrants,” Buffett said, “who knows whether we’d be sitting in this room.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s