In the last article, we looked into Warren Buffett’s story from the time he was six to ten years old. He’s shown curiosity and taken action towards his eagerness to learn about business and growing his income.

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We saw that Warren Buffett had built up a lot of trading and part-time experience between the ages of 6 and 10, but he continued to follow his curiosity. By the age of 10, he started to go to his father’s office to assist in the production of debt and stock market analysis forms.

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Warren Buffett continued to take an interest in money-making-related mathematical calculations, and he often kept doing the calculations himself.

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By the time he was 12 years old, in April 1942, Warren Buffett Jr. bought his first stock! 

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Warren Buffett Jr. used the money he saved from his part-time job to purchase three shares of City Service Preferred stock for himself and his sister, priced at $38, which was all he had at the time. 

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Investing, however, is not a straightforward process, and the value of the "City Service" company eventually fell to $27. But, despite the 30% decrease, the young Buffett remained patient and didn't panic. 

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He waited until the stock price rose to over $40 before selling, resulting in a $5 net profit after subtracting trading fees. This proved to be a wise decision, as City Services rose to $200 a few years later, demonstrating Warren Buffett Jr.'s uncommonly accurate investment vision.

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"Patience" is a must.

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Years later, Warren Buffett became known for investing in stocks. He was interviewed by Forbes Magazine and said, "It was as if I saw a bright light from afar in the darkness of the night, and I had been interested in stocks since I was a child, and my father was in the investment business, so I was able to learn beside him. I helped my father gather information, and he taught me how to read the market and read Graham's analysis of securities, and I learned a great deal in the process. It was a very important experience in my life to be rooted and to learn.”

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Warren Buffett Jr. was not only interested in the stock market but also in any industry related to numbers or money-making. That's why he also tried to start a gambling business with his friend, Bob Russell. The journal was titled "Real Winners Chosen by the Track Shack Boys," and they took it seriously by printing a lot of flyers and selling them everywhere at the Aksarben racetrack. The fact that Buffett could rattle off population figures for different American cities as well as baseball and horse racing statistics astounded his friends.

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At the end of 1941, the United States decided to participate in World War II, and Warren Buffett's home was greatly changed by this event. The President of the United States at the time was Franklin D. Roosevelt. He led the Democratic Party, which was very strong. 

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In Omaha, the Republican Party needed to find someone to fight against the Democrats because Howard had criticized the President's new economic policies and was put forward by the Republican Party to run for the House of Representatives. To his surprise, Howard was elected! By the end of 1942, Howard had moved to Washington, D.C. with his family.

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But for young Warren Buffett, who had lived in Omaha since he was a child and was attending Deere High School, he was so uncomfortable that he ran away from home with his best friend but eventually returned. 

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At the age of 12, young Warren Buffett made a profit on his first stock investment and applied his investment expertise and skills to horse racing and other industries, but he was still a child after all, and after the move, he was in a lot of discomfort and pain.

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In the next article, we'll share a fascinating story about Warren Buffett Jr.'s life with the Washington Post.

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