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I was reading the 2011 Warren Buffett/Berkshire Hathaway letter.  Warren Buffett is like a wise old grandpa, who just happens to be one of the richest people in the world.

He gave lot of insight into the economy and financial situation today.  What struck me most of all was this letter from Ernest Buffett (Warren’s grandfather) which was on page 23.

Warren found it in a safe in 1970 while executing a will of a family member…along with $1000.  Impressive…especially since it was written in 1939 (10 years after the Great Depression started).

Lessons Learned From Ernest Buffett

  1. Warren Buffett is not a freak of investing and saving nature…he is part of a legacy of savers, businessmen, and wise investors.
  2. Emergency Funds are a must.
  3. Leaving a legacy of character , hard work, and wisdom with money can change the world.  (I wonder what my grandchildren will accomplish?)
  4. You can change your family tree.
  5. Saving money is possible during hard times. (he started this 10 years after the Great Depression before the economy began its recovery)