Born: Omaha, Nebraska in 1930
Employer: Berkshire Hathway Chairman
Famous for: A $10,000 investment into Berkshire Hathway when Buffett took control in 1965 would be worth over $50 million today. By comparison, $ 10,000 in the S&P 500 would have grown to only $500,000
Quote: "If past history was all there was to game, the richest people would be librarians."
Background:
Also known as "The Oracle of Omaha," many people consider Buffett the greates investor ever. Even with all the success and accolades, he still lives in the house he bought for $31,500 over 40 years ago.
What's most intriguing about Buffett is that he is one of the few extremely rich people who has amassed wealth solely through investing in stocks. His investment strategy of discipline, patience and value consistenly outperforms the market and his moves are followed by thousands of investors worldwide.
He is also famous for not joining the infamous tech/Internet stock rally in the late 1990s, stating that he refuses to invest in companies that he can't visualize 10 years down the road.
Great Buffet Quotes
"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1"
"Someone's sitting in the shade today because someone planted a tree long time ago."
"Wall street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway."
"Risk comes from not knowing what you're doing."
George Soros
Born: Budapest in 1930
Employer: Founder of Soros Fund Management
Most Famous For: A highly respected currency speculator, he once shorted the British Pound for a one day gain in excess of $ 1 billion.
Quote: "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."
Background:
Know as a hedge fund guru, Soros' expertise is mainly in currency speculation. He is principal investment advisor for the Quantum Fund, which is recognized for having the best performance record of any investment fund in the world over its 26-year and reinvested all dividends, your investment would have been worth over $150 million by the spring of 1994. At one point, analysts estimated Soros was earning over $4000 a minute.
Peter Lynch
Born: United States in 1944
Employer: Former Fidelity fund manager, today he is vice-chairman of Fidelity
Most Famous For: When he started managing the Fidelity Magellan Fund in 1978, it had assets of $20 million. When he retired in 1990, it had assets of $14 billion.
Quote: "Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it"
Background:
Lynch is arguably the world's most famous mutual fund manager. Often described as a chameleon, he adapted to whatever investtment style worked at the time. He was one of the first to uncover hidden gems such as Dunkin' Donuts, Pier 1 Imports and Taco Bell. People began to criticize Lynch once his fund surpassed $1 billion in assets in the early 1980s, but the fund rose to $13 billion less than seven years later. He admits to taking plenty of risks while managing the Magellan Fund, but he nexer suffered a losing year.
According to Valueline, "a $10,000 investment into Magellan in 1978 and then adding $100 per month, would add up to over $ 1 million, in 20 years!" While at the helm of Magellan, Lynch achieved an average annual return of 29% a year.