Make wealth the Buffet way

Aug 08, 2006

As you've no doubt heard by now, Warren Buffett recently gave billions of his fortune to the Bill & Melinda Gates Foundation. How did he manage to create that much wealth in his lifetime? By bargain-hunting.

Buffett is known as a value investor, which means he buys stocks that he thinks are undervalued, or cheap, relative to what they are worth. Maybe a particular industry is being hammered in the press and the stock price of every company in that industry has dropped. Or possibly a management scandal has caused the stock price to plummet. If Buffett, or other value investors, suspect the price has fallen too far too fast, they buy the stock, betting on an eventual increase.

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