Warren Buffett says: Risk comes from not knowing what you're doing!

There was a one hour interview with Warren Buffet on CNBC, the second richest man who has donated $30 billion to charity. Following are some important aspects of his life.

He bought his first share at age 11 and he now regrets that he started too late!

He bought a small farm at age 14 with savings from delivering newspapers.

He still lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.

He drives his own car everywhere and does not have a drive or security people around him He never travels by private jet, although he owns world largest private jet company.

His company, Berkshire Hathway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.

He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.

Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had any thing common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasting for ten hours and Bill Gates become a devotee of Warren Buffet.

His advice to young people:

• Stay away from credit cards (bank loans) and invest in yourself and remember:
• Money doesn’t create man but it is the man who created money.
• Live your life as simple as you are.
• Don't do what others say, just listen them, but do what you feel good.
• Don't go on brand name; just wear those things in which you feel comfortable.
• Don't waste your money on unnecessary things; just spend on them who really in need rather.
• After all it's your life then why give chance to others to rule our life.