Who I Want To Emulate - Part 1

One of the people I most want to emulate is the Oracle of Omaha. Other wise known as the second richest man in the world, Warren Buffett. Can I be the next Warren Buffett? Probably not, I would be starting way to late in life. However, I desire to invest my available funds and make myself rich. Maybe (and hopefully) multimillionaire if not a billionaire. The things I would be able to do with that kind of cash in the name of good will.

I realize though, before I can even begin to invest, I will need to finish getting myself debt free. 100% debt free, like Warren Buffett was when he started investing. Like Dave Ramsey says though, I cannot invest a dime until I get my debts paid off. Although against Ramsey's advice, I still have money going into my 401-k. However, I am not investing into any of my stock interests. Still though, I look at what Buffett does, and consider his investments. It is those things that I plan to invest in; to begin with, when I get back into a position to be an investor.

So it was with great interest that I read, Buffett's Berkshire buys more of BNSF, in my local paper. Burlington Northern Santa Fe is a local company in Topeka and is one of the largest transportation companies in the country.

OMAHA, Neb. — Warren Buffett's Berkshire Hathaway has bought 7.8 million more shares of Burlington Northern Santa Fe stock, giving it control of 17.2 percent of the nation's second-largest railroad.

Berkshire had owned about 15 percent of Burlington Northern before this latest purchase, which was revealed in a Friday filing with the Securities and Exchange Commission

Berkshire made its latest railroad stock purchase on Wednesday by exercising the options it already held to buy 7.8 million shares of Burlington Northern stock. Berkshire now owns 60.8 million shares of BNSF.
- Topeka Capital Journal

Being a local company, I am familiar with this company, headquartered in Burlington, IA. The question though is do I know enough about the operation of such a company to become an owner? Buffett always says to never invest a company that you couldn't take the reins of. That is why he is reluctant to invest in tech stocks. It also is the reason the few shares of stocks that remain in my portfolio (being to few to sell, to get any funds from) are all in retail and food companies. Such companies as Kroger (a competitor to my company), Pier 1 and Coca-Cola. Since I have worked retail most all my life, these are companies I know something about and feel, if I had to, could step in as chairman of.

I still have an estimated 2 years before I am completely debt free, so I will have time to consider such an investment. Not to mention how heavily I will begin increasing my current investments.