In the last article, we learned how Warren Buffett earned a 50% investment return from GEICO, an insurance company. After graduating with an A+ degree, he worked as a securities salesman but was unsuccessful.

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After experiencing setbacks in his first job, Buffett realized that he wasn't well-suited for a purely sales-oriented role as a securities salesperson. He chose to find solace in reading and repeatedly studied the well-known investment analysis publication "Moody's Manuals" issued by Moody's, a renowned investment analysis company.

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Following the "Graham-Dodd Theory" to discover promising brands, he only managed to earn a minimal fee even if he succeeded. Thus, compared to his current job of recommending stocks, Buffett still yearned to work at Graham's company. He continued to write letters to his teacher, Graham, sharing his investment ideas and what he had learned, holding onto hope.

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Buffett felt he should strengthen his sales skills, so he enrolled in a presentation skills training class during his free time. Public speaking skills were essential for convening investors, entrepreneurs, and even investment partners in the future. 

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Furthermore, he cleverly served as a lecturer for a course called "Investment Principles" at the University of Omaha's social education institution, which provided him with more opportunities to improve his speaking abilities.

While trying his hand as a lecturer, Buffett developed an extraordinary talent. He stepped into the classroom as a skinny young man with students much older than him. These students were initially doubtful but were eventually impressed by his knowledge when he started his lecture.

The following year, in April 1952, Warren Buffett married Susan Thompson. Their fathers knew each other, as Susan’s father, William Thompson, helped Howard Buffett run for the House of Representatives in Omaha. In addition, her sister was quite close to her as they became roommates in the dormitory.

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She was a friendly, kind, and intelligent woman, and the couple had a great relationship. She found her husband to have a colorful and great character. Eventually, they had a daughter and two sons. She was always the best mother to her children, helpful to her father, and supportive of her husband's career.

Two years after their marriage, Buffett finally received the news he had been eagerly awaiting. His mentor, Graham, extended an invitation to him, asking, "Would you like to try working at Graham-Newman?" Without hesitation, Buffett immediately brought his wife, Susan, to New York and joined Graham-Newman Corporation, taking an important first step in his investment career!

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[What is a Credit Rating]

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In the stock and bond markets, there is a credit rating mechanism. It aims to show the size of the credit default risk of the rated entity. Specific specialized credit rating agencies conduct investigations and analyses of the rated entity's financial conditions and operational data and then give an overall evaluation of the financial credit status.

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Credit ratings originated in the early 20th century in the United States. In 1902, the founder of Moody's, John Moody, first rated the railroad bonds issued. The rating system later extended to various institutions that are objects of different financial products, with Moody's, Standard & Poor's, and Fitch Ratings as the prominent representatives. The second type of institution conducts credit investigations and evaluations of commercial enterprises, and the representative institution is Dun & Bradstreet. Finally, the third type is to conduct credit studies on individual consumers with well-known companies such as EFX (Equifax), TransUnion, and Experian.

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After an enterprise or a country undergoes a credit rating, it will be assigned a rating from AAA to D based on its credit status, with AAA being the best, representing excellent reputation and almost no risk; followed by AA, representing excellent reputation, and almost no significant risks, followed by A, BBB, BB, B, etc., and D is the worst rating, usually indicating that the company has completely gone bankrupt.

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We hope you enjoyed today’s snippet of Warren Buffett’s journey. We saw how he continued to work hard to become a lecturer and investment professional.

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Watch out for the next article to learn more about his experience in the business and investment world!

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