Interview with Warren Buffet

For those who don't know Warren Buffet,a brief introduction:

Warren Edward Buffett (born August 30, 1930, in Omaha, Nebraska) is an American investor, businessman and philanthropist.He is regarded as one of the world's greatest investors and is the largest shareholder and CEO of Berkshire Hathaway.With an estimated net worth of around US$62 billion,he was ranked by Forbes as the richest person in the world as of February 11, 2008.

Often called the "Oracle of Omaha,"Buffett is noted for his adherence to the value investing philosophy and for his personal frugality despite his immense wealth.His 2006 annual salary was about $100,000, which is small compared to senior executive remuneration in other comparable companies.When he spent $9.7 million of Berkshire's funds on a business jet in 1989, he jokingly named it "The Indefensible" because of his past criticisms of such purchases by other CEOs.He lives in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for $31,500, today valued at around $700,000.

Buffett is also a noted philanthropist.In 2006, he announced a plan to give away his fortune to charity, with 83% of it going to the Bill & Melinda Gates Foundation.He has donated around $35 billion to charity.In 2007, he was listed among Time's 100 Most Influential People in The World.He also serves as a member of the board of trustees at Grinnell College.


I Like him very much,Not because of his wealth,but his simplicity & attitude.
In this post im going to post the highlights of his one hour interview with CNBC.
After reading this one,i hope everyone will understand why he is the World's Richest Man..

Here are some very interesting aspects of his life:

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

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

3. 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.

4. He drives his own car everywhere and does not have a driver or security people around him.

5. He never travels by private jet, although he owns the world's largest private jet company.

6. His company, Berkshire Hathaway, 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 has given his CEO's only two rules:
Rule number 1: do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.

7. 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.

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

9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.


His advice to youngsters: "Stay away from credit cards and invest in yourself and Remember:

A. Money doesn't create man but it is the man who created money.

B. Live your life as simple as you are.

C. Don't do what others say, just listen to them, but do what makes you feel good.

D. Don't go on brand name; just wear those things in which you feel comfortable.

E. Don't waste your money on unnecessary things; just spend on things that you really need.

F. After all it's your life, then why give others the chance to rule your life."

Intel unveils six-core microprocessor

Bangalore, Sept. 16 Chipmaker Intel Corp launched its first 6-core x86 microprocessor, which is also the first microprocessor to be designed entirely in India.

The company said the new Intel Xeon 7400 series processor has up to six processing cores per chip, 16 MB of shared cache memory and 1.9 billion transistors.

Platforms based on these processors can scale up to 16 processor “sockets” to deliver servers with up to 96 processing cores inside, offering scalability, ample computing threads and extensive memory resources, Intel said.

“This new processor series helps IT manage increasingly complex enterprise server environments, providing a great opportunity to boost the scalable performance of multi-threaded applications within a stable platform infrastructure,” said Mr R. Ravichandran, Director, Sales, Intel South Asia.

The product has been designed by Intel’s India team including front-end design, pre-silicon logic validation and the back-end design, the company said.

Mr Praveen Vishakantaiah, President, Intel India, said, “The quality of available talent, technology ecosystem and business potential are factors which make India a strategic business site for Intel.” We have achieved a considerable degree of expertise in product design, he added.

Around 200-300 people from the India team have worked on this project, said Mr Vishakantaiah. From start to launch, the project has been completed in two years, he added.

Based on Intel’s 45nm high-k process technology, the new servers deliver almost 50 per cent better performance in some cases, and up to 10 per cent reduction in platform power, the company said. Intel said the new processor is compatible with Intel’s existing Xeon 7300 series platforms and the Intel 7300 chipset with memory capacity up to 256 GB, allowing IT departments to quickly deploy the new processor into an existing platform infrastructure.

Intel India has also contributed to the development of other Intel products like the Napa, Santa Rosa and Montevina mobile platforms and the Quad-Core Intel Xeon 5300 and Intel Core Extreme quad-core processor families.

The Bangalore-based Intel India Development Centre employees about 2,500 people (as of 2007) and Intel’s investments in India to date have been over $1.7 billion, the company said.

Ref : Business Daily from THE HINDU group of publications, Wednesday, Sep 17, 2008

Gates regains richest title from Buffett

Software czar Bill Gates has regained his position as America's richest person with a networth of $57 billion after losing this place for a few months to his friend and legendary investor Warren Buffett.

In its latest list of the 400 Richest Americans, US business magazine Forbes has ranked Bill Gates on the top, followed by Buffett at the second position with a networth of $ 50 billion.

The last list of the world's richest billionaires, published in March this year, Forbes had ranked Buffett on the top with a networth of 62 billion dollars, followed by Mexican telecom tycoon Carlos Slim Helu at the second and Gates at the third positions with fortunes of $ 60 billion and $58 billion respectively.

While Slim has not been included in the latest list for being a Mexican citizen, both Gates and Buffett have seen their networth taking a dip from the worldwide list. However, the fall is much larger for Buffett at $12 billion compared to $1 billion for Gates. Reuters

Gates and Buffett are followed by Oracle's Larry Ellison ($ 27 billion), Jim Walton ($ 23.4 billion).

Ref: FinancialExpress, Sep 19, 2008.

Google among top ten brands in the world

SYDNEY: Internet search engine "Google" has jumped ten spots to reach at number 10 in the list of the "Best Global Brands 2008". Google, which has built on its dominance in internet searches to expand into software, video, mapping and web browsing, was "the undisputed king of the internet world", and its brand value had shot up by 43 per cent, from 21.9 billion dollars to 31.5 billion dollars, said a report in news.com.au. According to the report, the annual study on the hottest brands in the world showed that tech companies put on the strongest showing, financial companies were the weakest, in. Besides Google, Apple was the second brand which was the biggest mover in Interbrand's "definitive" 2008 Best Global Brands. Apple jumped 9 spots to 24. To qualify for inclusion in the Best Global Brands 2008 list, each brand must derive at least a third of its earnings outside its home country, be recognisable outside of its base of customers, and have publicly available marketing and financial data. Coca-Cola took the top spot for the eighth year in a row thanks to its famous ad campaigns and knack for reinvention. IBM pushed ahead of Microsoft for the first change to the top four since at least 2001. GE held onto fourth position.

The top ten brands, according to the "Best Global Brands 2008" list are:

1. Coca-Cola

2. IBM

3. Microsoft

4. GE

5. Nokia

6. Toyota

7. Intel

8. McDonald's

9. Disney

10. Google

Ref:-Indiatimes,19 sep 08.

Advantages of Wi-Fi

• Unlike packet radio systems, Wi-Fi uses unlicensed radio spectrum and does not require regulatory approval for individual deployers.

• Allows LANs to be deployed without cabling, potentially reducing the costs of network deployment and expansion. Spaces where cables cannot be run, such as outdoor areas and historical buildings, can host wireless LANs.

• Wi-Fi products are widely available in the market. Different brands of access points and client network interfaces are interoperable at a basic level of service.

• Competition amongst vendors has lowered prices considerably since their inception.

• Wi-Fi networks support roaming, in which a mobile client station such as a laptop computer can move from one access point to another as the user moves around a building or area.

• Many access points and network interfaces support various degrees of encryption to protect traffic from interception.

• Wi-Fi is a global set of standards. Unlike cellular carriers, the same Wi-Fi client works in different countries around the world.

To know more about Wi-Fi, visit http://www.wilcorpinc.com/wifi_history.htm
WiFi brief history : http://www.marcus-spectrum.com/documents/economist.pdf

Bluetooth Technology Turns "10"

Bluetooth technology turned 10-years-old in 2008. It is still a youngster in terms of age, but is used the world over.

Bluetooth is one of the fastest growing brands ever – with nearly 2 billion devices using the short range wireless standard.

Bluetooth technology is in mobile phones, printers, cars, TVs and many of those popular wireless gaming controllers.

To mark the 10th birthday of Bluetooth technology, members of the Bluetooth Special Interest Group (SIG) can submit short stories. We want to hear about your best Bluetooth moments.

In the fourth installment of the Best Bluetooth Moments stories, Sensory Inc. CEO Todd Mozer discusses the intersection of Bluetooth and speech technologies and how his company is taking hands-free to a new level with voice controlled Bluetooth headsets - perfect timing for all the new Bluetooth users complying with recent hands-free legislation.

TOP TEN BLUETOOTH MUSIC MAKERS

1. Samsung YP-P2 Widescreen Music Player
2. Motorola MOTOROKR S9
3. Samsung BlackJack
4. Motorola Bluetooth DJ Headphones S805
5. Samsung YP-T9B Music Player
6. Nokia BH-501 Bluetooth Stereo Headset
7. Jabra BT620s
8. Logitech FreePulse Wireless Headphones
9. SonyEricsson MBS-100 Portable Speaker
10.TIE: Ford SYNC, Powered by Microsoft and Nokia MD-5W Bluetooth Speakers

Ref: http://www.bluetooth.com/Bluetooth/SIG/highlights

How To Achive The Dream?

The following article came from an e-mail I received a couple of years ago. I’m not sure who to give credit to, but I hope you enjoy it as much as I did.
Seven Steps to Achieving Your DreamBy Chris Widener
Vision is the spectacular that inspires us to carry out the mundane.
Can achievement be broken down into steps? Well, it isn’t always that clean and easy, but I do know that those who achieve great things usually go through much of the same process, with many of the items listed below as part of that process. So if you have been struggling with achievement, look through the following and internalize the thoughts presented. Then begin to apply them. You will be on the road to achieving your dream!
1. Dream it - Everything begins in the heart and mind. Every great achievement began in the mind of one person. They dared to dream, to believe that it was possible. Take some time to allow yourself to ask “What if?” Think big. Don’t let negative thinking discourage you. You want to be a “dreamer.” Dream of the possibilities for yourself, your family, and for others. If you had a dream that you let grow cold, re-ignite the dream! Fan the flames. Life is too short to let it go. (Also, check out my article “Dare to Dream Again,” which has been read by close to a million people in the last four months alone. You can see it at the website.)
2. Believe it - Yes, your dream needs to be big. It needs to be something that is seemingly beyond your capabilities. But it also must be believable. You must be able to say that if certain things take place, if others help, if you work hard enough, though it is a big dream, it can still be done. Good example: A person with no college education can dream that he will build a 50 million-dollar a year company. That is big, but believable. Bad example: That a 90 year-old woman with arthritis will someday run a marathon in under three hours. It is big alright, but also impossible. She should instead focus on building a 50 million-dollar a year business! And she better get a move on!
3. See it - The great achievers have a habit. They “see” things. They picture themselves walking around their CEO office in their new 25 million-dollar corporate headquarters, even while they are sitting on a folding chair in their garage “headquarters.” Great free-throw shooters in the NBA picture the ball going through the basket. PGA golfers picture the ball going straight down the fairway. World-class speakers picture themselves speaking with energy and emotion. All of this grooms the mind to control the body to carry out the dream.
4. Tell it - One reason many dreams never go anywhere is because the dreamer keeps it all to himself. It is a quiet dream that only lives inside his mind. The one who wants to achieve their dream must tell that dream to many people. One reason: As we continually say it, we begin to believe it more and more. If we are talking about it then it must be possible. Another reason: It holds us accountable. When we have told others, it spurs us on to actually do it so we don’t look foolish.
5. Plan it - Every dream must take the form of a plan. The old saying that you “get what you plan for” is so true. Your dream won’t just happen. You need to sit down, on a regular basis, and plan out your strategy for achieving the dream. Think through all of the details. Break the whole plan down into small, workable parts. Then set a time frame for accomplishing each task on your “dream plan.”
6. Work it - Boy, wouldn’t life be grand if we could quit before this one! Unfortunately, the successful are usually the hardest workers. While the rest of the world is sitting on their couch watching re-runs of Gilligan’s Island, achievers are working on their goal - achieving their dream. I have an equation that I work with: Your short-term tasks, multiplied by time, equal your long-term accomplishments. If you work on it each day, eventually you will achieve your dream. War and Peace was written, in longhand, page by page.
7. Enjoy it - When you have reached your goal and you are living your dream, be sure to enjoy it. In fact, enjoy the trip too. Give yourself some rewards along the way. Give yourself a huge reward when you get there. Help others enjoy it. Be gracious and generous. Use your dream to better others. Then go back to number 1. And dream a little bigger this time!
Chris Widener, New York Times, Wall Street Journal and Amazon.com Best-Selling author is a seasoned businessman, author and speaker. He has for nearly twenty years been involved in leadership in the business community, the non-profit world, and as a speaker and author. He has learned what he shares through his own experience and his interaction with and observation of the most successful people in the world.
For more information, visit his website http://www.chriswidener.com/.

Microsoft cutting Xbox 360 price to $200:

SEATTLE: Microsoft Corp said on Wednesday it plans to cut the US prices of its Xbox 360 video game machine, lowering the price of its entry-level console to $50 below Nintendo Co Ltd's top-selling Wii. The move makes the Xbox 360 the first game machine of this generation of consoles to sell for less than $200, a key mass-market price that Microsoft said historically has accounted for more than 75 percent of all machine sales. The lower prices ahead of the crucial holiday shopping season, a period of time when the video game industry racks up most of its sales, puts pressure on rivals Nintendo and Sony to cut the prices of their machines.

The company said it will cut prices for its entry-level Xbox 360 Arcade, which comes without a hard drive, to $199 from its current price of $279 and it also will lower the prices of its mid-range and high-end Xbox 360 consoles by $50 each. The new prices will go into effect on Sept 5. Nintendo's Wii sells for $249 while Sony Corp's least expensive PlayStation 3, which comes with an 80-gigabyte hard drive and a Blu-ray high-definition video disc player, retails for $399. "Microsoft wants to drum up demand for the holiday. Microsoft's long-term vision for the Xbox is not to turn a profit today," said Toan Tran, analyst with Morningstar. "It's a way to get a foothold into people's living rooms." Microsoft said it will cut the price of its Xbox 360 Pro, its best-selling version which comes with a 60-gigabyte hard drive, to $299 from $349 and reduce the price of its top-end Xbox 360 Elite with a 120-gigabyte hard drive to $399 from $449. The US price cut comes on the heels of a similar price cut for the Xbox 360 in Japan where Xbox sales have been slow. Redmond, Washington-based Microsoft has sold over 20 million Xbox 360 consoles worldwide since its introduction in late 2005 compared to 14.4 million units for the PlayStation 3 and nearly 30 million Wii units since debuting in Nov 2006. In recent months, the PlayStation 3 has outsold the Xbox 360 in the United States. "Microsoft recognized it needed to do something and I think they also can afford it," said Michael Pachter, analyst at Wedbush Morgan. "They've got to make it up by penetrating more households and selling more software." After losing roughly $5 billion since it entered the video game console business in 2001, Microsoft turned a $426 million profit in fiscal 2008 at its entertainment and devices division, comprised mainly of the Xbox business. The price cuts were reported earlier by BusinessWeek on its Web site.

Ref:India times,04 sep 08.