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Business Daily - The Sage of Omaha, in his own words.

The Sage of Omaha, Warren Buffett explains how he made his fortune. He talks about theories of investing, derivatives, the credit crisis, the stock market and his personal life.

Warren Buffet is known as the Sage of Omaha. He's earned a fortune of 40 billion dollars and become one of the world's wealthiest men. At the age of nearly eighty, he still leads his investment company Berkshire Hathaway.

He invests in every kind of company, from small housebuilders to the mighty US bank Goldman Sachs. And he is noted for his frugal lifestyle. He collects a hundred thousand dollars a year for running Berkshire Hathaway, a drop in the ocean compared to the millions earned by many bosses. Three years ago, he said he was giving away the bulk of his fortune to charity.

For a man who doesn't seek publicity, his rather unconventional personal life attracted a fair amount of attention in the past.

Warren Buffett talked frankly to the BBC's Evan Davis. He told Evan about his theories of investing for the long-term, and his own use of derivatives, instruments which he has condemned in the past as 'financial weapons of mass destruction.' And we gain an insight into his personal life.

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