Why do I admire Warren Buffet?

Lot of people recognize or use Warren Buffet's name, majority knows him as one of the wealthiest man alive. I thought i will add why I personally admire him.

To start, it's not because he is one of the wealthiest man in world, there are plently of other super wealthy whom I don't admire or I don't care. In case of Warren Buffet, it adds credibility and shows that what he does works (really well)!!

I admire Warren Buffet because ...
  - His records are proven over a long period of time (50+ years) and not a one time 'lucky' phonomemon.
  - His principles are simple to understand (didnt say easy to follow :-) ). You don't have to be a genius to understand it.
  - He is open in sharing his investment principles and what worked for him. There is no secret trading platform or investment armies with complex trading algorithms.
  - He admits his mistakes!! Refer to his annual shareholders letter, latest available here
  - His principles are rational and makes sense!! E.g: "Be greedy when others are fearful and be fearful when others are gready", "The more number of decisions you make, the more chances of mistakes", "Price is what you pay. Value is what you get", and many more... 
  - Does not prefer loosing sleep (risk) for few extra $$.
  - Very modest salary of $100,000 for a corporation with its size and profit. And unlike Wall Street CEOs who earns 1$ salary and multi millions in stock option and other benifits, he does not have a stock options.
  - He treats his shareholders are partners, and candidly discuss his objectives and why he does certain things in certain ways. His shareholder's handbook is a great read.
  - His way of managing his companies (80+) is different. He Identifies/acquires talent/companies and give them freedom to do what they are good at and continue to grow business. Does not interfere in day to day activities of his CEOs. Does praise his managers indivudiually, openly often in his meetings and letters.So, most of the owners/CEOs continue to work for him after Bershire buys the business from them.
  - Allocates capital the most efficient ways.
  - Manages Risk better than pretty much anybody!! Read last year's shareholder letter where he states that risk management is CEO's responsibility and not that of a Risk Manager's or that of a committee's job.
  - He does not claim that he knows the future in short term. Unlike many others, who claims that they can predict S&P accurately for next week and month, he says he CAN'T predict future in short term.
  - Lives a modest life inspite and extreme wealth and success.
  - Donated most of his wealth to charity. That too, he didnt set up a new charity in his name, instead found the best available (Bill Gates) and allocated his wealth to their charity.
  - He made his wealth by investing in capital markets, which is an area of interest to me.

Above all, I personally find that his principles makes sense to me and that is something I can follow. And it worked for me in past and continue to works for me!!! Inspite of all these, I am not saying he is perfect and not human!!

My earlier posts about Buffet can be viewed here