Warren Edward Buffett
Warren Edward Buffet is one of the most famous American investors in the world. He was the second richest person in the world for many years, but he is a notable philanthropist, promising to give away 99 percent of his fortune, which he has gave billions of dollars to the Gates Foundation. He is the primary stakeholder, chairman, and CEO of Berkshire Hathaway, a conglomerate holding company. He is currently 80 years old and many people admire him for his leadership skills and how that helped him to get where he is now.
Corporate leaders regularly make a trip to Nebraska, where he lives, to seek wisdom from Buffett. He has been an inspiration to many since he was a business visionary since he was a child, saving and investing money, selling newspaper, chewing gum, and Coca Cola around the neighborhood. According to the research of Spindler (2008), Buffett was not a born leader. He made mistakes and learned from his mistakes just like any other leader would. He is looked up to for his spending habits (or lack of) because he still lives in the same house he bought in 1958 for $31,500, and he drives a Cadillac DTS, which is a common car in the US. He auctioned his last car 2006, which was a 2001 Lincoln Town Car to raise money for charity.
Buffett’s leadership strategy is an example of cognitive theory, which is a learning theory of psychology that attempts to explain human behavior by understanding the thought process (Fritscher, 2009). According to Spindler (2008), “Mr. Buffet's continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace.” Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative...