This video is the first in our two-part series on the investing career of Young Warren Buffett. The first part goes through early life and trades and ends with the beginning of his investment partnership?Buffett Partnership Limited (BPL) in 1956. In this video, Buffett also learns how to invest from his hero Ben Graham. First through his book, "the Intelligent Investor", then through being a student of his and finally by working for him.

While Buffett is currently known as a friendly investor who abhors hostile takeovers, in his early years, he was a very different investor. In addition, he often bought businesses with no durable competitive advantages, and he could have been considered a corporate raider because he would buy shares in a company to force management to make the changes he wanted. Buffett likes to call his early investing strategy, ?cigar butt investing,? but the term ?cigar butt? is a euphemism, and the ?free puff? , he discusses, from the cigar butt typically involves liquidating a business.
Despite being very different from his current investing strategy, the cigar butt years helped shape his later life as Buffett learned that he did not enjoy being labeled the bad guy who liquidated businesses. This documentary series, features Buffett?s early years interlaced with key trades that helped to make him the fourth richest person today.

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