Warren Buffett and Carlos Slim are two of the richest people in the world. Both started investing at a young age, with Buffett buying stocks at age 11 and Slim opening a bank account and purchasing shares at age 12. While Buffett initially struggled in school after moving as a child, he later excelled in business school, earning an A+ in Benjamin Graham's class. Similarly, Slim taught college courses while completing his own undergraduate degree. A key characteristic they share is being greedy when others are fearful - Buffett bought struggling companies during downturns, while Slim seized opportunities in Mexico after its 1982 economic collapse. The main difference is their approach to charitable giving, with Buffett pledging most

1. THE WARREN
BUFFETT OF LATIN
AMERICA?
Some key characteristics shared by
the world’s greatest investors…and
one big difference.

2. WHO ARE THESE GUYS ANYWAY?
Warren Buffett Carlos Slim
 Currently, the world’s third-
richest individual, with a net
worth of about $63 billion
 CEO of Berkshire Hathaway, a
conglomerate with diverse
holdings, and a focus on
insurance.
 Born and currently lives in
Nebraska
 Currently, the world’s second-
richest individual, with a net
worth of about $71 billion
 Honorary Chairman, America
Movil, and holder of controlling
interest in industrial
conglomerate Grupo Carso
 Born and currently lives in
Mexico City

3. 1) THEY STARTED INVESTING EARLY
 Warren Buffett made his first investment at the age of 11.
He bought shares of Cities Service stock for himself and his
sister Doris. Later, when he was just a high school
sophomore, Buffett bought a 40-acre Nebraska farm and
hired a tenant farmer to work the land for him.
 At the age of 12, Carlos Slim opened up his own personal
checking account, and purchased shares of said bank—Banco
Nacional de Mexico—while he was at it.

4. 2) WHEN IT MATTERED,THEY EXCELLED
IN SCHOOL
 Early on, Buffett struggled in school. He was forced to move
from Nebraska toWashington, D.C. when his father became
a Congressman. He wasn’t exactly a fan of the move, and it
showed. Says Buffett:“I behaved pretty badly.”
 Later, however, when he was a graduate student at the
Columbia Business School, Buffett excelled under the
tutelage of professor Benjamin Graham. In fact, Buffett was
allegedly the only person to earn an A+ in Graham’s course.

5. 2) THEY EXCELLED IN SCHOOL (CON’T)
Carlos Slim attended the National Autonomous
University of Mexico with a degree in civil engineering.
While he was completing his undergraduate studies,
however, Slim was actually a student and a professor!
Slim taught college courses in algebra and linear
programming before he was 22 years of age.

6. 3) THEY WERE GREEDY WHEN OTHERS
WERE FEARFUL
 InWarren Buffett’s 2004 letter to shareholders, he famously wrote:
“Investors should remember that excitement and expenses are their enemies. And
if they insist on trying to time their participation in equities, they should try to be
fearful when others are greedy and greedy when others are fearful.”
[emphasis added]

7. 3) BE GREEDYWHEN OTHERS ARE
FEARFUL (CON’T)
 During his time as an investor, Buffett often eschewed market
sentiment—pouncing on well-known names when they were
down in the dumps, and famously staying out of technology
stocks during the dot-com run-up.

8. 3) BE GREEDYWHEN OTHERS ARE
FEARFUL (CON’T)
 In the early 1982, Mexico’s economy collapsed on the heels
of falling oil prices and rising interest rates.
 While many were pulling their money out of the country,
Slim used it as a buying opportunity. He amassed positions
in a wide range of businesses, including the Mexican
subsidiaries of many well-known international brands.

9. ONE AREA OF DIVERGENCE: CHARITABLE
GIVING
 Buffett has pledged much of
his fortune to charity,
primarily through the Bill
and Melinda Gates
Foundation.
 Buffett also spearheaded
The Giving Pledge, whereby
the world’s wealthiest
individuals agree to leave a
substantial portion of their
wealth to charity.
 Slim’s attitude towards charity
is best described as ambivalent.
 He has devoted at least $8
billion to two of his foundations
 Slim claims,“trillions of dollars
have been given to charity in
the last 50 years, and they don’t
solve anything.”
 Slim, however, has also donated
his time to causes, quoting
Khalil Gibran saying,“you give
but little when you give of your
possessions. It is when you give
of yourself that you truly give.”