Warren Buffett

Arguably the best-known investor on the planet. Buffett is known for the world-class returns he has produced for over 30 years from his investment conglomerate, Berkshire Hathaway, and for his witty and insightful chairman's letter in Berkshire's annual report. Adding in the investment record of Buffett's partnership, which he ran from 1956 to 1968 before sinking his capital into Berkshire, then his record from 1956 to 2001 showed an annual compound growth rate of 24.5%, enough to turn $1,000 into $i9m. Over the same period, the pre-tax return from the S&P 500 index was 10.1% a year.

Buffett is characterised as an exponent of value investing and he learned his trade from Benjamin Graham, who first espoused that particular cause. In many respects, however, Buffett's investment style is far removed from Graham's. It focuses on the "business franchise", the idea that there is a small cadre of exceptional businesses whose advantages mean that they are protected from everyday economics. Brand-name corporations, or those which can grow on the back of bigger corporations - "gross royalty businesses" such as advertising agencies - are good examples.