When 7-year-old Warren Buffett said, "I will be the richest man one day," his friends made fun of his "daydreaming". But ever since then the little boy has set about learning how to make money by selling drinks, delivering newspaper and buying stocks. The American had already earned $9,000 (equal to $90,000 today) by the time he graduated from the high school. And this month the 78-year-old, who earned his fortune by making a lot of sound investment in the stock market, took the place of Microsoft founder, Bill Gates, as the world's richest man. Gates' worth declined $1.5 billion to $55.5 billion in 33 days after the recent financial storm, according to Forbes Magazine. Buffett, the only son of a stockbroker, was ready to think outside the box to develop his business from a very early age. At 8, he went to golf courses collecting and selling the used balls. At 11 when he sold soda pop door-to-door with a friend, the pair collected lids on streets to judge which flavor was the most popular. As a paper boy during high school, Buffett delivered two competitor papers, so that even when customers canceled one of the subscriptions   , he could still make a profit from the other. With his paper delivery savings, Buffett bought 162,000 square meters of farmland and collected rent. Young Buffett stepped into the stock market at 11 but earned only $5. The experience taught him one of the virtues in investing patience. After graduating from university, Buffett started his venture with stocks with his childhood earnings and money from friends. He researched the stocks and just bought those of solid companies that were undervalued and inexpensive at the time. By sticking to companies such as American Express and Coca-Cola, Buffett has become rich. "Learning is important to Buffett's success. He is a learning machine who can spend his entire day reading. He keeps learning from books, street smarts and investigation, from both success and failure. In this way, he over achieved his aptitude  ," said Charlie Munger, his longtime business partner. The passage is mainly about  _  .
why Buffett took the place of Bill Gates as the world's richest man what effect Buffett's childhood experiences have on his success how Buffett earned his fortune and achieve his aptitude what Buffett dreamt about when he was a child