Olivia: Could a childhood snowball fight hold the secret to becoming one of the richest people on Earth? Welcome to When It Happened, I’m Olivia, and we’re diving into the moments that define a life. Olivia: Today’s book is Alice Schroeder’s biography, "The Snowball: Warren Buffett and the Business of Life." It introduces us to Warren Buffett – not just the famous Oracle of Omaha, but the curious kid obsessed with numbers growing up during the Depression. The book meticulously charts his journey, his discipline, and his unique investment philosophy. It’s a huge story, but as the title hints, it all gained momentum from something small... which brings us to our defining moment. Olivia: Picture a snowy day in Omaha, Nebraska. A young Warren Buffett is playing outside with his sister, Bertie. As they roll a small ball of snow, Warren isn't just playing. He’s intensely watching it pick up more snow, growing larger, heavier, gaining momentum. He notices the initial effort is hard, but then the growth accelerates. Standing there in the cold, something clicks in his young mind – the power of accumulation, the magic of compounding, right there in his mittened hands. Olivia: Why is this simple winter scene so pivotal? Because it became the living metaphor for Buffett’s entire approach – the “snowball effect.” It’s the birthplace of his core philosophy: start small, be patient, stay disciplined, and let things compound. This insight explains his legendary patience, his strategy of holding undervalued companies long-term, letting their value snowball, rather than chasing quick, risky gains like so many others. It’s the foundation upon which Berkshire Hathaway was built. Olivia: So, what’s the takeaway? First, the most powerful ideas are often the simplest, like compounding. Second, patience and consistency are superpowers. Small, steady actions, repeated over time, can lead to massive results. Find your own snowball and start rolling. Olivia: That’s all for this episode of When It Happened. I’m Olivia. Join me next time as we uncover another crucial moment.