Step 1 : Introduction to the question "Business magnate Warren Buffett is known as “The Oracle of” what?"
Warren Buffett is an American business magnate, investor and philanthropist. Buffett is widely considered the most successful investor of the 20th century, having defied prevailing investment trends to amass a personal fortune of more than $60 billion. He is called the "Oracle of Omaha" because his investment picks and comments on the market are very closely followed by the investment community, and he lives and works in Omaha, Nebraska. He was ranked as the world's wealthiest person in 2008 and is currently the third wealthiest person in the world.