Warren Buffett aka the Oracle of Omaha is set to become a cartoon character via a series of so-called Webisodes created for AOL by new children’s media company 'A Squared Entertainment'.

Warren Buffet is currently the second richest man in the world with a net worth in the region of $40 billion. As a child he was always interested in finance and making money and filed his first tax return at the age of 13. His philosophy is one of get rich slow or "value investing". He invests in companies for the long-term and generally re-invests any dividends he gets, being a firm believer in the power of compound interest.

He lives in the same house he bought in Nebraska, Omaha back in the 1950s. The cartoons in the “Secret Millionaire’s Club” will be around 5 minutes long and are designed to teach kids (and I suspect some adults) the wisdom of careful investing and the need to understand money and finance, something that schools could do a much better job of teaching. Warren Buffett firmly belives that the lessons you learn in childhood about money follow you around for the rest of your life, so it is important to learn good lessons early !

In the cartoon series “an animated Warren Buffett is a mentor to a group of kids who have adventures in business and learn financial lessons along the way.” No doubt he will be talking of the evils of credit cards, which is somewhat ironic given that his companies make money from credit cards ! But that's just a fact of financial life I guess.

Other series of Webisodes will feature other famous personalities such as Little Martha with Martha Stewart, Gigi and the Green Team with Giselle Bündchen and Kosmos inspired by Carl Sagan. A Squared was founded by Andy Heyward, who was in charge of DIC Entertainment for many years, and marketing executive Amy Moynihan.

Secret Millionaire's Club Cartoon Series

In a press release Buffett said : “What better time to help educate our kids about financial responsibility. Andy Heyward and I have a longstanding relationship, and I am excited to introduce a series that is as fun as it is informative.”

Warren Buffet came up with the title The Secret Millionaire's Club himself. Andy Heyward, who has previously produced movies for Berkshire Hathway's annual meetings said : “If you are going to teach somebody, a kid, about financial literacy, who could be better than Warren Buffett?”

A Squared will create the segments, and MGX Lab LLC a marketing company based in New York, will add activities and games to support the content. The webisodes will also be made available on the web and marketed using the power of social networking.

Let us hope that Warren Buffett and the Secret Millionaire's Club cartoon series will succeed where schools have singularly failed. When kids leave school, no matter what qualifications they end up or don't end up with as the case may be, they will all be confronted with the same problem of how to manage their money and hopefully how to stay out of debt, so any sort of educational series on such an important to topic is to be welcomed hopefully it will include something about stock trading.

When asked for his advice tio students Warren Buffett recently said : "The biggest suggestion I have is to avoid credit cards. Interest rates are very high on credit cards. Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I’d be broke.... So if I had one piece of advice for young people generally it would be to just avoid credit cards."

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For information about the stock market and a warning about investing see - How does the stock market work