The other night on MSNBC I watched a documentary piece on Warren Buffett. Of course I knew of him, his philanthropic ventures, and his company Berkshire Hathaway. Turns out his company is simply a “holding company” used to invest in other companies which he holds majority shares in.
What caught me in this interview was how down to earth he is, how matter of fact he is, and just how personable he is. He is the second richest man in the world and drives his own Cadillac…why wouldn’t he. He lives in the same house he has for over 50 years, eats steaks at a local steakhouse, etc.
I also was intrigued by his management style – minimal meetings of any at all! For all of his companies he has a meeting with the senior executive. Each executive gives him one piece of paper with their goals on them. At the meeting the following year they go through the goals and see how they did. No need for weekly status meetings, conference calls all the time, etc etc. Just tell me how we did and we’ll adjust accordingly. I know another huge corporation that could benefit from such an idea!
Anyway…maybe should get something to read about Warrenn Buffett – seems very interesting.
Buffet, like Gates, is endlessly fascinating to me. I thought the most telling thing in the interview was Buffet saying “I’ve always had everything I wanted”. He’s done what he’s done for the right reason; he’s enjoyed it.
My favorite line was that he didn’t want his kids to inherit enough money to “not do anything”.
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