brilliance embedded in a human being

[Biggy]

The Oracle of Omaha...
From: http://online.wsj.com/article/SB1131...we_banner_left
(note: this isn't the complete article, and you will need a l/p to view it all)


"OMAHA, Neb. -- Warren Buffett, the billionaire investor and insurance executive, was in his office here this summer when he received a faxed letter about a company he'd never heard of.

The letter was from an adviser to Forest River Inc., an Elkhart, Ind., recreational vehicle maker. He proposed that Mr. Buffett buy the company for $800 million.

Mr. Buffett liked what he saw: The company had a big market share and little debt.

The next day, Mr. Buffett offered to buy Forest River and to let its founder, Peter Liegl, continue running it. He sealed the deal, at an undisclosed price, in a 20-minute meeting one week later. As the meeting wrapped up, Mr. Buffett told Mr. Liegl not to expect to hear from him more than once a year. Says Mr. Liegl: "It was easier to sell my business than to renew my driver's license."

Mr. Buffett has relied on gut instinct for decades to run Berkshire Hathaway Inc. Watch him at work inside his $136 billion investment behemoth, and what you see resembles no other modern financial titan. He spends most of his day alone in an office with no computer. He makes swift investment decisions, steers clear of meetings and advisers, eschews set procedures and doesn't require frequent reports from managers. Occasionally he picks up the phone, calls his broker and trades $100 million or more of stock."

Article then talks about how Berkshire's long term debt ratings are getting lowered as Buffett gets older, since he is not that easily replaced. Makes sense, who else listens to him religiously? I know I do.