A Special Look at Warren Buffett
03/14/2003 12:00 am EST
Warren Buffet is not only one of the world’s greatest investors but also has one of the world’s most brilliant minds. His common sense and straightforward honest approach is awe inspiring. As a self- made multi-billionaire and the only member of the Forbes list of wealthiest individuals to make that list by stock market investing, Buffett has no personal axe to grind. His advice is from the heart and what he says you can trust that he truly believes.
I am avoiding going into details of Buffet’s well known history, which has been covered by the media extensively year in and year out. I would only note that over the last 38 years, per share book value of Berkshire Hathaway has grown from $19 to $41,727, a rate of 22.2% compounded annually. I prefer to focus on the issues of today and Buffett’s very astute comments in addressing such timely issues as corporate governance and the value of honesty and commitment. We also cover his views on derivatives and the potential problems that they pose to both the equity markets and the economy in general.
Both he and his partner Charlie Munger also offer advice on the current state of equities as well as general suggestions for successful investing. Finally we end this special Buffett issue with some of my favorite personal quotes from Warren Buffett over the years.