No this is not a simple post on the Oracle of investing…but just clearing the air for some people.
Who is WB?
He is a brilliant investor. There is no doubt that he has created a lot of wealth for his shareholder. Does it make him the greatest. Well we will discuss that later on.
He is NOT a fund manager. Many people think of him as a fund manager. That he is not. You cannot compare a Prashant Jain, a Peter Lynch, or any other fund manager. W B can buy 76% of a company, take it private, build up strength, and then take it public again. Fund managers cannot do that. WB can change the management, change the auditor, change the banker, change the method of funding…..but fund managers cannot. P Jain can buy 4-5% and hope that the management is not bad. If he finds that the management is bad, he can sell that is all.
He is a businessman: Make no mistake. He is the CEO of Berkshire H…y. He does all that which is good for his company. He is an unabashed salesman – he sells products that is made by the companies in which he has invested. So he will talk about WSJ, Coke, Gillette, ….etc. etc. If he invests in India he will sell you Bajaj Alliance insurance. No doubt.
This is good and amazing. I know of MDs who would be ashamed to talk about their products. As a salesman WB is just on top of the world. Typical aggressive American salesman. This is how a MD should be.
Philanthropy: WB is a great philanthropist and there is no doubt about it. However his critics can find a fault here too! He started giving and distributing his wealth only after his 70th birthday (I am not a historian) – however he is asking people who are much younger to give it away NOW.
more to continue….
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