Warren Buffet has a fantastic image and a super machinery that keeps his image intact. In fact growing…
We saw a few days ago – that WB is:
1. a fantastic CEO of Berkshire Hathaway.
2. His whole portfolio (obviously including the insurance business) is extremely well diversified across industries, geographies, etc.
3. His performance over the past 30+ years is fine, however over the past 5-7 years has been matched by a few people including Templeton.
4. He does things which suit his portfolio. So you will not see him speak against coke addiction, coke creating diabetes, etc. He will also not say whether removing body hair is good or bad – he has Gillette in his portfolio, he will not speak about the poor quality of rating services – S&P is in his portfolio.
5. He happily and shamelessly sells his product. This is a feature that is good. If a CEO of a group, he should be constantly selling – not complaining, but just saying how WB is. This is of course far superior to one CEO of a big company who NEVER sold a product in his life. In one place where he was asked ‘have you come here to sell’ he was so offended, that I was amused.
Warren Buffet is not:
1. An easy person from whom you can learn how to invest! – if you cannot reconcile to the contradictions in his public statements. He says diversification is for fools – rather says ‘Indexing is better than active management’ but his portfolio doesn’t…
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