One day, I will write a proper and longer “Great Minds of Our Time” piece on Warren Buffett. In the mean time, I have this short piece for you.
I’ve been a big fan of Warren Buffett and his holding company Berkshire Hathaway for over 10 years. Probably even a few years before I read Buffett: The making of an american capitalist in 15 days in 1996 (highly recommended book) and The Warren Buffett way (very enjoyable). (See also my previous blog entry about his job ad.) I’ve talked about how solid Warren’s investment insights are but the stock always seem too expensive to me.
Well, the stock prices are still sky high, May 3rd 2007 stocks closed at $108,600 per “A share“, and $3,618 per “baby share“. But this year, I have finally put my money where my mouth is. I am sure the stock price will go up and down by the wimp of the stock market (ah, such is life (big smile)). But like Buffett buying 100 shares of Microsoft just to keep track of his friend’s company and read its filings and annual reports, I am doing the same with Berkshire.
Honestly, I got sick of hearing myself talking and writing about how great Warren’s insights are but simply sitting on the sideline watching the stock goes up. Reader beware, this is not an investment advice as the stock can go down. (Remember Warren’s bad investment in US Air?) For me, I am prepared to see the stock price goes down as I learn the same (with each press release and annual report) as the stock goes up.
Now, Clark Johannson is a new friend that I met through Demo Camp Calgary. To my pleasant surprise, he told me he was flying out yesterday to attend the rock-concert-like Warren’s Annual Meeting tomorrow (May 5th, 2007). I will have to get his report of the meeting and see if he got a chance to meet Warren or ask a question. Clark already ate at Gorat’s, Warren’s favourite steak house. Will have to ask him how the steak taste like except it is biggggg. (smile)
Feb 14th, 2013 Update:
1) My 2008 article/review/best of, “Kempton’s Review/Best of “The Snowball: Warren Buffett and the Business of Life””
2) Roger Lowenstein author of “Buffett: The Making of an American Capitalist” gave this talk at UC “Derivatives: ‘Weapons of Mass Destruction’ or Generators of Market Stability?”. It seems interesting and I will try to watch when I can find some time.