Warren Buffett: He’s No Donald Trump
Berkshire Hathaway—a longstanding member of our Growth Portfolio—recently released its latest annual report. It’s written in plain, straightforward prose and clearly reflects the thinking of Berkshire chairman Warren Buffett. Buffett, of course, is widely acknowledged to be the greatest investor of our time, and it always pays to listen to his thinking on the market. But what caught our attention this time around were some perhaps unexpected personal attributes that may help account for at least some of his success and that all of us could benefit from emulating.
First, a lack of arrogance. Here’s one of the richest, most fawned upon, men in the world, and he has no problem admitting he’s made mistakes. For instance, he bemoaned that he didn’t reduce his positions in his consumer franchises in the 1990s, wondering what in the world he was thinking. If only politicians would be equally forthcoming!
A willingness to give credit to others.
Read more...
