Warren Buffett by Alberto Costa Centena

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Warren Buffett by Alberto Costa Centena

  1. 1. Warren Buffett Albert Costa
  2. 2. 2 Quick Bio • Born in 1930 in Omaha • Son of republican congressman who owned a brokerage business • Very entrepreneurial youth, newspaper delivery “business” or selling pinball machines • Made his first investment at age 11 (bought three shares for himself and three for his sister • Went to Wharton for two years but transferred to Nebraska to finish BBA degree • Post graduation, after a few years in Omaha, he moved to New York just to work with Ben Graham • Started Buffet Partnership in 1956. After 13 very extremely successful years he closed the fun to focus on family and other interests • Acquired Berkshire in 1970 which is currently ranked #4th most valuable company in the US
  3. 3. 3 Warren at Work: A Happy Workaholic • “Tap dances” to work at 84 years old – His partner, Charlie Munger is 90 years old • Focus & authenticity • Life-long learning journey • Disciplined investing process • Simplicity: – Does not use email – Delegates – Holding company has 24 employees • Met lifelong friends at work – Charlie Munger, Bill Gates, Katherine Graham
  4. 4. 4 Warren’s Self • Developed self-awareness & empathy – Dale Carnegie course – Habit of writing down key decisions and motivations • Built his qualities – Developed list of habits and proactively pursued them – Avid learner: reads five newspapers every day • Self-control & confidence – By only doing what he knows he understands • Frugal – Leads a simple life comparable to any of us – Lives in the house he bought in 1952 for $30,000 – His car is old, believe me! • Personal hobbies – Bridge – Ukelele
  5. 5. 5 Contribution to the Community • Spreading knowledge – Teaching night class at the Nebraska university – Currently welcomes thousands of university students to Omaha – Shares his views of the world in annual letters to shareholders • Spreading wealth – Donated 99% of his wealth to the Gates Foundation – Launched Giving Pledge campaign to encourage wealthiest people in the world to donate most of their wealth to philanthropic causes. • Spreading Opportunity – Very active in the 60s and 70s in anti segregation movements in Omaha: Resigned from Rotary club, sponsored Jews in Omaha country club, supported Luther king – Strong supporter of higher number of women in top leadership roles. Required a 50% / 50% men / women ratio on our visit to Omaha
  6. 6. 6 Warren’s Family & at home • Acted Independently based on clear sets of values – Sons went to public schools – Encouraged sons to pursue their passions • Howard is a farmer; successor to Warren Buffest as non executive chairman of Berkshire Hathaway • Peter is a renowned musician • Susan has focused on charitable work • Life integration abilities initially weak…. – Worked at home for six years – Spent many nights and week-ends reading investment reports • Did not bring her wife on-board: she stayed up late at night listening to music • ….but has “improved” over time – Stopped Goldman Sachs investment negotiations in 2008 to have ice cream with his grand kids
  7. 7. 7 Lessons • Passion: A workaholic can be authentic and happy • Sets boundaries: physical, temporal and cognitive – Does not use email – Delegates significantly. Does not micro-manage – Knows what to prioritize • Continuous learning – Outside world – Self-awareness and empathy • Committed to society, economically and politically • Frugal

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