How did you get interested in Warren Buffett?
I was 13 and had money from my bar mitzvah. I realized I had no need to buy video games or clothing, so why not invest the money? At the library, the first books about investing I saw were about Warren Buffett. That this stuff could make sense to a 13-year-old is why it's so powerful.
| Row 0 - Cell 0 | Recent 'My Story' Profiles |
| Row 1 - Cell 0 | Complete 2007 'My Story' Collection |
What else about Buffett's style appeals to you?
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Being patient and working with people, not against them -- all that is very conducive to a happy life. The idea is not to get rich quickly but to have a rich life.
And the bar mitzvah money?
In 1998, I bought one Class B share of Berkshire Hathaway stock for $1,800. I sold the share two years ago for $3,020. I needed cash for my capital-management partnership. Now my firm owns Berkshire Hathaway shares.
What are the annual meetings like?
The first time I went, I was a student at the University of Maryland, and I cut school during finals week to go. I was very lonely that year. Now, my friends and I book an entire hotel and have a party on Friday afternoon for shareholders to meet other shareholders.
How would you describe the shareholders?
They are warm and welcoming, very smart, and they know business. They share the same values, not only about investing but also about giving back to the community. They're following Mr. Buffett's example. He sets the tone.
What about the second day?
It's like a rock concert. People line up at the stadium before the sun rises. Once the door opens, there's a stampede. After everyone is seated, there's pretty much dead silence as Mr. Buffett and his partner hold court. But my priorities have changed since I first attended. Now, I don't go to the Saturday meeting because I respect the Sabbath. Once it ends, I have friends tell me what they learned.
You once had lunch with Warren Buffett. How did you pull that off?
I called Mr. Buffett's office and asked if I could arrange a meeting with him in Omaha for Maryland students. His secretary said that if I could get 40 students to attend, he would do it. We all flew out and heard Buffett speak at his office. Then he took us out to lunch at Gorat's Steak House, his favorite restaurant.
Who paid? He did.
ALSO SEE: Investing Like Buffett and Graham
-
Fed's Rate Cuts Could Have Impacts You Might Not AnticipateUnderstanding how lower interest rates could impact your wallet can help you determine the right financial moves to make.
-
Past Performance Is Not Indicative of Your Adviser's ExpertiseMany people find a financial adviser by searching online or asking for referrals from friends or family. This can actually end up costing you big-time.
-
I'm want to give my 3 grandkids $5K each for Christmas.You're comfortably retired and want to give your grandkids a big Christmas check, but their parents are worried they might spend it all. We ask the pros for help.
-
Why I Trust These Trillion-Dollar StocksThe top-heavy nature of the S&P 500 should make any investor nervous, but there's still plenty to like in these trillion-dollar stocks.
-
What Made Warren Buffett's Career So RemarkableWhat made the ‘Oracle of Omaha’ great, and who could be next as king or queen of investing?
-
With Buffett Retiring, Should You Invest in a Berkshire Copycat?Warren Buffett will step down at the end of this year. Should you explore one of a handful of Berkshire Hathaway clones or copycat funds?
-
Stocks at New Highs as Shutdown Drags On: Stock Market TodayThe Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all notched new record closes Thursday as tech stocks gained.
-
9 Warren Buffett Quotes for Investors to Live ByWarren Buffett transformed Berkshire Hathaway from a struggling textile firm to a sprawling conglomerate and investment vehicle. Here's how he did it.
-
A Timeline of Warren Buffett's Life and Berkshire HathawayBuffett was the face of Berkshire Hathaway for 60 years. Here's a timeline of how he built the sprawling holding company and its outperforming equity portfolio.
-
Berkshire Buys the Dip on UnitedHealth Group Stock. Should You?Buffett & Co. picked up UnitedHealth stock on the cheap, with the embattled blue chip one of the newest holdings in the Berkshire Hathaway equity portfolio.
-
What Set Warren Buffett ApartAs Warren Buffett prepares for retirement, we reflect on what we've learned from his 60 years of leadership at Berkshire Hathaway.
