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Learning from Buffett/Munger, Hamblin/Watsa


shalab
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One thing about Buffett/Munger and Hamblin/Watsa that is different from others is the high degree of integrity displayed in their business operations. One example that stands out is the dealing in Wesco financial - BRK owns 80.1% of the company and can take the company private anytime it wants. Yet, they are willing to wait for the majority vote on the remaining stock to take it private. Further more, they rescued a company that would have definitely failed and compounded handsomely since then.

 

A lot of the other high profile investment managers today have been successful in making money but don't have the same degree of integrity. It is the feeling that if you leave your cookie jar with them and don't keep an eye on it, a few of them will go missing by the time you look again.

 

Another thing to learn from Buffett/Munger in particular is the vitality they have even in their advanced ages. Value investors in general live long and my bet is for Buffett to run BRK beyond 90. I think there are several reasons for this:

 

a. The level of integrity keep their mind light and free of stress.

b. Buffett talks about tap dancing to work - how many of us feel the same way about work?

c. Surround themselves with the people they want to work with - minimizes negative interactions

d. Keep reading and keep the minds active - it is like exercising - keeps the mind active.

 

 

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