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Buffett uses Pulp Fiction reference?


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Ok, maaaaybe I'm looking into it too much... buuut...

 

So, for some background, I've recently been reading the Berkshire-Hathaway Shareholder Letters.  I started with the first one, and I've slowly been getting closer to the most recent one.

 

In his 1997 letter Buffett talks about how Berkshire-Hathaway's investment in US Airways finally turned around.  In the end, he summarizes with one sentence:

 

Next time I make a big, dumb decision, Berkshire shareholders will know what to do: Phone Mr. Wolf.

 

Whaddya guys think?  It's the 1997 letter.  And Pulp Fiction came out in late 1994.

 

Coincidence?

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Stephen Wolf was the guy that came in and saved the US Airways investment.  He was just saying next time I do something dumb, call Mr. Wolf to save my ass like he did this time.

 

It's just his way of praising a manager that did him a great favor in turning around US Airways (for a while).

 

edit - reading the original passage he was probably also making a pulp fiction reference since it was in italics and he's clever like that

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Ok, maaaaybe I'm looking into it too much... buuut...

 

So, for some background, I've recently been reading the Berkshire-Hathaway Shareholder Letters.  I started with the first one, and I've slowly been getting closer to the most recent one.

 

In his 1997 letter Buffett talks about how Berkshire-Hathaway's investment in US Airways finally turned around.  In the end, he summarizes with one sentence:

 

Next time I make a big, dumb decision, Berkshire shareholders will know what to do: Phone Mr. Wolf.

 

Whaddya guys think?  It's the 1997 letter.  And Pulp Fiction came out in late 1994.

 

Coincidence?

 

I doubt it.  In the movie, he's called "The Wolf"

 

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Stephen Wolf was the guy that came in and saved the US Airways investment.  He was just saying next time I do something dumb, call Mr. Wolf to save my ass like he did this time.

 

It's just his way of praising a manager that did him a great favor in turning around US Airways (for a while).

 

edit - reading the original passage he was probably also making a pulp fiction reference since it was in italics and he's clever like that

 

For an old guy, Buffett is incredibly in tune with popular culture.  I think he was referencing Stephen Wolf, but alluding to the quote from Pulp Fiction as well.  This is the guy who just played Walter White in his own AGM film, before the huge ode to Breaking Bad that the rest of the world was writing for the last five months as the show ended.  He's incredibly in touch with all facets of American culture from politics, sports, entertainment, etc.  That's what makes him so fascinating to even the non-investor!  Cheers!

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People think Buffett is working nonstop all the time, but that isn't value investing. He probably spends a lot of time watching movies and TV with a Cherry Coke in hand. Value investing is more about being able to do nothing when stuff is expensive. It is Munger's "sit on your ass investing".

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People think Buffett is working nonstop all the time, but that isn't value investing. He probably spends a lot of time watching movies and TV with a Cherry Coke in hand. Value investing is more about being able to do nothing when stuff is expensive. It is Munger's "sit on your ass investing".

 

Not saying that he doesn't watch TV or know pop culture, but I think what Munger and others mean when they say that is you don't need to act (as in buy or sell) all the time, so just sit on your ass and watch your investments. But at the same time Buffett and all good investors are constantly learning and reading about business, whether or not things are expensive at the time. :)

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