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Warren Buffett

IIME 400 7/16/14
by

Tim Nevin

on 16 July 2014

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Transcript of Warren Buffett

Roots
Born in Omaha, Nebraska 1930

Early Interest in Making and Saving Money

By Age 20, Saved $9,800

Transferred from U-Penn to U. Nebraska
Warren's Roots
Business Magnet
Roots cont.
Leadership Styles
Accomplishments
Accomplishments
$37 billion -> charity
1950: $10,000 -> 2014: $40 billion
Assisted 2000+ become millionaires
First stock investment was 3 - $100 shares of Cities Service. After stock fell, he sold his shares at a marginal price but later witnessed the stocks rise by $200 each.
Made a profit off selling newspapers and buying old pinball machines and putting them up in barber shops
First large stock investment: Neighbor's $10,000
Was millionaire at age 26
"Someone's sitting in the shade today because someone planted a tree a long time ago."
Warren Buffett
Intelligence
Values
Happiness
Integrity
Success
Career
Technical & Functional Competence
Pure Challenge
Service Dedication to a Cause
Resonant Leadership
Strengths
Listening
Awareness
Weaknesses
Resistance to Technology
"Sloppy Manager"
Share
Execute
Inspire
Acquire
Visionary
Democratic
Trust
Autonomy
Communication
What have we
learned from
Inventor
Philanthropist
Berkshire
CEO
Largest Share Holder
World's
Wealthiest
2008
Value
Investing
Philosophy
Personal
Frugality
Masters of Science and Economics, Columbia Business School

Investment Salesman -> Securities Analyst -> Stock Broker -> CEO

Widowed by Susan Thompson, 3 Children

Married Astrid Menks

Net Worth: $58.5 Billion
Anchors
Competitiveness
Contribution
to Others
Social Awareness
Empathy
Relationship Management
Inspiration
“In looking for someone to hire you look for three qualities: integrity, intelligence and energy. But the most important is integrity, because if they don’t have that, the other two qualities, intelligence and energy are going to kill you.”
Self-Awareness
Self-Confidence
Persuasion
Relationship Management
Influence
Proactive Learner
Self Management
Initiative
“The rich invest in time, the poor invest in money.”
“A pure weak point is, I’m slow to make personnel changes”
Buffett doesn’t like telling his subsidiaries that they need to get rid of employees or restrict their actions in other ways.
Forgiving
Affiliative
Empathetic
Interactive
Encouraging
Was a major stock holder in Berkshire Hathaway textile manufacturing within 3 years of buying his first shares in 1962
At age 6: bought 6 pack coke for 25 cents and sold individual bottles for 5 cents each making a 20% profit
After stock market fell 22%, bought 50K Coca-Cola shares a day. Shares now worth $10 billion
Has never been involved in an infringement case, law suit, black market, insider trading scheme, etc.
Hates computers and has never used one to do business...like ever
Emotional
& Vision
Questions?
If I were Warren, what would I do differently?
Thanks!
Has Warren really never done anything wrong? Malicious? Under-the-table?
References
http://www.biography.com/people/warren-buffett-9230729
http://www.biography.com/people/warren-buffett-9230729/videos/warren-buffett-a-good-sense-of-humor-2087060842
http://beginnersinvest.about.com/cs/warrenbuffett/a/aawarrenbio.htm
http://fortune.com/2014/05/06/warren-buffett-on-his-biggest-weakness/
http://www.warrenbuffett.com/buffett-discusses-his-biggest-weaknesses/
http://www.fool.com/investing/general/2009/11/09/interview-with-alice-schroeder-buffetts-biggest-we.aspx
http://www.marshallgoldsmithlibrary.com/cim/articles_print.php?aid=897
http://www.foxbusiness.com/business-leaders/2014/02/27/warren-buffetts-3-practices-that-attract-and-retain-top-talent/
http://www.madstonblack.com.sg/_blog/The_Leadership_Performance_Blog/post/5_things_your_can_learn_about_leadership_from_Warren_Buffett/
http://www.investopedia.com/ask/answers/05/economicmoat.asp
http://www.pressherald.com/2014/07/16/warren-buffett-sets-big-example-with-2-1-billion-charitable-gift/
http://www.zillow.com/blog/files/2012/01/buffett.png
http://www.tradeyouredge.com/wp-content/uploads/2013/06/Warren-Buffett.jpg
http://cdn2.insidermonkey.com/blog/wp-content/uploads/2013/10/Warren-Buffett-2-500x571.jpg
http://cdn2.insidermonkey.com/blog/wp-content/uploads/2013/10/Warren-Buffett-15-500x571.jpg

Clark, David 2005 The Tao of Warren Buffett
Career Anchors Chapter Notes - Blackboard
Becoming a Resonant Leader: “Seeing your Dream”
Primal Leadership - Realizing The Power of Emotional Intelligence
Warren Buffet?
Overview of today's Buffett line?
Hathaway
Warren's Fruits
Full transcript