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Warren Buffett: The Early Years

Warren's World Warren's World

Felix Salmon reviews the first section of the first-ever authorized biography of Warren Buffett. Read More
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On why getting Buffett mad is not a good idea:

Sanborn’s board consisted almost entirely of insurance company representatives—its biggest customers—so it operated more like a club than a business, except the board meeting wasn’t followed my a round of golf…At [Buffett’s first meeting as a board member in 1959], Warren proposed that the company distribute the investments to the shareholders. But since the Depression and World War II, American businesses treated money as a scarce commodity to be hoarded and husbanded…The board responded to the idea of separating the investment portfolio from the map business as preposterous.
Then, toward the end of the meeting, the board broke out the humidor and passed around cigars. While they smoked, Warren sat fuming. “That’s my money paying for those cigars,” he thought.
On the way back to the airport, he took pictures of his children out of his wallet and looked at them to bring his blood pressure down. Frustrated, Warren decided that he would take the company away from Sanborn’s undeserving board on behalf of the other shareholders.

On Susie’s spending habits:

[Susie’s] real focus was on having a home of her own at last…she redid the house in cheery contemporary style, with chrome and leather furniture and huge, bright modern paintings covering the white walls. The $15,000 decorating bill totaled almost half of what the house itself cost, which “just about killed Warren.”


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