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Berkshire is a special type of business that is unique because it buys other businesses. There are few meetings or committees, because Buffett doesn't like those. He has bought over 70 businesses now, and he almost always buys the business from the same person who is going to keep running the business. He looks into their eyes to try to determine whether the person is in it for the money or whether he really loves the business. He can really only figure this out from talking to someone and looking into their eyes. Buffett never has an exit strategy, he only has an entrance strategy.
The majority of Berkshire stock holders say that they plan to hold their shares until they die and then to pass their shares on to their children. That is different than most stockholders of other companies. Buffett doesn't want to attract those type of stock holders. He considers these investors to be his investors, and he doesn't look at them as someone who wants to be pleased this quarter or next quarter. They should be in it for the long term. Buffett only does well when the shareholders do well. More than anything, he wants them to share the same principles. They are partners, and that is how they will be treated.
Channel: Education Channel