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Author: kelbon Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 41633  
Subject: Re: BRK Date: 12/1/2012 6:47 PM
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I think it is worth noting that Warren Buffett has managed to craft a particular grandfatherly image, that the public seems to respect.

He makes money the old fashioned way. Honest, hard working, taking good care of his investors. Midwestern values where hard work is respected.



He's certainly managed to craft the image you describe and he has a reputation for honesty.

Honesty: given the business he's in you have to take this on a relative basis. He sometimes fudges a little; parsing words, and "do what I say, not what I do" doesn't go unnoticed by some commentators. Apparently, as a child, he stole his sister's bicycle and sold it!

Hardworking: Supposedly, he's at the office 9–5, but he's on the record as saying in investing sometimes the best strategy is to do nothing and wait for the perfect pitch. Compared to a ditch-digger, he's a slouch.

Taking care of his investors: A lot of his investors would like a dividend at this point. He's never going to take care of them with one.
His mantra that he can invest their money better than they can might be seen as taking care of them in a paternal way, but if they've held stock for decades, he certainly has.

Kindly grandfather: No. He publicly disowned his grand-daughter; Peter Buffett's step-daughter, for nothing more heinous than exercising (borderline) poor judgement.

kelbon
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