Sunday, April 06, 2008

Buffett tips off MU crowd

He might be the richest man in the world, but Warren Buffett is not above taking the time to share is knowledge and expertise with budding business professionals.

During a videoconference yesterday, University of Missouri business students had the chance to pick the brain of the billionaire investor and CEO of Berkshire Hathaway Inc. as a part of a daylong educational forum hosted by MU’s Trulaske College of Business.

"Develop your own talents," Buffett said via satellite from a television station in his hometown of Omaha, Neb. He added that oral and written communication skills are the most important tools a person can have coming out of college.

"If you have those abilities when you’re young, you jump out," the 77-year-old business giant said.




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1 comment:

johnprice said...

It is great that you talked about Buffett's evaluation of his investments in terms of the success of the underlying business and not the stock price. In the last annual report of Berkshire Hathaway he writes,

"I should emphasize that we do not measure the progress of our investments by what their market prices do during any given year. Rather, we evaluate their performance by the two methods we apply to the businesses we own. The first test is improvement in earnings, with our making due allowance for industry conditions. The second test, more subjective, is whether their “moats” – a metaphor for the superiorities they possess that make life difficult for their competitors – have widened during the year." 

Over and over he has talked about the importance of earnings. This is why I set up a site called www.stablegrowthcompanies.com to help make more accurate forecasts of earnings.

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