At Work With Warren Buffett

What is Warrent Buffett's office like? Apparently there isn't much inside. He mostly reads and thinks, and doesn't want to be influenced too much by the outside, lest it make him irrational. And what about his management style?

Mr. Buffett tends to stick to investments for the long haul, even when the going gets bumpy. Mr. Sokol recalls bracing for an August 2004 meeting at which he planned to break the news to Mr. Buffett that the Iowa utility needed to write off about $360 million for a soured zinc project. Mr. Sokol says he was stunned by Mr. Buffett's response: "David, we all make mistakes." Their meeting lasted only 10 minutes.

"I would have fired me if I was him," Mr. Sokol says.

What I would like to know is whether or not he was this hands-off 30 years ago. When you have $40+ billion dollars, I think it makes mistakes much easier to tolerate.

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