"Woodstock for Capitalists"


This year's annual meeting for Berkshire Hathaway shareholders is over and done. Businessweek reports on this year's wisdom from the Oracle of Omaha. I liked this piece of advice that, despite being obvious, is often ignored by investors today:

To Buffett, management is everything. He simply won't buy a business or a stock if he doesn't have faith in the executive suite. Indeed, in terms of investment criteria, a strong management team carries a lot of weight. "At headquarters, we're not training managers, we're finding them," explains Munger, who adds that it's pretty easy to identify talent. "If you're standing on Everest, you don't have to be a genius to recognize it's a high mountain."

If you actually went to this and blogged about it, please send me a link to the post as I'm always interested in what Buffett and Munger have to say.

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