Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 12-10-2011, 03:38 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,663
as long as he doesn't have to stop growing corn and soybeans.
I'm anxious to see that 60 minutes show to see if WB has his tongue solidly pressed into his cheek.

Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-11-2011, 10:12 AM   #22
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,564
This information has been around for years, even decades, but I think the media is aware of their potentially dwindling opportunity for Buffett interviews. Perhaps it was a really slow news week. Or maybe they're auditioning an Andy Rooney replacement.

Originally Posted by MooreBonds View Post
I'm just curious on what his son's exact powers would be, and how the different roles would interact and be subordinate to the other positions on the board.
Also, while I certainly would hope that Buffet raised this son with great values, I wonder if his son would be able to follow the various financial methods, terms, scenarios and structuring that will come down the road with different deals? Not trying to badmouth his intelligence in any way, as there are some deals on Wall Street that sometimes only an expert with a PhD in computational finance can fully understand the implications of.
He can only effectively oversee what he understands and knows, and what the other board members/executives explain to him. Granted, I'm sure he would react after-the-fact if he found out that he was hoodwinked, but I hope he's able to be more proactive.
Originally Posted by clifp View Post
Think of Howard as the guardian of the Berkshire's culture and Warren's ethics.
What ClifP said.

Here's some links from the Berkshire website:
At my death, the Buffett family will not be involved in managing the business but, as very substantial shareholders, will help in picking and overseeing the managers who do. Just who those managers will be, of course, depends on the date of my death. But I can anticipate what the management structure will be: Essentially my job will be split into two parts. One executive will become CEO and responsible for operations. The responsibility for investments will be given to one or more executives. If the acquisition of new
businesses is in prospect, these executives will cooperate in making the decisions needed, subject, of course, to board approval. We will continue to have an extraordinarily shareholder-minded board, one whose interests are solidly aligned with yours.
Howie won't be making deals. He'll be listening to the ideas that the smart CEOs, Ajit Jain, and Combs/Weschler bring to him. Then he'll try to decide if it's something that his dad would have wanted to do.

Here's another reference he can consult if his common sense deserts him:
Corporate Governance

And here's the details of the letters distributing his charitable contributions to the Gates Foundation and the foundations of his three children:
Letters from Warren E. Buffett Regarding Pledges to Make Gifts of Berkshire Stock

Note that Buffett has struggled over the years with his thoughts on how he'll "help" his family (not just his kids). He awarded his kids some shares of stock when they were young adults and he encouraged them to follow their interests. However he didn't really help raise them, let alone teach them what he does. (I don't think Buffett is very good at teaching what he does, although he's very glib about it.) He refused to bail out his sister when she traded her stocks into a liquidity crunch in the 1980s. He was very stingy with giving siblings or kids money for fear of inflicting affluenza, but in later years he loosened up with a "million bucks every five years" policy. Suzy kept the Buffett household running when they were together, but when she moved out then the entire place fell apart. Even the dog left.

Schroeder's biography highlights out how badly Buffett's been scarred by his mother's emotional abuse. It brings up lots of interesting speculation about his relationships with women (of all ages) and parenting. Essentially he can't help doing what he does, and he's paid a very heavy price for it-- one that's been partially inflicted on his siblings, spouses, and children.

But we still keep a quarter of our investment portfolio in Berkshire Hathaway, and we still take advantage of the speculation & hype by selling call options & put options on the shares.


The book written on, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 12-12-2011, 06:12 AM   #23
MichaelB's Avatar
Join Date: Jan 2008
Location: On the road again
Posts: 21,125
The 60 minutes segment on the Buffets was good. It affirms what Nords posted - Howard will be the protector of the culture and not get involved in operations.
MichaelB is online now   Reply With Quote
Old 12-12-2011, 01:03 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
Join Date: Oct 2006
Posts: 7,427
One thing that I had not realized was that none of Warren's kids had graduated from college.However, they have all been pretty successful in life although Susie's "job" has been running her foundation for the last few year

clifp is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
family member asking for money - domestic violence issue :-((( simple girl Other topics 80 09-08-2015 09:05 PM
Hi 31yo w/ family been planning ER since I was about 19! (Pasadena, CA) matt_gti Hi, I am... 4 12-02-2011 07:48 AM
WATCH Warren Buffett on Charlie Rose Today 8/16 Midpack FIRE and Money 50 08-20-2011 12:35 AM


All times are GMT -6. The time now is 12:03 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.