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Berkshire Hathaway Inc. Message Board

  • Mktwatcher Mktwatcher Dec 22, 1997 8:30 AM Flag

    The WB Formula

    I am a 'b' shareholder, and enjoy watching this board and the comments everyone makes. I have read the books on WB, and have
    followed him for years, and want to make a couple of observations. One, whatever formula he uses to value a company or stock, will be
    more simple than complex. The man is well grounded and a realist, and doesn't like to complicate anything. He has been quoted as
    saying, in essence, that common sense wins out over complicated modeling everytime. Whatever formula he really uses, will probably
    never be fully known, except by a select few. Every great cook will give you a recipe, but they always seem to leave a little
    something out, so yours will never be as good as theirs. Besides, WB is way too smart to let everyone know what he does, or how he
    does it. That would drive up compitetion, and pricing of his deals. We may get close to his recipe, but I doubt it will be the
    same.

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    • It interests me as I read this bulletin board about Mr. Buffet.
      I had the dubious pleasure of working indirectly for Warren
      Buffet for several years at a small company in southwestern
      Ohio. Let me tell you that the skyhigh valuation of his stock
      is built on the backs of many hard working people who had
      no idea of the wealth that they have helped to creat. The
      managers of my former company went to great lengths to
      conceal the true state of affairs from their employees for
      fear that there would be an open revolt among the workforce.

      I was lucky because I went on to a graduate degree and
      I managed to leave Mr. Buffets' merry establishment. After
      several years of low pay, no retirement plan, many hours of
      unpaid overtime, poor health insurance, and terrible office politics, I realized that there are better places to work. The
      sad fact is that with the rare exception of the company
      president and vice-presidents, the average worker at one of Warren Buffets' SWEATSHOPS will never be able to save enough to buy even a part of a share of Berkshire Hathway stock. As long as there are companies like Berkshire around,
      unions will always exist.

      • 3 Replies to mtrent1
      • Subj: Working for Buffet
        By: mtrent1
        Date: 12/22/97 08:56 pm

        It interests me as I read this bulletin board about Mr. Buffet. I had the dubious pleasure of working indirectly for Warren Buffet for several years at a small company in southwestern Ohio. Let me tell you that the skyhigh valuation of his stock is built on the backs of many hard working people who had no idea of the wealth that they have helped to creat. The managers of my former company went to great lengths to conceal the true state of affairs from their employees for fear that there would be an open revolt among the workforce. I was lucky because I went on to a graduate degree and I managed to leave Mr. Buffets' merry establishment. After several years of low pay, no retirement plan, many hours of unpaid overtime, poor health insurance, and terrible office politics, I realized that there are better places to work. The sad fact is that with the rare exception of the company president and vice-presidents, the average worker at one of Warren Buffets' SWEATSHOPS will never be able to save enough to buy even a part of a share of Berkshire Hathway stock. As long as there are companies like Berkshire around, unions will always exist.

      • Dear mtrent1,

        You ought to go back to that low-grade graduate school you say you attended and take economics 101. Then you would realize that some of your statements are complete rubbish.

        But then again, I have a feeling you know that intuitively in the back of your mind already.

        Sounds to me like you have a problem accepting any kind of personal responsibility for your own problems. It's so much easier to blame the rich guy, who made his money the old fashioned way - he earned it by being honest and by using his talents to their fullest extent.

        With regard to your last sentence, I must say that as long as there are people like you around who can't handle the burden of taking personal responsibility for their troubles, society will suffer.


      • In reply to the previous message,

        Sir, capitalism works because everyone has a choice to do what he or she wants when they want. You, for instance, had a
        chance to get a graduate degree by working hard to make something of yourself. So do most of the employees who you consider to be
        Buffett's slaves. We do not need your pseudo-communistic remarks cluttering up the Berkshire bulletin board. The United States is the
        greatest country in the world precisely because people have a choice, unlike in many countries. There will inevitably be casualties
        but nothing in life is perfect. Capitalism is the closest thing we've got. Buffett, I can assure you, has nothing to do with the
        fact that those you worked with were miserable. You probably had a lot to do with it, however.



 
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