Since my posting of my highlights of my visit with Warren Buffett, I have had the good fortune to receive some very inspiring and kind e-mails. I am grateful to all of my new "Buffett friends" for taking the time to express their appreciation and enthusiasm for my highlights. Some of you have been very supportive of my upcoming investment partnership, others have thanked me for taking the time and effort to post these notes, and others still from as far as India and Russia have appreciated the wonderful insights Mr. Buffett gives. Today, a fellow from Thailand asked if he could translate my notes in Thai for his community! What an honor!
During the first evening of the two visit with Mr. Buffett, I asked him this question:
Over the years, what has Berkshire Hathaway come to mean to you?
Buffett: Berkshire is my way of teaching those things that mean the most to me and what I want to get out to others.
If you think about it, the only time Buffett speaks for a lengthy period of time is at the Berkshire annual meetings and most recently, to students who pay him a visit. Everything else you hear from Buffett comes second hand via books by authors attempting to get inside his head. As a matter of fact, in the most recent issue of BusinessWeek, Buffett remarks that he pays no attention to the books written about him. He knows it would go against his nature to battle against the swarms of authors that attempt to give us the ways of "bufettology."
But Buffett goes on to say "My annual report is my book...the most recent one is already 13,700 words."
Just as Buffett feels Berkshire is his canvas for teaching, I see it as both a privilege and responsiblity to share with you all the highlights of my visit with him. I would never suggest nor want to convey that my transcript is a complete word by word account of my visit (this would not be in the spirit of my time with Buffett) but just an account of some of the most profound business principles around.
I am delighted to have you all as a source of wonderful conversation and friendship even if we never meet in person (although each May, we have a great reason to converge in a little place called Omaha).
I am beginning to flesh out the fundamentals and basic structure of Gad Investment Partnership--purely modeled after the 1956 Buffett Parntership. For now, I will give you one word that describes the mission of GIP: PARTNERSHIP.