Warren Buffett bought $37 billion worth of shares from Microsoft after a chance meeting with Bill Gates.

  • Warren Buffett gave investment advice to Bob Woodward, bought Microsoft shares after meeting with Bill Gates and struck a $37 billion deal thanks to a chance meeting, he told David Rubenstein in “How to Lead: Wisdom of the world’s largest CEOs, Founders and Game Changers.” “
  • The famous investor and CEO of Berkshire Hathaway also discussed the railroads, his annual shareholder letters, his retirement plans and the future of his company in the interview with the co-executive chairman of The Carlyle Group.
  • Scroll down to read Buffett’s 10 best quotes from the discussion.

Warren Buffett, co-chairman of the 10,000 Small Businesses Advisory Council, participates in a panel discussion after a press conference announcing a $20 million partnership to bring Goldman Sachs’ 10,000 Small Businesses initiative to the city of Detroit, Michigan, November 26, 2013.

Warren Buffett gave investment advice to investigative journalist Bob Woodward, bought 100 Microsoft shares after meeting with Bill Gates and made a $37 billion acquisition because of a chance meeting, he told David Rubenstein in an interview for “How to Lead: Wisdom from the World’s Greatest CEOs, Founders and Gamechangers.”

Rubenstein, the co-founder and co-executive chairman of The Carlyle Group, published the book in September. He spoke in 2016 with Buffett, a billionaire investor and berkshire hathaway CEO.

Here are Buffett’s 10 best quotes from the interview:

  1. “The railway company had a bad century. They look a bit like the Chicago Cubs. Everyone has a bad century every now and then” – on Berkshire’s purchase of the Burlington Northern Santa Fe railroad in 2009.
  2. “I bought 100 shares to keep track of what this young boy did” – about his early relationship with Microsoft co-founder Bill Gates. Buffett has probably spent less than $10,000 on the stock, which is now worth more than $1 million.
  3. “It was an accident that I met him. If I’d been playing golf or something, it would never have happened” – at his chance meeting with Precision Castparts CEO Mark Donegan when the executive was visiting someone else’s office in Berkshire. After hearing Donegan speak for 30 minutes, Buffett told his colleague to call him and propose a cash offer, resulting in a $37 billion takeover.
  4. “If all the diseases have abated, I’ll take taxes” – Buffett’s answer when a White House aide called him to ask if he’d mind naming a tax after him.
  5. “I enjoy teaching. And that’s what the annual report is. It’s a learning mechanism” – every year on his famous letters to shareholders.
  6. “Investing is just assigning yourself the right story” – when Bob Woodward asked Buffett for investment advice, the Berkshire chief told the Washington Post reporter that investing and reporting both choose a topic and gather facts.
  7. “Money, in terms of making trips, or owning more houses or having a boat or something, it has no use whatsoever for me” – on the subject of why he values time, not money.
  8. “As long as I keep my marbles” – the 90-year-old’s answer to the question of how long he will continue to lead Berkshire.
  9. “I consider Berkshire Hathaway to be a painter when it comes to a painting, the difference is that the canvas is unlimited. There’s no finish line at Berkshire. It’s a game you can keep playing” – about the endless opportunities to grow his business in the future.
  10. “When I offered to work for Ben Graham, I said, “I’m going to do this.” I’ll work for nothing’. Find the job that turns you on. Find a passion” – Buffett’s advice to young people.

Source: business insider

Published on
Oct 12, 2020

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