Increasingly in recent years, Warren Buffett has made a practice of meeting with groups of students and speaking to them about various aspects of his business and his thoughts on various topics. Periodically, one of these students will write a blog post or a college newspaper article about their experience, and though I have read perhaps a half dozen of these, I continue to find interesting new tidibts in each new one. I guess they’re kind of like snowflakes.
In any event, Sarah, a Harvard undergraduate, writes about her visit at lifeatharvard.com. Though I’ve heard it before, I think Buffett’s unique definition of success bears repeating:
We talked about success – real success. Buffett told a story about en elderly lady he met in Omaha, a Polish Jew who had spent years in a concentration camp during the Second World War. She told him, “Warren, I am very careful about making friends. When I meet a potential friend, I always ask myself: Would they hide me?â€
“If you get to be 75, and have lots of people who would hide you, you’re a success. That’s really the test. You can’t buy it.†He talked about the importance of awareness of how you treat other people and of thinking about the reverse of your actions. “I know people whose own kids wouldn’t hide them, “Buffett said. “They’d be yelling, “He’s in the attic! He’s in the attic!â€
I think this speaks to the essence of why so many people find Buffett worthy of study. It’s not merely that he has perhaps the greatest long-term track record of any investor, but that he has managed to do so without sacrificing his humanity. He has shown that success and ethical behavior are not mutually exclusive. And given the large number of recent counterexamples, our hope requires a Warren Buffett. After all, nobody aspires to be the next Jeffrey Skilling.
I’m a Catholic Priest..ex…sort of. Married for 34 years with two children who are struggling to reach their goals in the medical professions, I know the meaning of struggle. Ive met two Popes, several mega persons in the business world, a few movie stars. Of all these, Shirley Temple most impressed me. My wife is disabled and in much pain. I’m retired and do my best to care for her. As we try to make it through the bills and everyday pressures of our life, I at times, get tired of seeing the faces of billionairs on TV and on the net who give and compete to be on lists. I question their motivations. After all, actions are not relly important. Only motivation is the real truth. I liked Buffett’s Polish Jew story. I think, however, he still needs much to learn before he dies. Where your treasure is, there your heart is. Warren, I think, is a good man. When I spoke to the likes of Edgar Kaiser, I could easily see their motivations. Warren with the Polish Jew story, what really is your tresure? What, really, is your motivation? I guess I still stand firm on the fact that the poor give more to the poor than any billionair could hope to. They give what they cannot. They give their souls. Peace…