The OutsidersEight Unconventional CEOs and Their Radically Rational Blueprint for Success
By William N. Thorndike, Jr.
Today I am reviewing The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success. Read my other book reviews here.
You’ve undoubtedly heard of Jack Welch the celebrity “CEO of the Century” who . . .
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Two weeks ago, Warren Buffett’s Berkshire Hathaway purchased 63 daily and weekly newspaper titles from Media General (NYSE: MEG) (press release). In the letter below, Buffett welcomes the publishers and editors of the 25 purchased dailies to the Berkshire world and gives some insight into how the new boss thinks about business (a well received lesson, I would hope). The bold emphasis is mine.
May 23, 2012
To the Publishers and Editors of Berkshire Hathaways’s Daily Newspapers:
Until . . .
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Warren Buffett recently contributed to Forbes “When I Was 25″ series and as usual he does not disappoint. He discusses the decision he made at 25 between a comfortable (very early) retirement versus continuing to invest money for others.
Benjamin Graham had been my idol ever since I read his book The Intelligent Investor. I had wanted to go to Columbia Business School because he was a professor there, and after I got out of Columbia, returned to Omaha, and started selling securities, I . . .
→ Read More: Warren Buffett’s $50 Billion Decision
Last month, we met Allan Mecham of Arlington Value Management, a.k.a. The 400% Man. This week, SmartMoney profiled Mecham’s newest big bet: a levered position in Berkshire Hathaway (NYSE: BRK.A, BRK.B):
[L]ast year he levered up the fund and has invested half the money in Warren Buffett’s Berkshire Hathaway.
“Able to borrow at around 1.5%, we levered (Berkshire) into a 50%+ position,” he wrote in his annual letter to shareholders. “Though not advocates of leverage, we believe the . . .
→ Read More: Allan Mecham’s New Big Bet