"The Real Warren Buffett"

Paper Summary:

In this article, the writer points out that Warren Buffett is an acknowledged leader in business and investing. The writer explains that Buffet has worked at Berkshire Hathaway for nearly five decades and led it to great, even astounding, success. The writer notes that his ultimate philosophy that customers should conduct themselves like owners of the company, forms the backbone of his ideology and ultimately his success. The writer notes that Buffett's success has led others to emulate his business model, some of which is described in the book 'The Real Warren Buffett'. The writer concludes that other managers, no matter what industry they serve, would do well to follow Buffett's models and methods.

From the Paper:

"Warren Buffett developed his role as a manager in the 1960s, after he had already spent 20 years as a successful stockbroker. Buffett believed to be a successful manager he should treat the business as his own, even if he was not the owner. He knew to do this; the ideas of management would have to change to reach this goal. He also knew he had to choose the right investments that would over the greatest gain and the least risk, just as if he were using his own money to invest. He decided to create a guarantee that assured his shareholders that their money would be returned to them if he could not give them a higher return than they could earn somewhere else. He also knew the people he managed would have to adhere to the same goals."

Sample of Sources Used:

• O'Loughlin, J. (2003). The Real Warren Buffett. Concordsville, PA: Soundview Executive Book Summaries.

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