Tuesday, March 06, 2007
Warren Buffett's Replacement
Still wondering how Warren Buffett's going to pick his replacement at Berkshire Hathaway?
Despite this headline from TheStreet.com (Stockpickr: Seeking Buffett's Apprentice), he's probably not going to pull a Donald Trump by getting a bunch of photogenic twentysomethings to compete on challenges, with the winners sleeping on Buffett's couch and the losing team sleeping in the parking lot at Gorat's.
But maybe he should.
Personally, I think Buffett should aim even younger. No way the #2 billionaire in the world doesn't have a team of doctors making giving him at least another 20 to 25 years left to live. That's just about enough time to turn a street urchin into a world-class investor. He could put "golden tickets" inside of chocolate bar wrappers to find a random sample of youngsters, and then take the finalists inside of the Berkshire Hathaway factory. In turn, all but one of the children would be eliminated from consideration, say, by suggesting that executive compensation should be tied to company performance instead of personal performance, which would cause a bunch of Geico lizards to break into song. The last kid standing will get a full education in the Graham and Dodd school of value investing and eventually run the business when Buffett flies off in his great glass elevator.
That's the way I see it happening.
Despite this headline from TheStreet.com (Stockpickr: Seeking Buffett's Apprentice), he's probably not going to pull a Donald Trump by getting a bunch of photogenic twentysomethings to compete on challenges, with the winners sleeping on Buffett's couch and the losing team sleeping in the parking lot at Gorat's.
But maybe he should.
Personally, I think Buffett should aim even younger. No way the #2 billionaire in the world doesn't have a team of doctors making giving him at least another 20 to 25 years left to live. That's just about enough time to turn a street urchin into a world-class investor. He could put "golden tickets" inside of chocolate bar wrappers to find a random sample of youngsters, and then take the finalists inside of the Berkshire Hathaway factory. In turn, all but one of the children would be eliminated from consideration, say, by suggesting that executive compensation should be tied to company performance instead of personal performance, which would cause a bunch of Geico lizards to break into song. The last kid standing will get a full education in the Graham and Dodd school of value investing and eventually run the business when Buffett flies off in his great glass elevator.
That's the way I see it happening.
Labels: finance, insurance, wall street
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