Lunch With Buffett Draws Less Interest Than Last Year
Another sign of the recession: So far, bids for Warren Buffett's annual lunch-with-Warren-for-charity are up to "only" $600,000 as bidding concludes at midnight tonight on eBay.
Last year, the winning bidder, hedge fund manager Zhao Danyang, paid $2.1 million to share a Diet Coke with Buffett. Zhao attributes his fund's strong performance over the past several years to tactics he's learned from Buffett.
Super-investor Buffett, chairman of Berkshire Hathaway and a director of The Washington Post Co., is the world's richest person, according to Forbes.
-- Frank Ahrens
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By
Frank Ahrens
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June 26, 2009; 4:39 PM ET
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Posted by: blakesouthwood | June 29, 2009 11:04 PM | Report abuse
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It seems that whomever is paying a ton of money to have lunch
with Buffett should look at how he invests. He only buys stock in companies with no unions and low paid workers that are dominant in their industry and if he liked them a lot he buys them and changes the management. He avoids technology investing completely. He's actually very risk adverse and is a very conservative investor. Further, he has financial analysts and advisors that do most of his thinking for him and it would be more worthwhile to have lunch with them but perhaps the aura of Buffett is what they are paying for. But his books don't improve people's investing so it seems like a waste.