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Buffett? Look up the Superinvestors of Graham and Doddsville; addresses your 'just statistics' issue. On the general investment management industry, in aggregat

• wstrange 11y ago
  Buffet is not a good example. He is much more than an investor. He takes a large enough position in his investments so that he has control (or major influence) in how his companies are run.
  • Riod 11y ago
    What? He has historically given up his proxies over to management.
    • wstrange 11y ago
      True - but he also instills his management philosophy in his acquired companies. CxO pay is also not as lavish as other companies. From https://www.gsb.stanford.edu/insights/what-it-be-owned-warren-buffett https://www.gsb.stanford.edu/insights/what-it-be-owned-warre...: "The subsidiary chiefs also believe their companies’ performances are better under Berkshire (and even better than if they were stand-alone companies). Respondents point to Berkshire’s brand value and financial strength. Another reason? Berkshire lets CEOs focus on a longer performance horizon than they would expect under other ownership. Although each CEO varied on what that horizon would be, with estimates ranging from three years to 50, they all said Berkshire management encourages a long-term focus."
      • Riod 11y ago
        That's not a management philosophy? Berkshire Hathaway is notorious for being hands off. The corporate HQ has 20 people working in it. Buffett controls the money but the CEOs are free to run the business as they see fit.
        • robryan 11y ago
          Even by just taking control though they might be removing control from someone who wants to pump up the next quarters results.