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Business

Berkshire Notes

Over on Tom Brown’s Bankstocks.com, Matt Stichnoth does a nice job of taking notes from last weekend’s Berkshire Hathaway annual meeting. Words of wisdom from Warren Buffett:

Rule #1: Don’t run up charge card debt. That’s the first thing I tell students when I talk to them, and I tell them that if you remember nothing else, remember that.

What’s the best indicator of future success? How early in life you start your own business. A lot of success is based on your wiring—and a lot is based on how you work with the wiring you have. At Berkshire, our managers tend to have the right wiring. Some of them never say anything dumb about business. It’s wiring, and it’s temperament. You want to bet on those people.