by Eric
On Friday,
October 21, twenty lucky MBA students from the Carroll School of
Management's full-time and part-time programs were once again treated to
a day with Warren Buffett. I was fortunate enough to be amongst this
bunch. Our itinerary included a question and answer session with Mr.
Buffett that ran for well over two hours and a leisurely lunch at
Omaha’s family-run Piccolo Pete’s Restaurant.
Prior to the
trip, I already had a great respect for Mr. Buffett’s prudent investment
strategies, strong sense of business ethics, and commendable commitment
to philanthropy – but in all honesty, I had no idea as to what kind of
personal impression the man behind the headlines would make on me
throughout the day. That said, I am delighted to report that Mr. Buffett
exceeded all conceivable expectations. Humble, gracious, approachable,
and surprisingly bawdy are just a few of the adjectives to describe this
celebrated business man. While many of the questions addressed to Mr.
Buffett related to his views on investing and the current economic state
of the country and the world as a whole, he made a conscious effort not
to turn our short time together into a master class in finance, but
rather used the opportunity to share with us his high-level, yet
personal insights on life, love, professional and personal success, and
patriotism. Think Wall Street meets Tuesdays with Morrie.
Below are just a few of the insights he shared with us that Thursday. I
warn you – these nuggets of wisdom are not the typical sound bites you
get by scanning The Wall Street Journal or The Financial Times.
- On Careers:
“Work for whomever you admire the most.” Upon hearing this, a record
number of Harvard Business School graduates decided to become
self-employed.
- On Business Practices:
“You might not remember the exact price of the product from when you
bought it, but you’ll probably remember how you were treated when you
bought it.”
- On Marriage: “They always tell you to marry someone for his or her intelligence. Warmth. Sense of humor. Here’s some advice - just look for someone with low expectations if you want a marriage that will last.”
- On Human Rights: “I am a firm believer in equality of opportunity and inequality of results.”
- On Words to Live By: “A
bell's not a bell 'til you ring it / A song's not a song 'til you sing
it / Love in your heart wasn't put there to stay / Love isn't Love till
you give it away.” ~ lyricist, Oscar Hammerstein II
Following this
candid and memorable question and answer session, we all joined Mr.
Buffett for a luncheon at Piccolo Pete’s, an unassuming establishment
that you would think you had a better chance of running into the Food
Network’s Guy Fieri in than one of the world’s richest men. Simple fare;
hospitable service – it should no longer be shocking that this is one
of Mr. Buffett’s favorite local restaurants. It was possibly most
endearing to witness Mr. Buffett’s warm interactions with the
restaurants’ set of regulars and wait staff. Clearly, everyone in this
town rightfully adores their most celebrated citizen. This was possibly
most evident at the end of our meal when each of us received dessert –
Mr. Buffett’s favorite, a root beer float that was once featured in Fortune - with the largest glass placed in front of the big cheese, himself.
Following
lunch, Mr. Buffett joined us in the parking lot for a casual photo
session, granting every student on the trip an opportunity to pose with
him in anyway they’d like. Props welcomed! No wonder I loved this guy –
he has a clear appreciation for theatrical flair. For my photo op, a
friend of mine created a faux New York Times
article where Mr. Buffett agrees to produce my latest musical…with one
caveat…he gets the lead. Without missing a beat, Mr. Buffett agreed to
take 15% of the box office. I’ll have to consult with my business law
professor to confirm how binding verbal contracts are!
See below for photos from this once-in-a-lifetime weekend. Also check out a copy of the aforementioned New York Times article.
 |
| Piccolo's - "Where everybody knows your name" - at least they do if you're Warren Buffett. |
 |
| Group photo in the parking lot across from Piccolo's |
 |
| Dinner on the first night in Omaha |
