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Recommend Buffett Partnership Letters, Part 2 (Email)

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When you run money, you run people.  Unlike money, people make phone calls, write letters, send emails and basically toss more logs on the fire.  In the first few years of the partnership, Warren Buffet was only managing a few million dollars.  The beginning sentiment in his letters was one of a confident, yet cautious optimism.  A reading of the letters from 1963-1966 finds Warren Buffett a bit frustrated, albeit still very focused and successful.

It is refreshing to see that Mr. Buffett actually does have veins with red stuff in them.  He is not a money-making machine with total mastery of emotions at every human juncture.  At one point (and one that I appreciate more every year) he basically tells his investors, “If you don’t like the way I measure success, get out.”  Interesting that the partners question him after phenomenal year over year performances.

The principal of compounding became a frequent topic in the mid-year communications. Either we compound our money or figure out how to live longer is the sentiment. The clear point is, your money is going to have to go ahead of you and establish your future.


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