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July 2008

After Warren Buffett, who ?

By Raman Jokhakar, Tarunkumar Singhal, Chartered Accountants
Reading Time 1 mins
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46 After Warren Buffett, who ?



Warren Buffett speaks

At the 1996 annual meeting, an investor asked what would
happen to Berkshire Hathaway if Buffett were to get hit by a truck. The question
pops up more often than toast at breakfast. “I usually say I feel sorry for the
truck,” Buffett sometimes quips. Over the years he’s tried various come backs.


1985 : In an article about Berkshire’s long-term
commitment to the company it acquires, Buffett noted : “The managers have a
corporate commitment and therefore need not worry if my personal participation
in Berkshire’s affair ends prematurely” (A term I define as any age short of
three digits.)

1986 : “This is the proverbial ‘truck’ question that I
get asked every year. If I get run over by a truck today, Charlie (Munger) would
run the business, and no Berkshire stock would need to be sold. Investments
would continue.”

Also, Buffett surmised that the stock might “move up a
quarter or a half point on the day that I go. I’ll be disappointed if it goes up
a lot.”

(Source : The Times of India, 25-5-2008)

 

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