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March 04, 2009

Why bookofjoe is like Berkshire Hathaway

Last night while reading Warren Buffett's annual letter to shareholders, I happened on the following on page 24 in the "Acquisition Criteria" section: "We can promise complete confidentiality and a very fast answer — customarily within five minutes — as to whether we’re interested."

We're even better here: not only do I offer complete confidentiality but also I know within five seconds whether or not something interests me.

Sentence first, verdict afterward — worked fine then, even better now.

Of course, me knowing isn't the same as you finding out; for that, I invoke Buffett again, to wit: "Charlie [Munger] and I frequently get approached about acquisitions that don't come close to meeting our tests: We've found that if you advertise an interest in buying collies, a lot of people will call hoping to sell you their cocker spaniels. A line from a country song expresses our feeling... — If the phone don't ring, you'll know it's me."

March 4, 2009 at 12:01 PM | Permalink


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Comments

Wow, in Rocket's version, at 1:59 it looks exactly like the last migraine aura I had. A real doozy.

Posted by: Flautist | Mar 4, 2009 7:31:44 PM

I'll take this version myself...
http://www.youtube.com/watch?v=2e7kjmb3Ees

And hey, sometimes, what someone is asking for is not what they really want. It's up to you to convince them otherwise.

Posted by: Rocketboy | Mar 4, 2009 6:33:32 PM

You pegged it.

Posted by: Milena | Mar 4, 2009 2:42:13 PM

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