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How Warren Buffett Turned Berkshire Hathaway Into a Capital Allocation Machine
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How Warren Buffett Turned Berkshire Hathaway Into a Capital Allocation Machine
An investing confession is worth making at the outset: Warren Buffett changed less at the level of temperament over the last seventy years than most people think. What changed was the machine around him. The financial media treats Berkshire Hathaway like an overgrown mutual fund with a folksy grandfather at the helm. We are fed an endless loop of stories about a quiet office in Omaha, a desk stacked with annual reports, and a compounding curve b…
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