Last month, 20 UCLA AndersonSchool of Management students, members of the Anderson Student Asset Management Fund, Student Investment Fund and the Anderson Investment Association journeyed to Omaha, Nebraska to meet Warren Buffett.
The Anderson crew, students from six other American universities and a group of Brazilian business students met Mr. Buffet at the Berkshire Hathaway’s headquarters tucked away on the 15th floor of the Keiwit Building.Once the Oracle of Omaha entered, a two-hour question and answer began. Mr. Buffett explained his philosophy of investing in simple, undervalued firms with solid operations and management teams, and described his hands-off management style.
He also described how Berkshire Hathaway’s size has led him and his long-time business partner and friend, Charlie Munger, to “hunt for elephants.” This means searching out deals in excess of $1 billion because smaller and more appealing deals do not always provide significant returns to his investors.
Mr. Buffet also shared a more human side, discussing certain personal and social topics like as philanthropy and his rejection of brazen and boisterous lifestyles of the wealthy.
Aspiring MBAs reflecting on the experience upon their return to California felt held true to these words of wisdom from Buffet: “Follow your passion, work for a company you admire, surround yourself with people you love and who love you back.”
