Andrew Ross Sorkin

And then on top of that, he owns stakes in some of the biggest iconic companies, Coca-Cola, American Express, and he is the largest owner of Apple. Wow. And this one-time textile business, Berkshire Hathaway, becomes one of the largest companies in the world. And not only that... one of the largest companies in the world with the biggest cash balance sheets in the world.

And then on top of that, he owns stakes in some of the biggest iconic companies, Coca-Cola, American Express, and he is the largest owner of Apple. Wow. And this one-time textile business, Berkshire Hathaway, becomes one of the largest companies in the world. And not only that... one of the largest companies in the world with the biggest cash balance sheets in the world.

So if Burlington Northern is super profitable, he can take the cash that's coming off of that, and maybe he decides, I want to invest even more money in See's Candies. And so he's constantly able to sort of move the profits from one business to another. And he would tell you that his greatest...

So if Burlington Northern is super profitable, he can take the cash that's coming off of that, and maybe he decides, I want to invest even more money in See's Candies. And so he's constantly able to sort of move the profits from one business to another. And he would tell you that his greatest...

Talent is what he would call capital allocation, this idea that he is better at moving money and identifying where the next big opportunity is than just about anybody else.

Talent is what he would call capital allocation, this idea that he is better at moving money and identifying where the next big opportunity is than just about anybody else.

And the other thing is because his public thesis is that he's going to hold these businesses for a very long time, there are a lot of people who have been willing to sell him businesses at probably lower values than they would sell it to somebody else because they know that That he's genuinely trying to take care of these businesses, and he wants them to last as humanly possible.

And the other thing is because his public thesis is that he's going to hold these businesses for a very long time, there are a lot of people who have been willing to sell him businesses at probably lower values than they would sell it to somebody else because they know that That he's genuinely trying to take care of these businesses, and he wants them to last as humanly possible.

And he will hold on to these businesses, even businesses that are struggling, far longer than just about anybody else. And it's that long-term thinking that makes him so admired, but also the way he approaches his life.

And he will hold on to these businesses, even businesses that are struggling, far longer than just about anybody else. And it's that long-term thinking that makes him so admired, but also the way he approaches his life.

And, you know, you can write it off as sort of a folksy charm, but this is a guy who's worth something on the order now of $160-plus billion with a B, who is living in the same house that he bought in 1958 for $31,000. And up until just a couple of years ago, he would drive his own car to work. And he would go to McDonald's and go through the drive-thru like everybody else.

And, you know, you can write it off as sort of a folksy charm, but this is a guy who's worth something on the order now of $160-plus billion with a B, who is living in the same house that he bought in 1958 for $31,000. And up until just a couple of years ago, he would drive his own car to work. And he would go to McDonald's and go through the drive-thru like everybody else.

And so in an era of billionaires and yachts and homes and cars and planes and this and that, Warren Buffett has never been that. You know, at one point he actually did buy a private plane. What did he name his plane?

And so in an era of billionaires and yachts and homes and cars and planes and this and that, Warren Buffett has never been that. You know, at one point he actually did buy a private plane. What did he name his plane?

The Indefensible.

The Indefensible.

Exactly. And so it's that I think it's that ethos, that trust that's really allowed him to critique the system and to say things publicly aloud about the business world that often go unsaid and to identify where the charlatans really are in business. And that's really one of the things beyond being a great investor that's made him the conscious of capitalism.

Exactly. And so it's that I think it's that ethos, that trust that's really allowed him to critique the system and to say things publicly aloud about the business world that often go unsaid and to identify where the charlatans really are in business. And that's really one of the things beyond being a great investor that's made him the conscious of capitalism.

Look, he's really highlighted and pointed the finger at what he thinks of as the ills of the system. So he has spoken critically of Wall Street and Wall Street banks and bankers and this idea, for example, that the advice that they're offering you is necessarily good advice.

Look, he's really highlighted and pointed the finger at what he thinks of as the ills of the system. So he has spoken critically of Wall Street and Wall Street banks and bankers and this idea, for example, that the advice that they're offering you is necessarily good advice.