Poignant Moment

That was a touching moment this afternoon when Warren Buffett mentioned that he’d be stepping down as CEO of Berkshire Hathaway. As you probably know by now, the gathered throngs in the auditorium broke into a sustained standing ovation. Richly deserved.

In these “transactional” times it’s comforting to know that Buffett's disciplined approach to investing still shines brightly. (He’s ahead of the S and P 500 year-to-date.)

Valuing character in business associates, doing diligent and careful research, taking the long view, and being patient are key components of his timeless wisdom that results in sustainable success. Also, it’s important to stay calm and focused especially when facing inevitable headwinds and setbacks.

I noticed today that Buffett remains a humble guy. He talked about how Apple’s Tim Cook has made more money for Berkshire than he has.

I’m certainly no expert but my guess is Berkshire will continue to do just fine. The culture at his (lean) corporate office in Omaha has deep roots.

We’re lucky that there are volumes of Buffett’s writings that stand up to multiple re-readings. And I imagine he’ll continue to educate us with his decades of experience and wisdom. He’s used the phrase “tap dancing to work.” Hopefully that continues for a while.