This week I read 5 chapters which include introduction of The Warren Buffet CEO,
Selection of Buffet CEO, The Administrator of GEICO Insurance (Tony Nicely), The Back-Up
Capital Allocator (Lou Simpson) and The Accidental Manager of Berkshire Hathaway (Ajit
Jain).
In chapter one I learnt about the importance and contribution of all the operating managers
who are part of Berkshire Hathaway, of course, along with Warren Buffet playing the most
significant role inside this huge corporation. Berkshire Hathaway is mostly known for
partly owned businesses like Coca-Cola or Gillete and this chapter talks about the
perspective of focusing on the CEOs and businesses that are owned in their entirety. This
chapter discusses possible future of the corporation after Buffet’s retirement and permitted
and encouraged team with the unique ability to focus on completely internal affairs and
success of their business without outside distractions. It notes that we should not expect
elaborate business strategies or shocking stories, giving simple principles of the business
and management.
“How does someone become a Buffet CEO?” The second chapter talks about the selection
process of Buffet CEO including important Berkshire’s acquisition beliefs, objectives and
method that is a capitalist’s dream. It states six important criteria that have been published
in Berkshire annual report. It notes that the most perfect way for Buffer when an interested
CEO who meets all the criteria answers the phone and calls him directly. It tells how to
purchase for toadlike (resembling) prices, buying them at excellent prices whether they
supply total ownership of a business or marketable securities representing small portions
