Thursday, April 24, 2008

Warren Buffet on how he looks at acquisition

We continue, however to need "elephants" in order for us to use Berkshire’s flood of incoming cash. Charlie and I must therefore ignore the pursuit of mice and focus our acquisition efforts on much bigger game.

Our exemplar is the older man who crashed his grocery cart into that of a much younger fellow while both were shopping. The elderly man explained apologetically that he had lost track of his wife and was preoccupied searching for her. His new acquaintance said that by coincidence his wife had also wandered off and suggested that it might be more efficient if they jointly looked for the two women. Agreeing, the older man asked his new companion what his wife looked like. "She’s a gorgeous blonde," the fellow answered, "with a body that would cause a bishop to go through a stained glass window, and she’s wearing tight white shorts. How about yours?" The senior citizen wasted no words: "Forget her, we’ll look for yours."

What we are looking for is described on page 25. If you have an acquisition candidate that fits,call me - day or night. And then watch me shatter a stained glass window.

Sourced from here

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