May 23, 2003

Jack Covert Selects: Jack Covert Selects - The Warren Buffett CEO

By: 800-CEO-READ @ 4:10 PM – Filed under: Management & Workplace Culture Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers by Robert P. Miles, John Wiley & Sons, 400 Pages, $16.95 Paperback, May 2003, ISBN 0471430455
I know about Buffett and Berkshire Hathaway. I know that if you bought $100 worth of stock in the 1960s, you would be incredibly rich right now. Yes, thats nice to know and fun to contemplate, but it isnt something that seems too relevant to me right now. However, Robert Miles has made it all relevant to todays business world. He has looked at the businesses in Berkshire Hathaway, personally met with 20 CEOs, and then shows us why Buffett has been so successful. We discover it is Buffetts leadership style and his uncanny eye for a good investment. As is stated in the preface:
This book isnt a How to invest Like Warren Buffett. Instead, it introduces the managers who are running the businesses that Buffett has invested in. As you read these chapters, youll learn about the different families and the beginnings of some interesting and successful businesses. Youll also learn some management and investment tenets from some of the most respected CEOs around.
People who have gotten JCSs in the past know that I love books that I call airplane reads. An airplane read is a book that you can read during a two to three hour plane ride. This is an airplane read with heft. This is a book that you will carry in your briefcase or have on your nightstandas I havefor a long time.
You will read about Jordans, a New England furniture store. Comparing Jordans to a furniture store is like comparing Disney World to a county fair. You will meet the third generation owners and discover what makes them special. Buffett calls them Shoppertainers.
In the closing section, Miles has a section called Berkshire Post-Buffett which includes a memo from Buffett to Berkshire Hathaway Managers dated 8-2-00. That memo spoke volumes to me because of Buffetts real world, practical corporate view. I now understand why this man is so well respected. Read this book to learn like I did why Warren Buffett is a remarkable and exceptional person.