When Warren Buffett began investing more than 60 years ago, he tended to buy mediocre businesses at mediocre prices.
Buffett's adviser: Charlie Munger, who is now 89 years old and Berkshire Hathaway's vice-chairman. Munger convinced Buffett, 83, to learn to "make silk purses out of silk." And that philosophy has turned out to be a key to the two men's extraordinary investing success.
"Forget the sow's ears," says Buffett, who applies the "silk purse" credo to all his relationships in life.>
Mellody Hobson has a slate of corporate board seats that many a star executive would envy: She is a director at Starbucks (SBUX), Estee Lauder (EL), Groupon (GRPN) and DreamWorks Animation (DWA). And while her day job is serving as president of Chicago-based Ariel Investments, Hobson is also non-executive chairman of DreamWorks—as well as one of CEO Jeffrey Katzenberg's most trusted advisors.
How did Hobson get such plum corporate gigs? For MOREPatricia Sellers - Nov 6, 2013 10:50 AM ET
The world's greatest investing duo talk about how they've helped each other exceed at investing--and life.
Warren Buffett and his lifelong investing partner Charlie Munger are rarely interviewed together except in front of 30,000-plus shareholders at the Berkshire Hathaway (BRKA) annual meeting in Omaha each spring.
So, my recent sit-down with the two investing legends was a special event.
The new issue of Fortune features Buffett, 83, and Munger, 89 and other super-successful MOREPatricia Sellers - Oct 31, 2013 11:50 AM ET
Warren Buffett and Glenn Close brought down the house at the opening of the Fortune Most Powerful Women Summit.
After Senator Susan Collins and IMF chief Christine Lagarde kicked off the 2013 Fortune Most Powerful Women Summit in Washington D.C. Tuesday night with grim views of the dangers of the U.S. government shutdown, actress Glenn Close lightened the mood in high style. Taking the MPW Summit stage to disclose that she's venturing into a new phase of MOREPatricia Sellers - Oct 16, 2013 6:23 AM ET
Warren Buffett likens the impasse in Washington to nuclear war. Out of this crisis, Americans should learn a great lesson, he says.Patricia Sellers - Oct 4, 2013 11:34 AM ET
FORTUNE -- Jeff Bezos' decision to buy the Washington Post isn't so surprising given that he has long seen the value of making money slowly. The Amazon.com (AMZN) founder and CEO built his $61.1 billion-a-year business by plowing short-term profits back into the business, restless investors be damned.
Way back in 1999, actually, Bezos displayed an interest in old-line industries. He was at Allen & Co.'s conference in Sun Valley, Idaho MOREPatricia Sellers - Aug 6, 2013 1:42 PM ET
Maybe Sheryl Sandberg really is building a new feminist movement.
Following the Facebook (FB) COO's PR extravaganza around her best-seller Lean In, the first mega-mover and shaker to join the conversation about women and work was Warren Buffett. The Berkshire Hathaway (BRKA) chief wrote an enlightening essay in the Fortune 500 issue, did his first-ever interview about women (with me), and joined Twitter to help spread his word globally.
This week, Sallie MOREPatricia Sellers - May 17, 2013 2:02 PM ET
Last week's interview with Warren Buffett on Women and Work featured a lot of memorable moments. The legendary investor's first Tweet -- the Tweet heard around the world -- was just one.
The most special moment for me, Buffett's interviewer, came when he answered this question from a University of Nebraska student: How do you define success?
"If people whom you want to have love you love you, you're a success," said MOREPatricia Sellers - May 7, 2013 1:37 PM ET
How do you collect more than one thousand Twitter followers per minute?
If you're Warren Buffett, all you need to do is send your first Tweet:
Warren is in the house.
— Warren Buffett (@WarrenBuffett) May 2, 2013
Fortune (and I) ushered the world's most famous investor into the digital age on Thursday. During my live video chat with the Berkshire Hathaway CEO, he joined Twitter and then sent a followup Tweet to promote his MOREPatricia Sellers - May 3, 2013 9:14 AM ET
Berkshire Hathaway CEO Warren Buffett will join Fortune for a very social conversation on women, work, and more.
FORTUNE -- Warren Buffett is going social.
This Thursday at noon EST, before he commences Berkshire Hathaway's (BRKA) annual meeting weekend, the billionaire investor will sit down for his first-ever interview that incorporates social media.
The topic is new for him too: "Warren Buffett on Women and Work...and other Wisdom."
The billionaire investor is doing the MOREPatricia Sellers - Apr 30, 2013 10:27 AM ET
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