Things Warren Buffett Says (Ethics)

Posted on November 16, 2011

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In 2008 Warren Buffet was named the world’s richest man by Forbes Magazine, with a net worth of 62 billion dollars. As investment child prodigy Buffett bought and leased land to farmers in his home state of Nebraska; after achieving wild success Buffett now searches for companies that have great potential, but lack leadership, financial capital, or some other anomaly that Buffet is sure to repair. Along the way from Omaha to Wall Street, as with most famous people, Buffet has written books, and given speeches to hopeful investors trying to capture part of Buffett’s success. Here are some of the things he said on ethics:
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Buffett
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.” Buffett
“Why not invest your assets in the companies you really like? As Mae West said, ‘Too much of a good thing can be wonderful’.” Buffett

A large part of Warren Buffett’s decision to buy and salvage a company depends on whether they are ethical. It is difficult to believe in an unethical company for the employees, investors and even Buffett the company could have skeletons in the closet that could hang the owner, and stakeholders alike. In “Thank you for smoking” the daily life of a fictitious big tobacco lobbyist is foretold as constantly dodging protests, justifying his job, and wondering why he wakes up in the Morning. Consider a company’s ethics in investing to minimize risk and at least lose money in a company that can make a difference.

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