Haha, that is one of his best quotes. Since his company is a holdings company, it operates a lot like a private equity fund. So a journalist asked him in a Q&A session what made Berkshire Hathaway different. He basically said that Berkshire was like a Smithsonian museum for businesses, and that if Berkshire bought your business it would last forever under its management, just like a museum piece would be preserved. However, he said that a private equity business is like the porn industry because they will take your business (which he compared to a painting of a woman), and enhance the breasts a little bit, and then sell your painting for more than they bought it for. He said that Berkshire is not in the business to resell businesses down the road.
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Tijs Limburg
Chairman and CTO of DMX - Digital Media eXceleron, Inc.
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On Thu, Sep 25, 2008 at 12:56 PM, Brendon Charles:
hey what does warren buffet have against private equity funds?
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b
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Tijs Limburg
Chairman and CTO of DMX - Digital Media eXceleron, Inc.
Get eXcited!
www.dmxed.com
Blogs:
http://phystrings.blogspot.com/
http://getoutofthedark.blogspot.com/
The "Don't Tread on Me" Flag: The First Navy Jack is enjoying renewed popularity these days thanks to an order from the Secretary of the Navy that directs all U.S. Navy ships to fly the First Navy Jack for the duration of the War on Terrorism.
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