In a press release this afternoon, The Washington Post announced that Warren Buffett will not be a candidate for re-election to the company’s Board of Directors. His current term expires in May. Mr. Buffett joined the board in 1974 after building a significant stake in the company and has served for nearly 30 years, with a 8 year break when he became a director of Capital Cities. Please read this article for more information.
Berkshire Hathaway Vice Chairman Charlie Munger has often advocated the practice of “making friends with the eminent dead who had the right ideas.” This concept may initially sound strange, but it is based on the belief that it is a mistake to fail to learn from the life and experiences of others who have had success in business and in life, and particularly those who have succeeded despitesignificant adversity. It is in this spirit that I decided to read Personal History, the Pulitzer Prize winning memoirs of Katharine Graham, the longtime leader of the Washington Post. Read this article for a review of the book.