The Oracle of Omaha

Warren Buffett made good on a promise this week. Once a year he raffles a lunch to the highest bidder and gives the proceeds to charity. This year Zhao Danyang won the opportunity to have lunch with Warren Buffett at Smith and Wolinsky’s in New York City and it only cost him $2.1M.

I like reading about Mr. Buffett to see what I can learn. I’ve been following news stories about him since my days at Salomon Brothers when he was one of the primary stockholders. It was always news when he was in the building and everyone rushed to the auditorium at 7 World Trade Center to hear him speak.
What did I learn? Simple things really. He drove a used car, lived in a modest house and believed in saving for a rainy day. He held fast to his values despite his exorbitant wealth.

I was surrounded by big money when I worked at Salomon. In the summer, the limos would begin lining up in front of 7 World Trade starting around noon on Fridays, waiting to take the million dollar brokers to the Hamptons for the weekend. They had big cars, big money, big houses and big egos. Working in HR, I saw the compensation numbers – they were big! I also saw the other side: the burn out, the high divorce rate, the substance abuse and more.

So what’s this have to do with Mr. Buffett? He traveled in the same circles; he made even bigger money but had something that money couldn’t buy . . . . balance. Most of the folks thatheaded for the Hamptons are long gone now and sadly, so is 7 World Trade Center. Mr. Buffett survives. He had a two million dollar lunch Wednesday at Smith and Wolinsky’s.

Balance. . . it’s a beautiful thing.