Home World Warren Buffett wisdom from French philosopher in shareholder letter –'Servant of heart'

Warren Buffett wisdom from French philosopher in shareholder letter –'Servant of heart'

0


The 90-year-old, dubbed the ‘Oracle of Omaha’, is known for shrewd investment and offering astute advice. His remarks in a 1985 Berkshire Hathaway shareholder letter have resurfaced – which include a quote from 19th Century French philosopher Auguste Comte. In the letter, Mr Buffett outlines his decision to move on from Berkshire’s failing textile businesses.

Comte lived from 1798 to 1857 and is known for his impact on the field of sociology.

In the letter, Mr Buffet wrote: “I ignored Comte’s advice – ‘the intellect should be the servant of the heart, but not its slave’ – and believed what I preferred to believe.”

On Saturday, the billionaire reached a new milestone after his net worth exceeded $100 billion (£72bn).

Berkshire Hathaway’s record profits catapulted him to the so-called 100 billion dollar club.

Others on the include SpaceX CEO Elon Musk, Microsoft co-founder Bill Gates and Amazon founder Jeff Bezos.

Berkshire’s Class A stock reached a record high profit of $339,650 (£224,000) when shares closed on Wednesday.

Mr Buffett currently controls a 38 percent share in the company which owns major brands such as Fruit of the Loom and Duracell.

The billionaire took control of Berkshire Hathaway in 1965 when it was a failing textile firm.



LEAVE A REPLY

Please enter your comment!
Please enter your name here