Tuesday, May 25, 2010

Buffett Scandals - Then and Now

This was an interesting piece for me to write. I've long admired Buffett, and I wasn't entirely sure it was a project I wanted when it was first suggested to me. Now that I've written it, though, I find it interesting to see that Mr. Buffett really has kept his nose clean for the most part. What controversies there have been have largely been due to the actions of other people. To his great credit, though, Buffett seems to realize that when you sit in the big chair, you take the credit *AND* the blame when things go wrong, whether you have much to do with matters or not. A lot of CEOs should learn from that example. 

It is a peculiar American trait that we celebrate stories about the "land of opportunity," yet we also take a perverse pleasure in plastering bulls eyes to the backsides of the very wealthy. As one of the wealthiest people in the world, it is no surprise that the much-heralded investor Warren Buffett has had his share of controversies over the years.

The latest PR crisis for the Berkshire Hathaway (NYSE:BRK.A) CEO is his investment in Goldman Sachs (NYSE:GS) and his ongoing public support for the company and its management.

No one has thus far accused Buffett of any wrongdoing, beyond continuing to support a management team that is quite unpopular at present.

For the full article, please continue to: http://financialedge.investopedia.com/financial-edge/0510/Buffett-Scandals-Then-And-Now.aspx

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