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02-05-2013, 12:08 PM
the difference here is that, IBM is not wholly owned by Buffett. As such in order for him to get a good deal in the business, he have to buy a business he likes. And for him, it has always been working with great capital allocators or operations people. from the brazilians in the heinz deal to IBM's manangement culture, which for me is a moat not the management.
a good culture self corrects missteps. I wonder if buffett is on the board of ibm. i think not.
for such a large holding in berkshire, and for a decentralized operation like berkshire that proves much autonomy, the manager have to be good.
a good culture self corrects missteps. I wonder if buffett is on the board of ibm. i think not.
for such a large holding in berkshire, and for a decentralized operation like berkshire that proves much autonomy, the manager have to be good.
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