The Warren Buffett CEO: Secrets of the Berkshire Hathaway Managers (Hardcover)

~ (Author), Tom Osborne (Author) "How does someone become a Buffet CEO?..." (more)
Key Phrases: operational successor, durable competitive advantage, operating managers, Warren Buffett, Berkshire Hathaway, Scott Fetzer (more...)

Editorial Reviews

Product Description

" Everyone knows Warren is the greatest investor of our time. . . .This book for the first time captures his genius as a manager." --Jack Welch

"Robert Miles clearly understands the company well." –-Warren Buffett

Much has been written about Warren Buffett and the philosophy that made him the most successful investor in history, yet nothing–until now–has been written about his role as manager of the diverse companies under Berkshire Hathaways ownership.

Berkshire Hathaway expert Robert Miles explores the hands-off management style that has proven successful for both Buffett and Berkshire Hathaway. Including rare interviews with executives who run the companies within Berkshire Hathaway holdings, The Warren Buffett CEO provides a unique insiders perspective from managers such as:

• Lou Simpson and Tony Nicely, Presidents and CEOs of Capital Operations and Operations, respectively, Geico
• Ajit Jain, President, Berkshire Hathaway Reinsurance Group
• Richard Santulli, President and CEO, ExecutiveJet

Besides revealing the successful management style of the powerhouse holding company known as Berkshire Hathaway, The Warren Buffett CEO sheds light on the companys future as well as on who will succeed the "Oracle of Omaha" when he steps down. You may never get to work with Warren Buffett, but in reading The Warren Buffett CEO you will understand what it is like to work for "the best boss in the world."

With a foreword by Tom Osborne, US Congressman and Former University of Nebraska Head Football Coach

From the Inside Flap

The success of Warren Buffett and Berkshire Hathaway, Inc., is legendary. Yet to understand this success, you must go below the surface to see how the hands-off management style of Berkshire Hathaway allows its acquisitions to grow exponentially. The Warren Buffett CEO provides a rare up-close and personal view of nearly twenty operating managers within Berkshire Hathaway—owned companies.

Through interviews with key executives from these companies, Berkshire Hathaway expert Robert Miles offers a fascinating look at how the CEOs of Berkshire Hathaway subsidiaries are managed. Along with candid revelations about their relationships with "the best boss in the world"–these executives shed light on who Buffett might choose to succeed him and how the management structure of Berkshire Hathaway will change once he is gone.

The Warren Buffett CEO begins with the foundation of this powerhouse holding company–the insurers. Ajit Jain shares his experiences as head of the fifteen-member team that is Berkshire Hathaway Reinsurance Group and talks about the management knowledge he has gleaned from Buffett. The two presidents and CEOs of GEICO, Tony Nicely and Lou Simpson, explain how they manage 18,000 employees and the GEICO $2.5 billion equity portfolio, with no interference from Berkshire Hathaway, while setting a management model that will likely be followed after Buffett retires–one CEO manages operations, the other CEO manages investments.

This comprehensive book is as diverse as the holdings of Berkshire Hathaway. The Warren Buffett CEO includes rare interviews with Berkshire Hathaway CEOs . . .

• Al Ueltschi, founder and CEO of FlightSafety International
• Stan Lipsey, publisher and CEO of the Buffalo News
• Chuck Huggins, CEO of See’s Candies, Inc.
• Richard Santulli, CEO of ExecutiveJet

. . . that reveal the secrets of Berkshire Hathaway management: a passion for the business–not the money–and a philosophy of succeeding without compromising your principles.

The Warren Buffett CEO explores the history of Berkshire Hathaway subsidiaries and how the different styles of their managers mesh with Buffett’s. Miles follows the entire acquisition process and details the excitement of CEOs who see Berkshire Hathaway as being beneficial from both a financial and managerial standpoint. Examples such as Nebraska Furniture Mart, H.H. Brown Shoe Co., Scott Fetzer Companies, and Helzberg Diamonds illustrate how each Berkshire Hathaway company has the characteristics of a classic Buffett investment and how Buffett prefers a wholly owned company with a management team already in place.

To better understand his investment approach, Buffett himself has said, you should look at his operating managers and companies. The Warren Buffett CEO does this and much more. By examining the top CEOs within Berkshire Hathaway subsidiaries, you’ll understand how these executives succeed inside Berkshire Hathaway and how, year after year, they produce unparalleled profits under Warren Buffett’s guidance.

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Product Details

• Hardcover: 308 pages
• Publisher: Wiley; 1st edition (October 15, 2001)
• Language: English
• ISBN-10: 0471442593
• ISBN-13: 978-0471442592
• Product Dimensions: 8.9 x 6.2 x 1.3 inches
• Shipping Weight: 1.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (24 customer reviews)
• Amazon.com Sales Rank: #299,362 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

3.0 out of 5 stars This book is OK but not great, June 6, 2002

By A Customer

Not too many secrets are revealed in this book as the title implies. The chapter on Lou Simpson is great! The rest of the book is only mildly interesting. This book is worth reading but probably only for Berkshire enthusiasts.

6 of 6 people found the following review helpful:

3.0 out of 5 stars Tapestry of How Buffett Thinks About People, May 24, 2002

By	"mhughsam" (Toronto, Canada) - See all my reviews

If you own Berkshire Hathaway, it is worthwhile to buy this book. After reading it, you will be incredibly impressed by the all star managers (business boy scouts) Buffett has working for him. And you will never have to worry again about what happens after Buffett (may this not happen during my lifetime).

By piecing together the various aspects of the individuals, you'll begin to understand the type of people Buffett finds "honest and competent." One of the harder aspects of investing is evaluating management--this is an insight into how Buffett thinks about business people.

For the investor, the section on Lou Simpson (since so little is written) might be worth the price of admission.

However, there are many investment books I'd read before this one.

5 of 5 people found the following review helpful:

5.0 out of 5 stars Great book about the inner workings of BRK, May 13, 2003

By	D. J Najarian (New Jersey) - See all my reviews (REAL NAME)

Skim through the back of the 2002 annual report, and you'll see a list of the dozens of operating subsidiary companies within Berkshire. To my knowledge, this book covers the managers of these companies in more depth than any other book. It is essential to learn about these managers because among them will be chosen the successors of Mr. Buffett. Personally, reading this book gives me confidence in the future of Berkshire in the post-Buffett/Munger era. I especially liked the chapter on Ajit Jain, who has not been covered by other books. This book is an absolute must read for those planning on holding their Berkshire shares forever.