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Billionaire's sage advice: Love what you do in life, find career that brings out your passion
By Paula Schleis
Beacon Journal business writer
Published on Wednesday, Nov 11, 2009
What would you ask Warren Buffett if you had his undivided attention?
That was no hypothetical situation for 27 University of Akron students, who spent Friday with the billionaire investor at his home base in Omaha, Neb.
''It was the opportunity of a lifetime,'' said business professor Todd Finkle, who led the contingent.
Finkle, an Omaha native himself, spent two years researching and writing a case study on Buffett and his investment company, Berkshire Hathaway.
He sent a copy of his paper to Buffett this summer and 10 days later, Buffett — who routinely meets with students about business, ethics and life — invited him to bring a group of students to town.
On Friday, the UA representatives were among 150 people from six schools who got to quiz Buffett, have lunch with him, pose for pictures, and tour a couple of Berkshire businesses.
During the Q&A, each school had the chance to ask three questions of Buffett. UA's queries included this one: Will the U.S. still be the superior economic power in 25 years, and if not, then who?
Buffett said the U.S. will still be the most economically important nation 25 years from now, just not by the same margin because the rest of the world is catching up, Finkle said.
It's just a matter of time before the rest of the world figures out how to unleash human talent as the U.S. did, Buffett was quoted saying.
And Americans shouldn't be fearful of emerging economies like China and India, because their growth and economic success is beneficial to our own economy as well as our national security, Finkle recounted.
Although Finkle considers himself a ''Buffett expert,'' he said he didn't know how Buffett would answer that question, but he was happy to hear the optimism.
Just as J.P. Morgan helped end the Great Depression by investing in America, Buffett — who last week spent $26 billion to acquire Texas-based railroad Burlington Northern Santa Fe — is showing faith in America during a troubled time, Finkle said.
''He's our equivalent of J.P. Morgan,'' Finkle said. ''He's right in the heart of what's going on, and he's still investing.''
After the question session, Buffett had lunch with the students, personally driving four of them to the restaurant in his own car. UA student Aniqa Feerasta was among them, having been selected by Finkle to represent Akron because earlier in the day, she'd been trapped in an elevator at Berkshire for 20 minutes.
After lunch, Buffett spent an hour on his feet posing for individual pictures. Finkle mused it must have been a tiring day for Buffett, who is 79, but he never showed anything but patience and good humor.
'Nicest guy'
''He's the nicest guy in the world,'' Finkle said. ''Very down to earth. Very humble, and he doesn't put himself above anybody.''
Kim Baitz, 26, said when she first learned Finkle was asking students to apply for a chance to go on the trip, she had just lost her job.
''I thought this was the perfect opportunity to meet the most intelligent man in the world in finances, and I thought it would be a good time to seek some guidance,'' said Baitz, who is pursuing her master's in business administration.
She took copious notes of advice from Buffett, but one thing that resounded with her was his belief in finding a career that brings out your passion.
''He goes to work happy every day, and so many of us go to work looking forward to the weekend,'' she said. Loving what you do is so much more important than making money, he advised.
Finkle said many comments made a deep impression on him as well, but one he'll never forget was in response to Finkle's own question about the most influential people in Buffett's life.
Among those Buffett named was a friend who was a Polish Jew, taken to a World War II concentration camp after an acquaintance reported the friend's hiding place to the Germans.
Buffett said ever since hearing that story, ''when he would begin friendships, he would ask the question: Would this person hide me from the Nazis?''
''He then went on to say that one of the most important things [if not the most important] was unconditional love. If you can find two or three people who love you unconditionally, you are a lucky person.''
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
What would you ask Warren Buffett if you had his undivided attention?
That was no hypothetical situation for 27 University of Akron students, who spent Friday with the billionaire investor at his home base in Omaha, Neb.
''It was the opportunity of a lifetime,'' said business professor Todd Finkle, who led the contingent.
Finkle, an Omaha native himself, spent two years researching and writing a case study on Buffett and his investment company, Berkshire Hathaway.
He sent a copy of his paper to Buffett this summer and 10 days later, Buffett — who routinely meets with students about business, ethics and life — invited him to bring a group of students to town.
On Friday, the UA representatives were among 150 people from six schools who got to quiz Buffett, have lunch with him, pose for pictures, and tour a couple of Berkshire businesses.
During the Q&A, each school had the chance to ask three questions of Buffett. UA's queries included this one: Will the U.S. still be the superior economic power in 25 years, and if not, then who?
Buffett said the U.S. will still be the most economically important nation 25 years from now, just not by the same margin because the rest of the world is catching up, Finkle said.
It's just a matter of time before the rest of the world figures out how to unleash human talent as the U.S. did, Buffett was quoted saying.
And Americans shouldn't be fearful of emerging economies like China and India, because their growth and economic success is beneficial to our own economy as well as our national security, Finkle recounted.
Although Finkle considers himself a ''Buffett expert,'' he said he didn't know how Buffett would answer that question, but he was happy to hear the optimism.
Just as J.P. Morgan helped end the Great Depression by investing in America, Buffett — who last week spent $26 billion to acquire Texas-based railroad Burlington Northern Santa Fe — is showing faith in America during a troubled time, Finkle said.
''He's our equivalent of J.P. Morgan,'' Finkle said. ''He's right in the heart of what's going on, and he's still investing.''
After the question session, Buffett had lunch with the students, personally driving four of them to the restaurant in his own car. UA student Aniqa Feerasta was among them, having been selected by Finkle to represent Akron because earlier in the day, she'd been trapped in an elevator at Berkshire for 20 minutes.
After lunch, Buffett spent an hour on his feet posing for individual pictures. Finkle mused it must have been a tiring day for Buffett, who is 79, but he never showed anything but patience and good humor.
'Nicest guy'
''He's the nicest guy in the world,'' Finkle said. ''Very down to earth. Very humble, and he doesn't put himself above anybody.''
Kim Baitz, 26, said when she first learned Finkle was asking students to apply for a chance to go on the trip, she had just lost her job.
''I thought this was the perfect opportunity to meet the most intelligent man in the world in finances, and I thought it would be a good time to seek some guidance,'' said Baitz, who is pursuing her master's in business administration.
She took copious notes of advice from Buffett, but one thing that resounded with her was his belief in finding a career that brings out your passion.
''He goes to work happy every day, and so many of us go to work looking forward to the weekend,'' she said. Loving what you do is so much more important than making money, he advised.
Finkle said many comments made a deep impression on him as well, but one he'll never forget was in response to Finkle's own question about the most influential people in Buffett's life.
Among those Buffett named was a friend who was a Polish Jew, taken to a World War II concentration camp after an acquaintance reported the friend's hiding place to the Germans.
Buffett said ever since hearing that story, ''when he would begin friendships, he would ask the question: Would this person hide me from the Nazis?''
''He then went on to say that one of the most important things [if not the most important] was unconditional love. If you can find two or three people who love you unconditionally, you are a lucky person.''
Paula Schleis can be reached at 330-996-3741 or pschleis@thebeaconjournal.com.
Comments
Click here to post your comments
Akron, OH
Posted 03:55 AM, 11/11/2009
Buffet is the truth. Glad Dr. T could hook that up.
MBA from UofA CBA, 2005
Posted 07:38 AM, 11/11/2009
That would have been a wonderful opportunity! I'm glad UA was represented.
UA 2008
Cuyahoga Falls, OH
Posted 08:14 AM, 11/11/2009
Buffett is pure genius when it comes to finance. His biography, 'Buffett: The Making of an American Capitalist' by Roger Lowenstein, is an excellent read.
Akron, Oh
Posted 08:30 AM, 11/11/2009
I went on the trip and it was def. worth my time. He was extremly humble and nice, and you could tell that he really enjoyed talking with young Grad students and future business owners. If you ever get a chance to meet him, do not pass it up.
Canal Fulton, Oh
Posted 09:31 AM, 11/11/2009
This was a great deal,glad the students got to do this.I have one problem with it however..(see no one is ever happy)..Why did he pick Aniqu feeresta just because she was stuck in an elevator for 20 minutes? I wouldve had to definitely rethink that one,considering who just shot up Ft.Hood.
Highland Square, OH
Posted 10:45 AM, 11/11/2009
peeebs, I don't even know how to respond to that
Richfield, OH
Posted 11:17 AM, 11/11/2009
Buffett is awesome and an example of what America is really about. Capitalism.
Beachwood, OH
Posted 03:13 PM, 11/11/2009
It doesn't get much better than Warren Buffett. He is an amazing person. It will be interesting to see what happens to those students.
Canal Fulton, Oh
Posted 03:17 PM, 11/11/2009
@UAEngineering... LOL..
@yid,they will graduate and not be able to find a job in their field.
Akron, Oh
Posted 07:27 PM, 11/11/2009
@ Peebs02 - About half of us who went run our own start-up companies, and the other half already have jobs with respectable companies. You sound a little angry and jealous.
Canal Fulton, Oh
Posted 10:47 AM, 11/12/2009
@Akronmba,
Yea,Im jealous,,ive worked and now retired(im 47).Hubbies retired too,32 years a firefighter.Luckily we dont need to work anymore..Angry? LOL NOT
