I’ve been seeing evidence of this elsewhere, but this writer makes it so clear:
Charlie and Warren realized this ages before it dawned on anyone else. They did not own Enron or Global crossing or any the other of CNBC’s favorite disasters. This was not a coincidence and has nothing to do with luck. To those asking advice about investing, I suggest that you forget the CFA forget the MBA buy one “B” share and start going to the annual meetings. You will learn things that they do not teach anyplace else.