Alan Stein Discusses Warren Buffett

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Jul 12, 2009
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Found this really good story in www.kentucky.com entitled "Legends' Stein takes after tycoon".


It discusses Warren Buffett's interaction with baseball team Lexington Legends's principal owners Alan Stein and William Shea. Buffett has been a minority investor in the Omaha baseball franchise since 1991.


These are some comments of Alan Stein about Warren Buffett:
No, Stein said, Buffett does not give him stock tips.


"In specific terms, no," Stein said. "But his insights about business and the economy are often dead on, and you can gather from his insights the direction you ought to be thinking about going. He really is a fascinating guy. And he's smart."


As an investor, Buffett is famous for buying only companies whose workings he understands thoroughly.

"The thing about Warren, he really pays attention," Stein said. "He knows our business through and through."


Does Buffett make suggestions on how to best run a minor-league baseball franchise?


"No," Stein said. "He wants to be informed and he pays very close attention, and he is very quick to tell me what we are doing right."


In dealing with Buffett, "he is exactly as he appears on TV and in his books," Stein said. "He is very genial, down-to-earth. When you deal with him, he's just a regular guy."


What a guy! I mean, Warren Buffett.


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