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Charlie Tian
Charlie Tian

When Will Warren Retire?

March 16, 2007 | About:

Warren Buffett is seeking a successor for his investment! He found Bill Gates to spend his money and another young fellow to run Berkshire Hathaway. He needs the third one to look after his investments.

Interested? Sent you resume? Why not! The salary is maybe comparable to Warren’s, but learning from the world’s best investor will be more rewarding than anything else, considering a lunch with him is worth more than $600,000.

Ready to take over? Not so fast. Did you see Warren tap-dance to work this morning? “At 76, I feel terrific and, according to all measurable indicators, am in excellent health.” Said Warren. Indeed, did you even see a sign of decay from him? Look how fast he talks and how quick his reactions are. A few years ago during an annual shareholder meeting, while he was signing a book for someone, a lady at his back said: “Mr. Buffett, actually my dad bought Berkshire stocks earlier than you did.” Without raising his head, he said: “Ask him to give me a call if he finds an idea like this next time.” At 76, the brains of most of people are fried, not Warren.

So when will Warren Buffett really retire? When I thought of this question, 3 people came up into my mind, Charlie Munger, Martin Whitman, and sir John Templeton. Compared with these three, Warren is just a little brother.

Charlie Munger, Warren Buffett’s long time partner and Vice Chairman of Berkshire Hathaway, is running Wesco Financial at 83. “Charlie is a wonder at 82,” wrote Warren Buffett last year.

Martin Whitman, who started his mutual fund at the age of 60, is now 82. He writes one of the best shareholders, too. Reading his letter may not be as fun as reading Warren Buffett’s, but you can learn just as much. I strongly urge you to read his shareholder letters. You will not only learn from them, you will also enjoy Martin Whitman’s rationality and wisdom. He just named his successor. Is he retiring? See how he finished his last letter, which was released just yesterday, “ I will write to you again when the report for the period to end April 30, 2007 is published.”

Sir John Templeton, arguably the greatest global stock picker of the century, began investing in the 1930s at the age of 20s, he is now 93. He said in an interview last year, "I have observed in 92 years that the people who are most diligent in working do live many years longer than those who are lazy." He cannot even utter the "R" word…retirement. In fact, he has thought of writing a book called "Never Retire."

Yes, Never Retire!


About the author:

Charlie Tian
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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