"My managerial model is Eddie Bennett, who was a batboy. In 1919, at age 19, Eddie began his work with the Chicago White Sox, who that year went to the World Series. The next year, Eddie switched to the Brooklyn Dodgers, and they, too, won their league title. Our hero, however, smelled trouble. Changing boroughs, he joined the Yankees in 1921, and they promptly won their first pennant in history."
"To be a winner, work with winners. In 1927, for example, Eddie received $700 for the one-eighth World Series share voted him by the legendary Yankee team of Ruth and Gehrig. This sum, which Eddie earned by working only four days (because New York swept the Series) was roughly equal to the full-year pay then earned by batboys."
"I've learned from Eddie. At Berkshire, I regularly hand bats to many of the heaviest hitters in American business."
"Buffett doesn't just study companies to spot opportunities. He also works to identify companies with leaders capable of seizing, and then building on, their potential."
Warren Buffett's investment philosophies are encapsulated in four key insights, focusing on leadership, concentration, personal investment, and success. He uses the example of Eddie Bennett, a batboy, to illustrate that effective management involves collaborating with successful individuals. Buffett believes that identifying capable leaders is crucial for business growth. His approach to investing is not just about financial metrics but also about the quality of leadership within companies. This perspective shapes his overall strategy and understanding of success in the business world.
Read at Fast Company
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