We don’t usually have much fun here at Weakonomics. Okay, actually I have a lot of fun and don’t care if you do or don’t. But I want everyone to have fun today.
As everyone should know, Warren Buffett is considered the most successful investor of the 20th century. Through his company, Berkshire Hathaway, he owns tons of stock in well known companies such as Wells Fargo, American Express, Washington Post, Coca Cola, and Kraft. But Hathaway also owns a number of privately held companies, and these are wholly owned. Those names include Fruit of the Loom, Russel Clothing, and GEICO.
Hathaway has owned GEICO for as long as they’ve made interesting commercials. Some may be annoying, but there is no denying that GEICO’s advertising success is the stuff for textbooks. Buffett has been known to say he only buys things he understands, which is why he owns a lot of well known companies in consumer-based businesses. But what he hasn’t said is how he remains involved in the companies he’s purchased. For years, he’s participated in an employee produced video for GEICO. And this year, the employees took his role to an extreme. Please enjoy:
Now if they could only get him to throw in $10 million for a renovation of their offices. Being near DC I’ve seen GEICO corporate headquarters. Dismal building.
Hat tip to @jodiecongirl for the link.
 By The Weakonomist |
The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice. |
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LOL. Good stuff. I thought he was going to be inside the mascot.