ROB ROSE: Warren Buffett on why CEOs go rogue
For those battling to figure out why we’ve had the corporate scandals we’ve had, Berkshire Hathaway’s founder reckons it’s all about pride
There is something slavishly unbecoming in the almost messianic reverence some investors have for Warren Buffett. His annual newsletter, admittedly a rollicking read, is often treated as if it’s the long-lost commercial script of the Gnostic gospels, dug up in Omaha, by way of Nag Hammadi.
But then I suppose at 89 years old, with Berkshire Hathaway having produced an annual gain of 20.3% per year since 1965, perhaps you’re entitled to throw around wisdom and have fans write elaborate essays about your use of the word "independent".