The Daily What Warren Buffett Understood About Capitalism
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May 7, 2025 
Andrew Ross Sorkin, a renowned columnist and founder of DealBook, delves into Warren Buffett's remarkable legacy following his retirement as CEO of Berkshire Hathaway. They discuss Buffett's dual role as both a symbol and critic of American capitalism. Highlights include his philosophy of long-term investing, emphasis on ethical practices, and candid critiques of Wall Street. Sorkin shares poignant reflections from the Berkshire Hathaway annual meeting, capturing the emotional landscape left by Buffett’s exit and his profound impact on investors and the concept of ethical capitalism.
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Berkshire's Annual Meeting Anecdote
- Every year, about 40,000 people from all over the world attend Berkshire Hathaway's annual meeting in Omaha.
- This gathering is known as "Woodstock for capitalists" and includes diverse attendees from 14-year-olds to grandparents.
Buffett's Unique Investment Success
- Warren Buffett turned a $100 investment in 1965 into $2.8 million today.
- This record makes him a uniquely trusted figure in investing and capital markets.
Buffett: Conscience of Capitalism
- Warren Buffett is less an avatar of capitalism and more its conscience, embodying both success and critique.
- He balances embracing capitalism with highlighting its moral challenges and flaws.