Remember those “What Would Jesus Do” braclets?
People wear those to remind themselves what’s really important when there are life-altering decisions to be made, especially kids.
Go out carousing with your friends?
Psst—wanna smoke some pot?
I’ve got no problem with that, because kids need any help they can get to keep their moral compass pointed North.
Grown-ups do, too.
Investors need a compass, too—and many like to look at what Warren Buffet does at Berkshire Hathaway. Wonder if anyone’s come out with WWWD bracelets—“What Would Warren Do?”
Over the weekend the Woodstock for Investors was held in Omaha, where Buffet and Berkshire are based. What will Warren be doing in the future? Investing in businesses that earn their money in the euro, or in companies that derive their earnings in Germany, or from the UK Sterling. Buffet doesn’t feel that those currencies are going to depreciate in a big way against the dollar. One Berkshire unit is reportedly close to buying a midsize company in the U.K., and later this month, Mr. Buffett will be touring five European cities, sniffing out more buying opportunities.
What wouldn’t Warren do?
Repeat the past.
Buffet told investors, "anyone who expects us to come close to replicating the past should sell their stock. It's not gonna happen," he said. "You may have something better to do with your money than buy Berkshire."