The person Buffett would have hired to manage his money

[netnet]

From one cultist, me, to all you out there, here is an interesting tidbit from the WSJ and CNBC:

 

By Nicole Friedman

Feb 28, 2017 12:36 pm ET

5 COMMENTS

 

Warren Buffett told CNBC on Monday that if he’d had to pick one person to manage his money, it would have been a “fella you never heard of: Herb Wolf.”

 

Who is Herb Wolf?

 

According to Alice Schroeder’s biography “The Snowball: Warren Buffett and the Business of Life,” Mr. Wolf was a friend of Mr. Buffett’s who worked at New York Hanseatic, an over-the-counter trading house. They met in the 1950s after Mr. Wolf read an article Mr. Buffett had written in the Commercial & Financial Chronicle.

 

Here is Mr. Buffett’s memory of Mr. Wolf, as quoted in the book:

 

    “Herb Wolf was one of the smartest guys I ever met. He could tell the effect on American Water Works’ earnings if somebody took a bath in Hackensack, New Jersey. He was unbelievable. One day Herb said to me, ‘Warren, if you’re looking for a gold needle in a haystack of gold, it’s not better to find the gold needle.’ I had this thing that the more obscure something was, the better I liked it. I thought it was a treasure hunt. Herb got me out of that way of thinking. I loved that guy.”

 

Mr. Wolf died years ago, according to Mr. Buffett’s assistant, Debbie Bosanek.

[Guest longinvestor]

From one cultist, me, to all you out there, here is an interesting tidbit from the WSJ and CNBC:

 

By Nicole Friedman

Feb 28, 2017 12:36 pm ET

5 COMMENTS

 

Warren Buffett told CNBC on Monday that if he’d had to pick one person to manage his money, it would have been a “fella you never heard of: Herb Wolf.”

 

Who is Herb Wolf?

 

According to Alice Schroeder’s biography “The Snowball: Warren Buffett and the Business of Life,” Mr. Wolf was a friend of Mr. Buffett’s who worked at New York Hanseatic, an over-the-counter trading house. They met in the 1950s after Mr. Wolf read an article Mr. Buffett had written in the Commercial & Financial Chronicle.

 

Here is Mr. Buffett’s memory of Mr. Wolf, as quoted in the book:

 

    “Herb Wolf was one of the smartest guys I ever met. He could tell the effect on American Water Works’ earnings if somebody took a bath in Hackensack, New Jersey. He was unbelievable. One day Herb said to me, ‘Warren, if you’re looking for a gold needle in a haystack of gold, it’s not better to find the gold needle.’ I had this thing that the more obscure something was, the better I liked it. I thought it was a treasure hunt. Herb got me out of that way of thinking. I loved that guy.”

 

Mr. Wolf died years ago, according to Mr. Buffett’s assistant, Debbie Bosanek.

 

Interesting.

 

So, the cultist in me has me compiling Buffett's all-star list,

 

1. Buffett

2. Munger

3. Ruane

4. Gottesman

5. Schloss

6. Wolf

7. ?

8. ?

9. ?

10.?

 

anyone can fill this list?

 

[KCLarkin]

anyone can fill this list?

 

Fisher?

[kuberan]

Simpson?

[boilermaker75]

From one cultist, me, to all you out there, here is an interesting tidbit from the WSJ and CNBC:

 

By Nicole Friedman

Feb 28, 2017 12:36 pm ET

5 COMMENTS

 

Warren Buffett told CNBC on Monday that if he’d had to pick one person to manage his money, it would have been a “fella you never heard of: Herb Wolf.”

 

Who is Herb Wolf?

 

According to Alice Schroeder’s biography “The Snowball: Warren Buffett and the Business of Life,” Mr. Wolf was a friend of Mr. Buffett’s who worked at New York Hanseatic, an over-the-counter trading house. They met in the 1950s after Mr. Wolf read an article Mr. Buffett had written in the Commercial & Financial Chronicle.

 

Here is Mr. Buffett’s memory of Mr. Wolf, as quoted in the book:

 

    “Herb Wolf was one of the smartest guys I ever met. He could tell the effect on American Water Works’ earnings if somebody took a bath in Hackensack, New Jersey. He was unbelievable. One day Herb said to me, ‘Warren, if you’re looking for a gold needle in a haystack of gold, it’s not better to find the gold needle.’ I had this thing that the more obscure something was, the better I liked it. I thought it was a treasure hunt. Herb got me out of that way of thinking. I loved that guy.”

 

Mr. Wolf died years ago, according to Mr. Buffett’s assistant, Debbie Bosanek.

 

Interesting.

 

So, the cultist in me has me compiling Buffett's all-star list,

 

1. Buffett

2. Munger

3. Ruane

4. Gottesman

5. Schloss

6. Wolf

7. ?

8. ?

9. ?

10.?

 

anyone can fill this list?

 

Graham

[KCLarkin]

‘Warren, if you’re looking for a gold needle in a haystack of gold, it’s not better to find the gold needle.’ I had this thing that the more obscure something was, the better I liked it. I thought it was a treasure hunt. Herb got me out of that way of thinking. I loved that guy.”

 

Great quote, thanks. I'm surprised we don't hear it more often.

[Mephistopheles]

Weschler and Combs would obviously be on that list, making the total >10 counting all the names presented here

 

Another example of people taking Buffett way too literally. I'm sure he can name quite a few more than 10.

[Guest longinvestor]

Weschler and Combs would obviously be on that list, making the total >10 counting all the names presented here

 

Another example of people taking Buffett way too literally. I'm sure he can name quite a few more than 10.

 

Sure! If he said 20, I'd be fishing for 20.

 

Buffett should actually be spending his time here @ CoBF. He'd have way more than the 10. http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/your-10-year-annualized-returns/ There are at least 18 who have trounced Buffett's-10 and another 18+ in the wings who doubtless will in the next 10 years. The only catch is they all have aliases versus real names and did not step forward in response to the pollster's request for details, even anonymously via pm.

 

True to Herb's comment, we do have a gold stack around here. Forget golden needles.

[futile]

Dear all,

 

The correct spelling of the person is imho : Wolfe not Wolf.

 

See :

DEC. 23, 1964 : "Herbert O. Wolfe, director of research of the New York Hanseatic Corporation,(...)died yesterday at his home, 899 East 19th Street, Brooklyn. His age was 51."

http://www.nytimes.com/1964/12/23/herbert-o-wolfe.html

 

WOLFE—Herbert O., vice president and di­rector of research of New York Hanseatic Corp., on Dec. 22, 1964, af his home, 899 E. 19th Street, Bklyn., cherished husband of Lillian, loving father of Irving.Scott and Louise. Reposing at the Riverside Ocean Pkway and Prospect Park, Bklyn. Services at the Riverside Thursday at 10 A.M”.

http://www.nytimes.com/1964/12/23/deaths.html

 

HERBERT O WOLFE FOUNDATION INC : (daughter might be managing it?).

https://projects.propublica.org/nonprofits/organizations/116012915

 

 

[augustabound]

So, the cultist in me has me compiling Buffett's all-star list,

 

1. Buffett

2. Munger

3. Ruane

4. Gottesman

5. Schloss

6. Wolf

7. ?

8. ?

9. ?

10.?

 

anyone can fill this list?

 

David Winters.  ;D

[Aurelius]

According to Bruce Greenwald in his introduction to Li Lu some years ago, Buffett's top 3 were (in no particular order I think):

Seth Klarman

Greg Alexander

Li Lu