Ted Weschler: The Recipe For Financial SuccessVW Staff
Interview With Warren Buffett’s Investment Manager Ted Weschler: The Recipe For Financial Success via Christin Martens, Business Insider – He does not give interview often so this is interesting
Ted Weschler (55), alongside Todd Combs, is one of the two investment managers that Buffett (85) hired to help oversee Berkshire’s portfolio.
The former hedge fund manager Weschler, who joined Omaha, Nebraska-based Berkshire in 2012, sat down with BI Germany’s editor-in-chief Christin Martens for an interview.
Q&A with Ted Weschler
Business Insider: By auctioning for a private lunch with Warren Buffett in two consecutive years you basically paid $5,252,722 to get a job. What is the interest rate on that investment?
Ted Weschler: People love that story. Let me get this clear though. It was on my bucket list that I always wanted to meet Warren Buffett. I happened to be in San Francisco for a board meeting of a foundation I am affiliated with. And I knew that I wanted to visit Glide, a San Francisco church and mission, whose foundation is the charity that benefits from this lunch.
And basically you make a donation for this charity. And if you make the biggest one you also get the ‘free‘ lunch. And I ended up winning that lunch. We actually did it as a dinner in Omaha. And we had a terrific time. And the following year I did not intend to do it again. But I did not want the value of the lunch to drop. So I bid 100 $ more than the year before and I ended up winning it again.
See the full article here.