Warren Buffet, a legend beyond compare purely for his strict investing principles (frugal as the man himself).
Just to get a dose of this legend do read "The Chairman's letter - 1994" don't know if he still writes much to the share-holders but this is a true gem for investment advices.
And of course, coming back to the title of the Post... if you really have a business plan that interests Mr.Buffet here are the criteria (So succinct yet so filled-with knowledge)
BERKSHIRE HATHAWAY INC.
ACQUISITION CRITERIA
We are eager to hear from principals or their representatives about businesses that meet all of the following criteria:
- Large purchases (at least $50 million of before-tax earnings),
- Demonstrated consistent earning power (future projections are of no interest to us, nor are "turnaround" situations),
- Businesses earning good returns on equity while employing little or no debt,
- Management in place (we can't supply it),
- Simple businesses (if there's lots of technology, we won't understand it),
- An offering price (we don't want to waste our time or that of the seller by talking, even preliminarily, about a transaction when price is unknown).
We will not engage in unfriendly takeovers. We can promise complete confidentiality and a very fast answer -- customarily within five minutes -- as to whether we're interested. We prefer to buy for cash, but will consider issuing stock when we receive as much in intrinsic business value as we give.
Charlie and I frequently get approached about acquisitions that don't come close to meeting our tests: We've found that if you advertise an interest in buying collies, a lot of people will call hoping to sell you their cocker spaniels. A line from a country song expresses our feeling about new ventures, turnarounds, or auction-like sales: "When the phone don't ring, you'll know it's me."
* Source : http://www.berkshirehathaway.com/1999ar/acq.html
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