What Makes Warren Buffett Special?
Warren Buffett, the billionaire investor and insurance executive, was in his office here this summer when he received a faxed letter about a company he'd never heard of.
The letter was from an adviser to Forest River Inc., an Elkhart, Ind., recreational vehicle maker. He proposed that Mr. Buffett buy the company for $800 million.
Mr. Buffett liked what he saw: The company had a big market share and little debt.
The next day, Mr. Buffett offered to buy Forest River and to let its founder, Peter Liegl, continue running it. He sealed the deal, at an undisclosed price, in a 20-minute meeting one week later. As the meeting wrapped up, Mr. Buffett told Mr. Liegl not to expect to hear from him more than once a year. Says Mr. Liegl: "It was easier to sell my business than to renew my driver's license."
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