Rodent Regatta

How Warren Buffett thinks about shareholders:

Charlie and I are disgusted by the situation, so common in the last few years, in which shareholders have suffered billions in losses while the CEOs, promoters, and other higher-ups who fathered these disasters have walked away with extraordinary wealth. Indeed, many of these people were urging investors to buy shares while concurrently dumping their own, sometimes using methods that hid their actions. To their shame, these business leaders view shareholders as patsies, not partners. [from the 2001 Berkshire Hathaway Annual Report]
Lest anyone thinks I’m somehow hyping Berkshire Hathaway as an investment – quite the contrary. I’m suggesting there is some excellent guidance about managing a business in the principles used to run this particular company! How many companies have you invested in which offer an Owner’s Manual?