Berkshire Hathaway 1994 Annual Meeting Audience Question # 49

How Warren sees Peter Lynch

Warren Buffett:

Zone 1.

Audience Member:

Mike Macy from Indianapolis.

I have really enjoyed reading your annual letters and your annual report, and I’ve gone back and read all of the older ones, too.

They’re terrific.

I have also enjoyed reading the two books by Peter Lynch, and I see a lot of commonalities between the two of you, the way you think, your philosophy, et cetera.

I’d certainly appreciate it if you’d make a few comments on what you think of Peter Lynch, the things he says in his two books, and the advice that he gives to investors. Thank you.

Warren Buffett:

Well, I know Peter. I don’t know him well, but we’ve played bridge together in Omaha as a matter of fact.

I like him personally, and obviously he has an outstanding record. And he has written those two books, which have been bestsellers, about his investment philosophy. I don’t really have anything… you know, I’m not going to embroider on his.

There’s certainly a fair amount of overlap. There’s some difference.

Peter, obviously, likes to diversify a lot more than I do. He owns more stocks than the names of companies I can remember. I mean, but that’s Peter.

And, you know, I’ve said in investing, in the past, that there’s more than one way to get to heaven. And there isn’t a true religion in this, but there’s some very useful religions.

And Peter’s got one, and I think we’ve got one that’s useful, too. And there is a lot of overlap.

But I would not do as well if I tried to do it the way Peter does it, and he probably wouldn’t do as well if he tried to do it exactly the way I’d do it.

I like him personally very much. He’s a high-grade guy.

Looking for an offline, PDF copy of all shareholder questions carefully arranged into specific topics such as How to properly evaluate a company for potential investment, Intelligent Investing and Secrets to achieving Success and Happiness? Click on the image below to learn more.

Q&A with Warren Buffett and Charlie Munger: A Compilation of All Shareholder Questions and Answers from The Berkshire Hathaway Annual Shareholder Meetings

Click here to return to the Q&A topic list. Or alternatively, you can proceed to the next or go back to the previous question.

Don`t copy text!