This is the third in a series of twelve posts. The introduction to the series is here.
By way of review, these are my notes of Warren Buffett’s responses to questions from Notre Dame and Stanford MBAs on October 9. 2007.

Can you comment on the challenge presented by Berkshire’s size?

Can’t compound like we used to.

Before, I went through all of Moody’s ten thousand pages.

Page 1433, Western Insurance Securities, earnings of $20-$30/share, low/high stock price $3-$13.

Can change net worth by 3-4x in 1-2 years by going all in on something good.

Atled Corp – delta spelled backwards – found it in the Oil & Gas Journal at the public library.

$20,000 in treasuries per share

Total A/P $189

Furniture and Fixtures $41 (I knew this was my kind of business.)

$10,000 per share in royalties

Bought 1 share for $29,000

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