On Taking a Shot

I take shots all the time.  By ‘taking a shot’ I don’t mean taking a risk, I’m speaking more along the lines of a low risk, low potential but astronomical reward situation.  The kind of thing where you know it’s a long-shot but you have nothing to lose by not trying.  To keep taking these types of shots, one needs to be very hungry, dauntless and a bit of a dreamer.

Todd Combs landed the dream job of running Warren Buffett‘s $100 billion investment portfolio the old-fashioned way – he applied for it!

From the Wall Street Journal:

Mr. Combs was one of hundreds of people who responded to an unconventional “help wanted” request Mr. Buffett made in early 2007. But his initial inquiry didn’t distinguish itself.

Undaunted, the low-key father of three, who lives in Darien, Conn., recently sent another letter to Berkshire Vice Chairman Charles Munger asking for a meeting. Mr. Munger said in an interview that he gets “hundreds” of such requests each year, but “something in his request piqued my interest.”

The two soon met for a lunch that extended well into the afternoon at the California Club in downtown Los Angeles. Mr. Munger later phoned Mr. Buffett and told him, “this is a guy I am sure you are going to like,” Mr. Munger recalls.

Mr. Buffett says he and Mr. Munger were sold on Mr. Combs not only because of his ability and intelligence but also because they were convinced he would fit in to Berkshire’s no-fuss culture.

I love stories like these.

Source:

Buffett: Combs is a 100% Fit (WSJ)