Why Buffett bought Clayton

Been reading Warren Buffett’s Letter to Berkshire Hathaway’s shareholders in their 2003 Annual Report. It contains a great anecdote about how a group of students from the University of Tennessee helped him decide to purchase Clayton Homes. Really worth a read.

Comments (4)

  1. Wallym says:

    Having heard all of this from the inside, it is very interesting to read the external reports. FYI, not to be a name dropper, but my father and mother are going with Jim Clayon, his wife Kay, and another couple to Florida on Air Clayton. My father was just here in the office and he said that Jim told him that the wheels were going up at 8:00 am on Thursday.

    When I met Warren Buffet last year when he came to Knoxville, he had two funny items above and beyond everything else:

    1. He went up to the microphone to test it and said one million, two million, three million instead of one, two, three.

    2. When he was asked about airlines and his thoughts about the financial viability of air travel, he said that if he had a time machine, we would seriously consider going back to Kitty Kawk, NC and firing a surface-to-air missle at the Wright Brothers plane so that airlines wouldn’t develop.


  2. Great story Wally! How does the story in the annual report differ from the inside story?

  3. wavesmash says:

    Just discovered the Berkshire-Hathaway website a few weeks ago http://www.berkshirehathaway.com/. Mr. Buffett’s annual reports and ‘Owner’s Manual’ are invaluable and interesting reads, and it’s amazing how such a simple site is so useful.

    I asked them if they could send me a printed copy of them, since one of them was 74 pages at last count, and toner is expensive. Plus I can’t afford the $85K for a share of stock.

    Based on their web site note below I don’t think I’m going to get a response any time soon:

    If you have any comments about our WEB page, you can either write us at the address shown above or e-mail us at berkshire@berkshirehathaway.com. However, due to the limited number of personnel in our corporate office, we are unable to provide a direct response.

    If anyone’s speaking with Warren, ask him to subscribe me to his mailing lists or weblog when he gets one set up. Hopefully Bill Gates gets him blogging soon.