Last night CNBC telecasted a live show from Columbia business school. Mr.Buffett and Me.Gates answered questions from the B-School students on various aspects from past crisis (am optimistic "crisis has gone"), learnings, future opportunities, investments etc.,
I admire Mr.Buffett's strong statement about investments on education. He said he will be ready to invest $100K to his employee to go to business school as they will be worth $1M after completion of business studies. He also added that he will invest another $50K for improving communication skills and their net worth will be $1.5M.
A question was asked about Mr.Gates view on "Apple". Mr.Gates responded by applauding Steve jobs for his entreprenurial skills in bringing the Apple back on track once he rejoined the Apple when the companies sales & profits were declining.
Mr.Gates also indicated that Steve jobs brought the competition in the Software/Hardware market by introducing Mac's & iPods.
My take on the entire interview was
Success doesn't come free. You need an investment to become successful. Investment in education, investment of time, investment in research & development always fetches good results regardless of world & economic conditions. For ex; An investment banker will only be successful, only if they invest their time to research the market position, conditions, portfolios before investing in the stocks.
Mr.Buffett indicated that he studied the Moody's 1000 pages rating book twice before doing his first investment.
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