Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2013

Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2013

by Carol J. Loomis
Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2013

Tap Dancing to Work: Warren Buffett on Practically Everything, 1966-2013

by Carol J. Loomis

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Overview

Warren Buffett built Berkshire Hathaway into something remarkable— and Fortune journalist Carol Loomis had a front-row seat for it all.

When Carol Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 Fortune article, she didn’t dream that Warren Buffett would one day be considered the world’s greatest investor—nor that she and Buffett would quickly become close personal friends. As Buf­fett’s fortune and reputation grew over time, Loomis used her unique insight into Buffett’s thinking to chronicle his work for Fortune, writ­ing and proposing scores of stories that tracked his many accomplishments—and also his occa­sional mistakes.

Now Loomis has collected and updated the best Buffett articles Fortune published between 1966 and 2012, including thirteen cover stories and a dozen pieces authored by Buffett himself. Loomis has provided commentary about each major arti­cle that supplies context and her own informed point of view. Readers will gain fresh insights into Buffett’s investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Some of the highlights include:

  • The 1966 A. W. Jones story in which Fortune first mentioned Buffett.
  • The first piece Buffett wrote for the magazine, 1977’s “How Inf lation Swindles the Equity Investor.”
  • Andrew Tobias’s 1983 article “Letters from Chairman Buffett,” the first review of his Berk­shire Hathaway shareholder letters.
  • Buffett’s stunningly prescient 2003 piece about derivatives, “Avoiding a Mega-Catastrophe.”
  • His unconventional thoughts on inheritance and philanthropy, including his intention to leave his kids “enough money so they would feel they could do anything, but not so much that they could do nothing.”
  • Bill Gates’s 1996 article describing his early impressions of Buffett as they struck up their close friendship.

Scores of Buffett books have been written, but none can claim this work’s combination of trust between two friends, the writer’s deep under­standing of Buffett’s world, and a very long-term perspective.


Product Details

ISBN-13: 9781101601501
Publisher: Penguin Publishing Group
Publication date: 11/21/2012
Sold by: Penguin Group
Format: eBook
Pages: 368
File size: 2 MB
Age Range: 18 Years

About the Author

CAROL J. LOOMIS is a senior editor-at-large at Fortune, where she has worked since 1954. She has been the magazine’s expert on Warren Buf­fett since 1966 and has edited his annual letter to shareholders since 1977. Her many honors include five lifetime achievement awards, including a Gerald Loeb Award for business journalism and Time Inc.’s first-ever Henry Luce Award. This is her first book. She lives in Westchester County.

Table of Contents

Preface xv

The Jones Nobody Keeps Up With-April 1966 Carol Loomis 1

From "Hard Times Come to the Hedge Funds"-January 1970 An excerpt from an article Carol Loomis 7

How Inflation Swindles the Equity Investor-May 1977 Warren Buffett 9

A Small College Scores Big in the Investment Game -December 18, 1978 Lee Smith 23

Berkshire's Shareholder Contributions 28

Shareholders Get to Vote on Charity-November 30, 1981 Lee Smith 29

Berkshire Gives Up on Giving-August 11, 2003 Nicholas Varchaver 32

Letters from Chairman Buffett-August 22, 1983 Andrew Tobias 34

From "Can You Beat the Stock Market?"-December 26, 1983 An excerpt and a sidebar from an article Daniel Seligman 40

Buffett and Capital Cities/ABC 43

Excerpts from articles Stratford Sherman Peter Petre Bill Saporito Carol Loomis 43

From "Beating the Market by Buying Back Stock"-April 29, 1985 An excerpt from an article Carol Loomis 47

Guess Who's Bought Whoops Bonds-April 29, 1985 Kenneth Labich 49

From "Now Hear This"-April 28, 1986 53

From "Should You Leave It All to the Children?"-September 29, 1986 Excerpts from an article Richard I. Kirkland Jr. 54

Dial B-U-F-F-E-T-T for Merger-December 22, 1986 From Newstrends Section 57

Early Fears about Index Futures-December 7, 1987 A warning letter sent by Warren Buffett to Congressman John Dingell Jr. 58

The Inside Story of Warren Buffett-April 11, 1988 Carol Loomis 62

Buffett and Salomon 76

The Wisdom of Salomon?-April 11, 1988 Carol Loomis 77

Warren Buffett's Wild Ride at Salomon-October 27, 1997 Carol Loomis 78

From "Now Hear This"-January 10, 1994 Buffett's wry comment 2 1/2 years after the Salomon crisis broke 90

Nebraska Special-September 26, 1988 Terence Paré 91

A Warm Tip from Warren Buffett: It's Time to Buy Freddie Macs -December 19, 1988 Brett Duval Fromson 92

What Happened at the Bridge Table 95

A Very Full Deck-June 5, 1989 Julia Lieblich 95

Raising Cayne-January 15, 1990 Alan Deutschman 95

From "How to Live with a Billion"-September 11, 1989 Excerpts from an article Alan Farnham 97

From "Now Hear This"-October 23, 1989 98

New Warren Buffetts? And the Old One 99

From "Are These the New Warren Buffetts?"-October 30, 1989 An excerpt from an article Brett Duval Fromson 100

And Now a Look at the Old One-October 30, 1989 Brett Duval Fromson 101

How I Goofed-April 9, 1990 An excerpt from Buffett's letter to shareholders in the 1989 Berkshire Hathaway annual report 103

From "The Children of the Rich and Famous"-September 10, 1990 Excerpts from an article Alan Farnham 107

The Midas Touch at a Discount-November 5, 1990 Edmund Faltermayer 109

Buffett Buys Junk-April 22, 1991 Jennifer Reese 111

From "Now Hear This"-April 5, 1993 112

Buffett and Coca-Cola 113

Excerpts from articles by John Huey Betsy Morris Patricia Sellers Carol Loomis 113

How Buffett Views Risk-April 4, 1994 An excerpt from Buffett's letter to shareholders in the 1993 Berkshire Hathaway annual report 116

Buffett Hits $200 Million Downdraft-November 17, 1994 Colin Leinster 117

Buffett and Gates 119

The Billionaire Buddies-January 16, 1995 Brent Schlender 120

Gates on Buffett-February 5, 1996 Bill Gates 121

From "Untangling the Derivatives Mess"-March 20, 1995 An excerpt from an article Carol Loomis 126

Two Items from "Now Hear This"-April 3, 1995 and May 29, 1995 127

From "Why Warren Buffett's Betting Big on American Express" -October 30, 1995 Excerpts and a sidebar from an article Linda Grant 128

Gift That Gives-A Bit O' Buffett-March 18, 1996 Bethany McLean 132

The Bill and Warren Show-July 20, 1998 Edited Brent Schlender 133

A House Built on Sand- October 26, 1998 Carol Loomis 152

Are Jimmy and Warren Buffett Related?-June 21, 1999 Tyler Maroney 162

Put Bite into Audit Committees-August 2, 1999 Carol Loomis 164

Mr. Buffett on the Stock Market-November 22, 1999 A Buffett speech that Carol Loomis converted into an article 166

Warren Buffett: Revivalist-May 19, 2000 Amy Kover 176

Warren Buffett Invests in the First Lady- October 20, 2000 Jeffrey Birnbaum 178

Admired-Again and Again 180

The Value Machine-February 19, 2001 Carol Loomis 181

A Letter from Fortunes Letters Column-March 26, 2001 190

Warren Buffett on the Stock Market-December 10, 2001 A Buffett speech that Carol Loomis converted into an article 191

The Mash Note Everybody Wants-September 16, 2002 A Sidebar Jerry Useem 203

The Oracle of Everything-November 11, 2002 Andy Serwer 204

A Letter from Fortune's Letters Column-February 17, 2003 215

Avoiding a "Mega-Catastrophe"-March 17, 2003 An excerpt from Buffett's letter to shareholders in the 2002 Berkshire Hathaway annual report 216

Where We're Putting Our Money Now-March 17, 2003 A second excerpt from Buffett's letter to shareholders in the 2002 annual report 221

The Sage Goes to Asia-May 26, 2003 Clay Chandler 222

The Power Issue 224

From "The 25 Most Powerful People in Business"-August 11, 2003 Excerpts from an article Jerry Useem 224

The Most Powerful Businessperson: Warren Buffett-August 11, 2003 Andy Serwer 225

America's Growing Trade Deficit Is Selling the Nation Out from Under Us. Here's a Way to Fix the Problem-And We Need to Do It Now. -November 10, 2003 Warren Buffett, Workding with Carol Loomis 227

Why Foreigners Can't Ditch Their Dollars-November 10, 2003 A Sidebar Warren Buffett with Carol Loomis 235

The Market According to Buffett-May 17, 2004 David Stires 236

The Best Advice I Ever Got-March 11, 2005 A Warren Buffett recollection, edited Carol Loomis 237

The $91 Billion Conversation-October 31, 2005 Daniel Roth 239

Cut Your Gains!-March 20, 2006 An excerpt from Buffett's letter to shareholders in the 2005 Berkshire Hathaway annual report 247

Buffett's Alter Ego-May 29, 2006 Andy Serwer 251

Buffett Backs GM-And Buys a Caddy-May 29, 2006 Alex Taylor III 254

The Philanthropist Emerges 255

Warren Buffett Gives It Away-July 10, 2006 Carol Loomis 256

How Buffett's Giveaway Will Work-July 10, 2006 Carol Loomis 264

Would You Like That $11 Billion in Twenties?-July 24, 2006 Carol Loomis 267

Buffett to Gates: Spend It!-March 19, 2007 Jia Lynn Yang 268

Marking to Myth-September 3, 2007 Warren Buffett 270

The Oracle's Credit Crisis-March 31, 2008 Telis Demos 271

What Warren Thinks… -April 28, 2008 Nicholas Varchaver 272

Buffett's Big Bet-June 23, 2008 Carol Loomis 279

From "What Obama Means for Business"-July 2, 2008 An excerpt from an article Nina Easton 285

Buffett's Market Metric Says Buy-February 16, 2009 Carol Loomis Doris Burke 286

Buffett Takes Charge-April 27, 2009 Marc Gunther 288

From "Riders on the Storm"-May 4, 2009 An excerpt from an article Adam Lashinsky 295

From "Who the Admired Admire"-March 22, 2010 An excerpt from an article Anna Bernasek 296

The Giving Pledge 297

The $600 Billion Challenge-July 5, 2010 Carol Loomis 298

My Philanthropic Pledge-July 5, 2010 Warren Buffett 306

Buffett's Mr. Fix-It-August 16, 2010 Brian Dumaine 308

A New Buffett Takes Beijing- October 17, 2011 Bill Powell 316

A Nation Grapples with Charity- October 17, 2011 A Sidebar Bill Powell 320

Why Stocks Beat Gold and Bonds-February 27, 2012 An excerpt from Buffett's letter to shareholders in the 2011 Berkshire Hathaway annual report 321

Warren Buffett Is Bullish… on Women-May 20, 2013 Warren Buffett 327

Final Note from the Editor 331

Acknowledgments 333

Index 336

What People are Saying About This

From the Publisher

“Loomis has created an engaging picture of a great influencer of our time.”
Publishers Weekly
“Serious investors as well as those interested in the history of Berkshire Hathaway and the philanthropic ideas of Buffett will enjoy these revealing pieces extracted from the Fortune archives.”
Kirkus Reviews

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