EXCLUSIVE: Warren Buffett's money managers, Todd Combs and Ted Weschler, speak (Yahoo! Finance)





“I get in around 7 or 8, and I read until about 7 or 8 at night,” he says with a laugh. “And I go home, and see my family, and then I’ll read for another hour or two in bed at night. And you know, there might only be three to four phone calls the entire week. So there are very, very few interruptions. I have a great assistant who knows everything that I read, and she kinda provides everything, and there’s a back and forth between us where I’ll mark it up, and give it back to her. And we have a system for filing and so forth. But it’s literally just reading about 12 hours a day of everything I just mentioned.”


“Well it runs the gamut as well. I would say certainly newspapers. I follow about 250 public companies every quarter. And so I go through, for each quarter each one of those companies, their quarterly reports. So a lot of S.E.C. filings. A lotta transcripts. I can read a transcript much faster than I can listen to the conference call. And you weed out some of the friction there as well.

“So a lot of S.E.C. filings. A lotta trade magazines. There are a couple dozen of those that I subscribe to. And then I have a wonderful analyst who helps me with channel checks where we talk to customers, suppliers, ex-employees and so forth. We’re really trying to get a view of what it would be like - every security that we look at, we’re really trying to get a sense of what it would be like to own the entire business.”


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