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Eric Pooley only scratched the surface in writing of Jimmy Buffett's appeal to his Parrothead fans the world over [SHOW BUSINESS, Aug. 17]. Buffett is a folk, country, rock-'n'-roll, calypso, Latin, honky-tonk, Big Band, reggae, bebop, Tin Pan Alley, zouk, polka singer. He has become a spokesman for those of us who still enjoy being "the people our parents warned us about." For 364 days of the year, we deal with unadulterated crap, but on the 365th, Buffett comes to town and we slip away to Margaritaville. Being a Parrothead isn't without its responsibilities, however...
...that's terrific news. In general, it means you get access to timely research, lower commissions, better service and, increasingly, Wall Street's top money managers. A few years ago, Warren Buffett created a lower-priced Berkshire Hathaway stock, dubbed "Baby Berkshires," to satisfy retail demand. Now the venerable pension-fund manager Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF), also known as the Teachers, has gone downmarket...
...Midwestern retailing maven who, as a non-English-speaking Russian immigrant, founded the Nebraska Furniture Mart in 1937 and fostered its growth into one of the nation's largest home-furnishings stores; in Omaha. Blumkin's aggressive marketing philosophy rested on underselling her competitors. Among her fans was Warren Buffett, who bought majority control of the Mart...
...cracks jokes and signs autographs for the fans pouring into the place: businessmen, working women, students from the culinary academy up the street. They're not star struck, just pleased to meet a star who seems like a regular guy. "Can I shake your hand?" someone asks. "Sure," says Buffett, "for a hundred bucks." Everyone laughs. He asks a woman at the counter how she wants her burger, and suddenly he's leading the crowd in a Cheeseburger in Paradise sing-along. The assistant captures it all on video, and Buffett is ready for his getaway. He ducks outside, gets...
These are nutty days on Wall Street, and you can hardly be blamed for thinking about shifting your investments into something safe, like a money-market fund--if not the mattress. The esteemed Warren Buffett revealed last Monday that he had recently sold more than $5 billion in bonds. Presumably, that money is now parked somewhere secure while he hunts for bargains--if he hasn't already found them in the wake of last Tuesday's stock-market dive. Bully for him. But remember that he's a billionaire investment god. Mere mortals don't have his eye for value...