Warren Buffett’s #business #success is beyond question. What do the actions of the world’s most #successful #investor say about advertising? As controlling investor in #BerkshireHathaway, Mr. Buffett’s core business is #insurance.
Warren Buffett’s Berkshire Hathaway has emerged as a major player in the #ad #world, ranking 23rd on the Ad Age Datacenter list of the nation’s top 10O #spenders. But the conglomerate’s move Thursday to jointly acquire H.J. Heinz Co. Berkshire Hathaway acquired major positions in two agencies, McCann-Erickson and Ogilvy & Mather.
As Warren Buffett explained his #strategy: “I like royalty-based businesses.” Warren Buffett is known for his quirky quotes on a diverse array of subjects but they carry the chicken soup of #marketing wisdom which can solve a major clog in your advertising.
Warren Buffett admitted to #shareholders Saturday that he made a mistake by not buying #Google shares years ago, when the company was getting $10 or $11 per advertising #click from Berkshire Hathaway consumer #insurance #company subsidiary #Geico.