Guy Spier was a winner of Buffett’s coveted charity auction; now he’s offering his own version.
It’s been 10 years since I and my friend, investor Mohnish Pabrai, won the annual Glide Foundation charity auction for lunch with legendary investor Warren Buffett.
Together we paid $650,100, which, although it seemed like an enormous sum at the time, is dwarfed by the $3.3 million paid this year. My cost was around $220,000 because we split the donation — two-thirds from Mohnish, who came with his wife and two daughters, and one-third from me and my wife (our children were too young).
Why did we do it? In my book “The Education of a Value Investor,” I offer several logical, well-thought reasons. But with the perspective of a little more time perhaps it comes down to plain and simple curiosity.
Over the years 2004 to 2007 my investing had gone well. I had some money in the bank and I simply wanted to sit down and break bread with this man I revered. On some level, all I was hoping for was to get a measure of the man, to size him up in person and get a sense of how he ticks. Was he really that smart? Was I like him in any way?