Yes, there are several companies that have successfully implemented Warren Buffett's strategy of not going with the flow. For instance, Apple Inc. has often gone against the grain in its product development and marketing strategies, leading to its current position as one of the most valuable companies in the world. Similarly, Amazon.com Inc. has consistently defied conventional wisdom in retail and logistics, which has resulted in its dominance in the e-commerce sector. These companies, among others, demonstrate the potential success of adopting a contrarian approach in business.

stars icon
Questions and answers
info icon

Yes, there are several individuals and companies who have successfully implemented Warren Buffett's strategies. Some of them include Charlie Munger, Vice Chairman of Berkshire Hathaway, who is known for his value investing strategies similar to Buffett's. Another example is Lou Simpson, who managed GEICO's investment portfolio for many years, following a similar approach to Buffett. In terms of companies, Markel Corporation, often referred to as a "mini Berkshire", also follows a similar investment philosophy.

Warren Buffett's independent thinking played a crucial role in his success as an investor. He lived his life by his inner scorecard, often going against the flow, which saved him millions of dollars. For instance, he refused to participate in the dotcom boom, a decision that was later proven to be right. In 2003, he warned about the 'weapons of financial mass destruction', referring to the driving force behind the credit crunch. Once again, his independent thinking was validated.

Warren Buffett used the term "weapons of financial mass destruction" to refer to complex financial instruments like derivatives. He believed these instruments were extremely risky and could lead to significant financial losses, similar to how weapons of mass destruction can cause massive physical destruction and loss of life. He warned about these in 2003, foreseeing the credit crunch that happened later.

View all questions
stars icon Ask another question
This question was asked on the following resource:

The Snowball: Warren Buffett and the Business Life

When a group of economists came up with the Efficient Market Hypothesis, to explain how it was impos...

View summary
resource preview

Download and customize more than 500 business templates

Start here ⬇️

Go to dashboard to view and download stunning resources

Download