How to run Berkshire Hathaway... if you're from a non-target
If there is one common link between all of us on this site it is the hunger of ambition and the thirst for success. Today, the most successful investor alive, answers WSO's most frequently asked questions .
Whether it's "how to break in from a non-target?" or "what would Mr. Buffett do?", this story answers both and so much more. For all of you guys worried about breaking in and getting a job, this story should be the ultimate answer to all of your career related questions. Today, we are once again reminded that hard, work, faith and dedication are the ultimate resume builders and boosters. That no man can be stopped, when that man does not stop himself.
The not-at-all tall tale of Todd "Puffy" Combs should be mandatory poster material for many of you guys wanting to make it big in finance. Without regurgitating the WSJ article, I will point to a few memorable tidbits about the career of the man slated heir apparent to the throne of the Berkshire Hathaway kingdom:
He graduated from Florida State University in 1993.
Worked as an analyst for state financial regulator.
Moved on to Progressive, working in the auto insurance division, analyzing risk and setting rates for auto-insurance policies.
Enrolled in Columbia Business School in 2000, becoming one of 40 students picked for brand new Value Investing Program.
2002, a role in Equity Research at Copper Arch Capital LLC.
2005, Stone Point Capital in Greenwich starts a new fund and chooses Combs to run it.
Naturally, I have left a lot out. Needless to say the man's intelligence, drive and ability are unquestionable...
The two most important characteristics which define the man:
1) He wanted it bad enough
2) He made it happen
The two ultimate traits of all winners are the game breakers that make the difference.
It all comes back to the simple rule that "if you've got game, you will get to play".
This goes out to all my monkeys in cubicles Street-wide and to those sitting on the side lines waiting and wondering when they will get their shot at stardom.
Believe it and you can achieve it. Having the drive makes the Bugatti is inevitable.
Great article Midas. What I think this also illustrates is that nothing is easy and things take time. This site has a mentality that if you do not get into banking right way, especially at a BB, you are fucked. Sometimes you have to take the long road with things. This guy clearly steadily moved up the chain and it paid off. Take note monkeys. Life is not over if you don't get BB IBD.
Exactly -- top boutiques like blackstone, top consulting firms like Mckinsey, bain, bcg, and straight to KKR/TPG are definitely acceptable options that can help you succeed. Greenhill->Blackstone->Stanford is definitely acceptable, don't have to be Goldman->KKR->HBS. many paths there are
Great post, and to expand on what Anthony said I believe that just as long as you place yourself somewhere were you can truly show your talent it really won't matter whether your in a BB or in a commercial bank/etc..
Sure it'd be harder, but as Midas wrote
I love you 3 (no homo)
it would be more impressive if he hadn't graduated from Columbia Value Investing. Anyone know the specific background of the Montclair State College grad before he became Head of Credit Trading at MS? Or Ivan Boesky's background between graduating from a TTT law school with no UG degree in '65 and becoming a famous arbitrageur by '86? I don't usually read biographies but I always wondered.
http://www.businessinsider.com/friends-say-warren-buffetts-todd-combs-i…
Anything is possible, you just got to want it more than others
It's an awesome story to be sure. Thanks for digging that up 3M because I couldn't find the guy's background anywhere yesterday. Still can't believe the guy worked at Progressive.
Seigniorage, as meteoric as Boesky's rise was, it depended in large part on fraudulent practices, nearly from the get-go. Page 42 of Den of Thieves has the broad lines of his early career. And Howard Hubler isn't exactly the most respected guy on the street either.
well he got into columbia which changed his trajectory ................
my life is over if i don't get bb, ibd. lol
Columbia MBA wipes the “non-target” label out.
Correct.
there are kids who get into mckinsey, lazard, blackstone m&a instead of the usual bulge brackets and still succeed -- honestly goldman and bust is a terrible mentality to have
and its absolutely not harvard/wharton or bust -- many kids come from undergrads as varied as williams, columbia, dartmouth, yale, and MIT and still manage to do well in top firms. they might be shut out of goldman/KKR but many many options are available if you try
haha ricochet is hilarious.
"they might be shut out of goldman/KKR" LOL
Do you really think that everybody at GS is a Wharton/Harvard grad?
^^^ absolutely not. what i'm saying is that people from MANY MANY backgrounds can succeed. it's not just harvard, but kids from a wide variety of places -- princeton, yale, dartmouth, MIT, amherst, greenhill, evercore, lazard, blackstone, SAC capital -- can all still succeed
^ Yes because going to MIT is so much worse than Harvard.
If you want to make an example say kids from non-targets can still make it.
Dash--
You just got trolled.
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