Marshall Students Meet Warren Buffett
Photo/Alfonso Guzman
So when nearly 40 students from the USC Marshall School of Business were given the opportunity to meet with the “Sage of Omaha” and hear his perspectives on business, investing and other topics, they eagerly signed up for a trip to Nebraska.
“He was really wonderful – an energetic, warm and charismatic man with a great laugh who seemed very interested in the students,” said Guillermina Molina, USC Marshall’s director of undergraduate student services who accompanied 27 undergraduates and 10 MBA students on the mid-January trip. “And I think the students got a good look not only at a great investor’s philosophies but also how he is as a person, and a remarkable person at that. It was a great trip.”
The trip was the brainchild of junior Alfonso Guzman, president of Alpha Kappa Psi, one of USC Marshall’s two undergraduate business fraternities. Guzman worked with Molina and assistant professor Christopher Jones to arrange trip logistics.
“Getting his insights into his outlook on life was the best part,” said Guzman, adding that he enjoyed Buffet’s views about purpose and productivity the most. “He tried to tell us that it’s up to every individual to work hard to benefit society and that people should do the things they’re the best at.”
The 27 undergraduate participants were chosen for the trip after submitting a short essay. They also had to have at least a 3.0 GPA. Another 10 MBA attendees were chosen because they are part of the Student Investment Fund, a program through the Marshall Center for Investment Studies that allows them to manage a small portion of the university’s portfolio.
During the 90-minute Q-and-A session the students had with him, Buffett credited his Omaha hometown for keeping him grounded, far from the Wall Street whispers that would have muddled his investment approach with 20 ideas a day.
Instead, he has spent his energy finding companies with what he called a “durable competitive advantage,” whose business you can understand, and with management that he personally trusts and admires. He cited See’s Candy, Fruit of the Loom and Coca-Cola as examples of such strong performers..
Buffett, who gave students a sense of his lighter side, spoke about the benefits of bridge and exercise to keep his mind clear and sharp. He follows his own path not only in investing, but also with his diet, salting his food with a farmhand’s gusto, drinking lots of Coca-Cola and regularly visiting his favorite Omaha steakhouse, Gorat’s.
“He’s very humble and funny,” Guzman said. “He was happy to take pictures with us and give us advice. The whole experience was touching and really inspiring. I’ll never forget it.”
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The Chronicle of Higher Education mentioned USC’s $6 billion fundraising campaign. The story noted that USC had already raised $1 billion in a “quiet phase,” including the $200 million naming gift from USC Trustee and alumnus David Dornsife and wife Dana Dornsife to the USC Dornsife College.
The Guardian (U.K.) highlighted two major gifts to USC in a list of the 10 biggest philanthropic benefactors in America. The list included the $200 million naming gift from USC Trustee and alumnus David Dornsife and wife Dana Dornsife to the USC Dornsife College, and the $110 million gift from USC Trustee and USC Viterbi School alumnus John Mork and wife Julie to create the USC Mork Family Scholars Program.
The New York Times featured the USC U.S.-China Institute documentary “Assignment: China — The Week that Changed the World.” The documentary, part of a series, examines media coverage of the 1972 Nixon trip that reshaped U.S.-China relations after a quarter century of isolation and hostility. “People look back now and take it for granted that the outcome was preordained,” said the institute’s Mike Chinoy, who produced the documentary. Voice of America also featured the story.
Los Angeles Times featured the Oscar Senti-meter, a tool developed by the USC Annenberg School, Los Angeles Times and IBM that analyzes thousands of tweets about the Academy Awards nominees. The story noted that Mexican actor Demian Bechir received an enormous boost on Twitter the day of the nominations, with a total of 6,893 tweets mentioning him, a 47-fold increase from the day before. The story noted the tool uses language-recognition technology developed in collaboration with USC Viterbi School’s Signal Analysis and Interpretation Lab.
The Times of India (India) featured a three-day medical emergency training workshop organized in association with USC. At the workshop, held at GCS Medical College in India, 50 doctors and more than 100 paramedics learned how to improve emergency support systems. William Mallon of the Keck School of USC said that discussion topics included the use of portable ultrasonic devices to scan patients. “The ultrasound applications help physicians make accurate and timely decisions,” he noted. Daily News & Analysis (India) also featured the workshop.
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