Buffett Reminds His Top Managers: Reputation Is Everything

Warren Buffett, who’s run Berkshire for the past five decades, sends a memo every other year to the managers of each of Berkshire’s 80-plus subsidiaries that emphasizes those two points. The latest such memo, which varies little from the version Mr. Buffett shared with investors in Berkshire’s 2010 annual report, carries Friday’s date

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See the memo below.

 

Buffett In New Memo Tells Managers: Reputation Is Everything