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Founders: #303 Rose Blumkin (Warren Buffett's Favorite Founder)

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What I learned from reading The Women of Berkshire Hathaway: Lessons from Warren Buffett's Female CEOs and Directors by Karen Linder. ---- Follow one of my favorite podcasts: Invest Like the Best and listen to episode 326 Alexis Rivas—A New Blueprint for Homebuilding ---- Episode outline: Mr. Buffett, we're going to put our competitors through a meat grinder. — Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) There are several "Going Out of Business" advertisements from competitors' stores framed and hanging on the wall. As a general rule, bet on the quality of the business, not on the quality of the management-unless, of course, you've got a Mrs. B. in your hand. If that is the case, go all in. She was a business genius. — The Tao of Charlie Munger (Founders #295) Retirement is fatal. — David Ogilvy (Founders #189) Business like raising a child, you want a good one. A child needs a mother and a business needs a boss. What is your favorite thing to do on a nice evening? Drive around to check the competition and plan my next attack. He was 52 and famous. I was 33 and a junior account executive. Early on, he wrote a letter to one of my clients. After

[00:00:00] The tale of Rose Blumpkin is a quintessential immigrant success story. She was born in a village near Minsk, Russia. She and her seven siblings lived in a two-room log cabin and had to sleep on straw mats. Her father was a rabbi and spent his days in religious study. Her mother ran a small general store. My father was so religious, he said, that my mother had to support us. He only prayed. Rose never attended school. [00:00:28] She started helping her mother in the store at the age of six. She once woke up in the middle of the night and saw her mother washing clothes and baking…

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