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Here is an interesting interview with Buffett biographer Alice Schroeder, author of The Snowball. Alice gives her take on Warren's retirement, the future of Berkshire, etc.
It's well worth a read, in my opinion.

https://www.msn.com/en-us/money/savingandinvesting...

Nice. I'm wondering if he withdrew from what was previously extensive and routine dialogue with her, because assuredly The Snowball singed him on some level. Alice is very gracious, and it would be grand if she got him for a couple weeks to do a new "20 years later" updated version.

Nice. I'm wondering if he withdrew from what was previously extensive and routine dialogue with her, because assuredly The Snowball singed him on some level. Alice is very gracious, and it would be grand if she got him for a couple weeks to do a new "20 years later" updated version.

I was under the impression that he essentially cut her off after the Snowball. But that interview made it sound like they weren't in communication recently because he doesn't like chat on the phone anymore. Maybe she was being diplomatic.

he cut her off.

even though he said "take the less flattering version while researching for the book" he didn't like some of the personal stuff

I've read the book several times and thought it was excellent, which bits didn't WEB like? Personal stuff?

from memory - it has been a long time.

discussion of his wife leaving him for the tennis pro
giving the Pro some stock

being a disengaged father with the kids

from memory - it has been a long time.

discussion of his wife leaving him for the tennis pro
giving the Pro some stock

being a disengaged father with the kids

This plus his very cozy relationship with Katherine Graham, which contributed to his wife leaving.

In all my years here I put only one ignore. Thanks to this thread finally I did this with a 2nd one, but I really really don´t want to repeat that. Please, guys.

I guess if it appears and it was off limits you'd be annoyed. She must have broken his trust.

I had always heard that she gave Warren the manuscript to read before it went to the publisher, so he read it and thought it was great with no changes necessary. But as soon as the book hit the shelves, he stopped talking to her. Apparently, some of his friends read the book and were surprised that there were some things about Warren's personal life that were portrayed in the book that weren't particularly flattering.
Like a lot of things in life the truth is probably somewhere in the middle but I always kind of thought that Warren handled the situation regarding Alice somewhat poorly.

I listened to an interview with her once, and she said some negative things about him. But is a biography a biography if it only says wonderful things about the person? Everyone has some not nice traits, or at least had at one time in their life.

Apparently, some of his friends read the book and were surprised that there were some things about Warren's personal life that were portrayed in the book that weren't particularly flattering.
Like a lot of things in life the truth is probably somewhere in the middle but I always kind of thought that Warren handled the situation regarding Alice somewhat poorly.

Warren Buffett frequently reiterated his rule of thumb on criticizing and complementing: Criticize only in the general (citing a role, etc); and complement in the specific (individual person).

I have found it to be a pretty useful rule of thumb myself, even if not strictly followed, certainly skewing in that direction. I would add a third element: When complementing in the specific, do so publicly (or with others witnessing) rather than only privately.

Warren embodies this well in practice, and not just conceptually. Try to think of a situation in which he criticized any individual. Can you think of even one? The rare exceptions are probably only David Sokol and John Gutfreund (Salomon Brothers Scandal, way back in 1991) and that's about it.

Indeed Alice was a biographer, but biographer or not, I imagine it boils down to this difference in exactly this particular value. For Alice (and, frankly, most people) it is simply normal to gravitate towards personal details of an individual in the analytical sense, but for Buffett it is profoundly out of bounds. So when he sees others doing it, he will consider it uncultured. Good on him for trusting Alice to investigate Berkshire Hathaway (which was how he framed the project when asked about it at an annual meeting - he viewed the book as chiefly about Berkshire than about Buffett) with values he would concur with, he took a risk.

It is, in theory, possible to be a biographer whilst not being analytical over normally private matters, or at least not digging into personal nuances, without diluting the substance of the biography. If you read a biography about Balakirev, there is a lot to criticize with his personality flaws, but far more to write about what he achieved, and the historical intrigue of the composing environment at that time.

But still, many people like personal nitty gritty, and Alice is writing for a large modern audience. Note that she exposed details about his unconventional marriage, strained family relationships, and psychological quirks. It could be argued that such things are common to millions of other random people, and not really causally relevant to his achievements. But again, she is writing the wide audience.

I can understand the situation from both Alice Shroeder's and Warren Buffett's perspectives.

- Manlobbi

As far as I remember, some time (more than half a year) after the book's publication, shortly before the annual general meeting, a dinner and interview with Alice and Warren was scheduled. This was canceled at short notice.

I don't think any content of the book was primarily responsible for the breakup; the circumstances (the last-minute cancellation) pointed to something else.

But what do I know?

Excellent analysis @Manlobbi! I am somewhat disappointed with Alice's biography because she never got to the bottom of the secret sauce of Berkshire despite being given unprecedented access to Buffett & his business materials. She veered off too much into psychoanalysis of Warren & his family so I could understand why Warren was not happy with Alice's work. I recall Munger being asked about Alice's book soon after it came out at Wesco meeting, and he curtly replied "she made a lot money from it" or something to that effect. I don't think Munger thought of the book highly either.

I don't think any content of the book was primarily responsible for the breakup

It almost certainly is.

With all due respect, Warren granted Alice full, unfettered access to his ENTIRE LIFE: everyone connected with him in any possible way--family, relatives, friends, business associates, neighbors--you name it every aspect of his life. Warren told her-its ALL fair game! He specifically advised Alice to tell the whole story and he emphasized don't hold back . Get it all.

Alice essentially relocated, gave up several years of her life and put on hold an extremely successful career. Alice was authorized to tell the Warren Buffett story, and she is the only one ever authorized to do so. No one on this planet outside his family knows the Buffett story better than Alice., And no one is even in the ballpark.

And here's the key point--from what I understand from more than one source: Warren really LIKED the book!. He even told Alice he though she did great. I'm told FRIENDS of Warren were outraged that Alice spent so much time on the mental health issues in the family. IMO Alice presented this as respectfully as one could. The context was entirely appropriate. And it was important to include. Like I said, I don't think even Warren was bothered by it-til I believe he was told he should be.

Warren was blown away by Alice Schroeder's analyst work at Paine Webber. Thats what GOT her this gig. A report she did there a little over 25 yeas was the single greatest report on Berkshire I've ever read, and it was absolutely groundbreaking at the time. She covered Berkshire better than all the other "analysts" combined.

I would like nothing better than to see them reconnect. I think the whole flap over the book was a really, really raw deal for Alice. Time heals wounds. She did a phenomenal job.

We can agree to disagree on this @LongTermBRK. A couple of things:

You fail to mention that Alice received a $7.2 million advance payment from the publisher to write the book on Warren, so it wasn't as much a sacrifice as you make it out to be on her part.

I will take the other side of the bet on Warren & Alice reconnecting.

Absolutely Agree!!! Loved Snowball and felt as awed by Buffett after the read as I did prior. All of us fall short and none of us should throw stones! She did an amazing job of revealing the man behind the curtain imo and I am grateful!

Let me suggest that you pay close attention to LongTermBRK'a comments. (caps are important - he's a different person than longtermbrk.) We connected some time back on the old AOL board days. I believe he's known Buffett, and been closer to him, far longer than the vast majority of us folks.

I agree with his comments. Alice didn't violate any confidences with Buffett, she gave him every chance to comment, and she chose to not shield important parts of Warren's life, particularly from the earlier years. These impacted him. In one sense, Warren is two different people depending upon whether he's emotionally involved/impacted or not.

Warren doesn't like criticism - his calling out his own mistakes is a defensive action on his part to avoid debate. So when uncomfortable/personally hurtful parts of his life were revealed in the book he took steps to avoid it. I do agree that cutting ties with Alice is part of these steps - he doesn't like conflict, and he doesn't want to trigger discussions on the points. He didn't have to ghost her as he did.

There are many clues if one doesn't avoid looking for them. Taking the Dale Carnegie was a transforming step in his early development - he says so. And he's mastered the subject. We rarely see his emotional side.

The unexpected early death of his first wife was one trigger. Early discussions about Buffett talked about his avoidance of thinking about his own death. Had he died suddenly instead of Susan, the transition plans for Berkshire could have been a mess. Susan was very liberal and would have controlled all the assets. That forced Warren to rethink his death and succession planning instead of avoiding it. And we shareholders have greatly benefitted from that sad event.

One thing Warren really enjoys is teaching - hence the annual meetings. Originally, back in the partnership days, these were to discuss his investing activities and ask questions. But only once a year. Now it has evolved to a massive interchange with admirers that he really enjoys And one that conveys little info in terms of BRK itself. I always felt that I got more solid info from Munger than I did from Buffett. He wants his privacy. How many "hard" questions does he really answer? It generally transitions to another subject.

His avoidance of conflict - unless absolutely necessary - is another clue. Berkshire operations will be much better managed under Ajit and Greg. However, I do think that Warren choosing to concentrate on investing instead of managing was a good decision on his part. His talents were much better utilized there. So there's two sides of the story.

Along this line, I think there's a pretty simple way to look at Buffett. He does things he likes to do, and avoids things he doesn't like to do. That covers everything from spending time with kids in early years to how he managed BRK. We shareholders have greatly benefitted from that. And I think he's greatly grown over his lifetime to becoming a more rounded person.

But he didn't like his private life being disclosed to the public - albeit after the fact.

I doubt many will care for my comments. That's OK. I do admire Buffett as a person in very many ways. And I've entrusted the bulk of our family's net worth to him. But I don't think he's a perfect individual, and there are aspects of him that I wouldn't want to emulate.

“ I doubt many will care for my comments. That's OK. I do admire Buffett as a person in very many ways. And I've entrusted the bulk of our family's net worth to him. But I don't think he's a perfect individual, and there are aspects of him that I wouldn't want to emulate.“ Thank you great post.

@Texirish said something that I believe in as well,

<<<< But he didn't like his private life being disclosed to the public - albeit after the fact.>>>

Just based on public comments, guess who else was greatly affected by this? Susie Jr! I read a comment from her that said something to the effect of “what worked between my parents is none of anyone’s business; no matter how unusual”.

I put myself in her shoes as a middle aged person and read something like this said about my dear parents, fifty years later after one of them has passed on. It would drive me crazy. And this wasn’t a stranger saying it. It was my @#$%*& ing surviving parent’s biographer.

No one's perfect I found the book touching, makes Buffett human rather than a stock picking automoaton.....no criticism

Those are very kind words from my long time friend, Texirish. What he said was nice, I've learned a LOT more from Tex than he's learned from me. And, of course, we've all learned the most from Warren the teacher.

As to the recent kind but opposing view on the Schroeder situation here -I considered responding with a personal story that could be taken as an attack on Warren--but decided initially against it. I mean--who am I? besides, I love Warren and his whole family.

But I think you can trust what Tex said about me and, without getting into specifics let me just say despite what I would call a good friendship there were a couple of not especially nice things Warren did that--well, while not truly awful--kind of haunted me after I left Omaha. I reached out to Alice years later who told me she knew exactly what I was talking about and while writing her book met several others who had similar adverse career impacting experiences. I got the distinct feeling Alice learned SOME really awful things among the MOSTLY wonderful lifelong gems she uncovered researching for the Book and really did a superb job. If you dig into every aspect of some one's life for years-no one is a Saint, right? Alice didn't want to hurt Warren, I believe she wanted to protect him. She LEFT OUT a number of negative things that weren't truly essential and probably would have sold more books. She's an incredibly decent woman who I've occasionally kept in touch with.

I thought long and hard about posting this--but it's to DEFEND Alice-- who I believe deserves defending.

Alice Schroeder only included the family mental illness information because it is a huge and RELEVANT part of the Buffett family's story. Families face challenges with major impacts. I think the mental illness parts demonstrated overcoming adversity --which Warren did marvelously. I mean whether it was Charlie's son's brutal illness or Warren's family's mental illness challenges these 2 titans could overcome adversity!

Tex is also spot-on with Buffett's tendencies and behaviors. Ghosting? I've seen it firsthand. He'd ghost people in PERSON 1 day, and best friends the next week. And for me, despite what I wrote earlier--I was invited by Warren and his late wife Susan to a wonderful event years later and had an amazingly sweet correspondence just 2 years ago. Yeah, it's complicated!!

Bottom line: Alice Schroeder is the special person Warren chose above everyone else to tell his life story! Warren the teacher, like for many of us here, is the most influential man in my life other my dad.


OK, maybe it's a long shot-- the 2 may never reconcile. But I hope they do. And Alice, to me, showed a TON of class in that MSN article even though she has every reason to be bitter. I feel very strongly Warren, who has mellowed a ton in 20 years--would love to talk with her. But I could be wrong. I've seen ghosting reversed :)

Thanks all, I’m getting the book tomorrow, I guess I have to read it while I’m resting my tennis elbow. “ The book "Snowball: Warren Buffett and the Business of Life" by Alice Schroeder has sold over 500,000 copies. The book was a bestseller and has been recognized as a work of outstanding financial reporting. “ Maybe the book will help me better understand a guy I’ve followed and trusted for 30 years. Understanding many of the people who have posted over the years would require a vaccine RFK would never approve 🎈🎈☮️

I'm a long time shareholder and admirer of Warren and especially Charlie (obviously enough)

I had a number of interactions with Alice online and in person after she wrote Snowball.
While I wasn't thrilled about the portrayal of one of my heros initially, I feel she did a very commendable job in a tough situation. At one point at the first or second annual meeting post publication... she asked if I knew what it was like to be hated. She was clearly being shunned for doing what Warren told her to do in terms of not using the most flattering portrayal.
And yes....I heard the exact same story that Warren initially thought the book was great, but several of his friends convinced him that he wasn't really seeing how differently he would be perceived after someone had read it.

I heard an interesting insight from Gad Saad recently. He said he thinks that in many cases the human mind has evolved to win arguments and instead of seeking the truth. That is certainly true in most political discussions.

One of the many things that drew me to the Berkshire "cult" (as Charlie use to jokingly call us) was the truth seeking and the rationality.
The world isn't usually right or left, black or white. It's grey.

As great as Warren is, he's obviously got his flaws, like all of us.

I once sent Charlie a copy of this book.
The subtitle is: The Compulsive Energy That Built a Nation

https://www.amazon.com/Americas-Obsessives-Compuls...

Warren isn't profiled, but certainly could have been. Ted Williams, Thomas Jefferson, Henry Heinz and others are. Alice just did a very detailed version of this book on one amazing guy.

I don't feel like it's taking sides to see things as they actually are, in all probability.

I heard the exact same story that Warren initially thought the book was great, but several of his friends convinced him that he wasn't really seeing how differently he would be perceived after someone had read it.

@mungerish and @LongTermBRK,

With all due respect, Warren doesn't come across as a person who cares about what others (even his friends) think. He repeatedly demonstrated that with his original/unconventional thinking on business, investments and in his personal life (for example marital situation). He once said his idea of making a decision is looking at the mirror. So it's highly unlikely that his opinion of Alice's book changed because of what his friends said.

But you both may know Warren better than me, so who knows? In either case, I respect your opinions and different people often reach different conclusions after reading the same book. And that's what makes life interesting.

I can tell you with 100% certainty he cares about his image.

He’s as honest as they come, he’s down to earth. Not an ounce of phony. Most trustworthy person you’ll meet. Won’t do anything to hurt his well earned reputation over a lifetime.

But he also cares 100% about his image. Image and reputation can be inter-related. Image, the extent to which it impacts reputation, is something Buffett is keenly aware of and protective.

As an example: Put it this way—you’re right he doesn’t care what you think about his hairstyle or his suit. But he does care are about portraying the image of someone who doesn’t care about his hairstyle or suit. And he’s a lot more proactive about that than you think.

He’s as honest as they come—yes. Everyone knows he protects his well earned reputation, most aren’t aware he protects his image fiercely. Alice could have written a chapter on this. She chose not to.

His legacy has been at the top of his mind for many years now from my observations.

I have to admit when I first came across Buffett in the early 2000's and read what he had to say and then read the book a decade later it raised a few eyebrows, it didn't sync with the image I had to initially but then as I get older you realise that's life.

Now that I received the book I remember why I didn’t read it the first time,I was waiting for the cliff note version. I’d like to try and better understand his reasoning on many critical issues hence I’ll read it.

His legacy has been at the top of his mind for many years now from my observations.

That's very understandable for someone nearing the end of their 70s, passing through their 80s, and well into their 90s.

It has been so interesting to read thoughts about Snowball by different members here. Especially so by those of you who knew Warren personally. Very interesting. What was written and what was left unsaid.

So maybe it's time for me to share my thoughts about Snowball? I didn't know Warren. But I THOUGHT I knew him. Via Lowenstein's book, Money Masters, Intelligent Investor, others, all shareholder letters since inception 3Xs, 85% in since 2000/2005.

So for those who don't know or forgot? Here's some background and chronology:

1. 1952. Warren and Susan married. Warren was 22 and Susan was 20. They had three children. Susie 1953, Howard 1954, Peter 1958.
2. 1977. Susan left Warren. To pursue a singing career in San Francisco, CA. They were separated for 27 years. They remained friends and traveled together. Susan attended BRK annual meetings, etc.
3. 1978. Susan introduced Astrid to Warren. Astrid was the hostess at the Omaha facility where Susan sang. Susan suggested that Astrid "take Warren some soup".
3.5 Subsequently as we all know, Astrid moved in to "take care of" Warren.
4. 1999. Alice Schroeder wrote her Berkshire Hathaway report for Paine Weber, the first professional analysis of Berkshire. 54-55 pages.
5. 6/2003. Alice Schroeder began research at Warren's invitation to write his authorized biography with access to all files, family, and friends.
6. 10/2003. Susan Buffett was diagnosed with oral cancer, treated with radiation, and had facial reconstruction. Warren was with her in CA every weekend throughout this treatment.
7.7/9/2004. Susan Buffett died of a cerebral hemmorage with Warren at her side in Cody, Wyoming at a friend's home. Warren was devastated.
8. 8/30/2006. Astrid married Warren.
9. 9/29/2008. Snowball was published by Alice Schroeder. 976 pgs.

It's an interesting chronology and difficult to digest. Provided as a reference.

I ordered four copies of Snowball prior to publication. One for myself and one for each of our three sons. I read the book pretty much straight through. I knew the Buffett family history from other published books. There seemed to be no new Berkshire analysis provided in Snowball which I was hoping to find. Alice was an analyis, afterall. And I felt like the "bait" thoughout the book was to keep you
reading to find out more about Susan's story.

After reading the book, I was so disgusted that I threw all four book in the trash. I didn't donate them to a library, or sell to a used book store. Done. Get rid of them.

Warren had three heroes: his father, Benjamin Graham, and Susan, his wife.

I don't think that Warren hired Alice to expose his wife Susan in the manner that she did. I don't think that Warren was aware of the situation regarding Susan either. Or he never would have hired Alice to write his biography in the first place. And I think that that type of a "tell all" should have been left until Warren had passed.

After publication of the book? I think I remember that Astrid said that she felt she had been HAD. I must have seen that on the old TMF Brk board. Christmas cards going out for years signed: Warren, Susan, and Astrid. Etc. Etc. Etc.

I didn't like the book, a bit. And it turned out that Warren didn't like it either. My take is that it was the exposure of Susan that turned Warren against Alice and her book. Nothing else.

It is so complicated. Warren and Susan and Astrid. I wish Alice had left Susan alone.

FYI:
Warren and Susan 1952-1977 = 25 years
Warren and Astrid 1978-2025 = 47 years

Astrid is the unsung hero, IMO. I get the immense importance of Susan to Buffet's life. HUGE. And I understand her leaving Warren after the kids were grown. But I didn't really want/need to know more about Susan. Not while Warren was still living. I think Warren was blindsided - by Susan AND Alice.

After all this discussion? I may just have to reread Snowball. :-)

I would appreciate it if any of you who knew Buffett personally? and posted about Warren's shortcomings regarding his personal relationships - would private email me. I don't understand. And I would like to understand.

Mary

I don't understand all this drama.

Susan left Warren because Warren wasn't a good husband. Yes, he provided resources, but was an absent father and husband. The kids said it. Susan said it.

So, after the kids were grown Susan left. But said she'd always be available to Warren for whatever.

Now remember, Warren is utterly incompetent around the house.

Enter Astrid. She takes care of the house and Warren while getting access to his resources. She knew what she was signing up for.

Is the Susan-Warren-Astrid thing unconventional? Sure. But it's not so outrageous it deserves it's own reality show.

I'm not certain of the reason for the falling out. I met Alice several times and liked her a lot. So I'm sad to say that I thought Alice made a definite misstep by the way she described the time surrounding Susie's death. It's important to be true and honest, but a little more discernment would have served Alice, her book and her subject better.

My heart goes out to them all. Being human has its challenges.

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