Trusting Buffett: Karma will have her way with the corporate thugs

Published on:

25 Jul 2014, 10:18 am

By Alec Hogg

OK, so I might go on about Warren Buffett too much for some people's liking. But his lessons are invaluable. And help steer my moral compass in an increasingly immoral business world. Buffett does his deals on a handshake. So do I. He tends to trust what people say, knowing that those who stick with him enjoy the benefit of a very loyal friend. Ditto.

Unfortunately it doesn't always work out. Yesterday, a handshake deal we'd spent months working on was suddenly pulled. Apparently, after five hours of "discussion" our (formerly) trusted partner buckled to "suggestions" by directors of a major corporation that owns part of its equity. Reason? They simply don't like it that Biznews, a start-up, remember, is considering a totally unrelated deal with one of the bully's competitors.

So we dust ourselves off and move on. Cheer louder next time the Competition Commission attacks the ugly face of capitalism. And trust a little more that, eventually, karma will have her way with the corporate thugs.