David Senra

May 15, 2023

Warren Buffett's Favorite Founder: Rose Blumkin

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My top 10 highlights from the book:

Listen to the Founders episode on this book

1. There are several "Going Out of Business" advertisements from competitors's stores framed and hanging on the wall.

2. What is your favorite thing to do on a nice evening? Drive around to check the competition and plan my next attack.

3. The woman who never attended school and couldn't read or write was the recipient of some distinguished college degrees.

4. One question I always ask myself in appraising a business is how I would like, assuming I had ample capital and skilled personnel, to compete with it. I'd rather wrestle grizzlies than compete with Mrs. B. (Said by Buffett) 

5. When it comes to business, I could beat any man and any college graduate.

6. You were here for 37 years before becoming citizen. How come you waited so long? I was busy.

7. Business is like raising a child—you want a good one. A child needs a mother and a business needs a boss.

8. My hobby is figuring out how to advertise, how to undersell, how much hell to give my competitors.

9. They buy brilliantly, they operate at expense ratios competitors don't even dream about, and they then pass on to their customers much of the savings. It's the ideal business—one built upon exceptional value to the customer that in turn translates into exceptional economics for its owners.

10. There was no looking back. She just swung. (Also said by Buffett) 

About David Senra

Learn from history's greatest founders. Every week I read a biography of an entrepreneur and tell you what I learned on Founders podcast