Raise your hand if you believe that Warren Buffett, one of the world's richest and savviest investors, bought 20% of Moody's Corp. a few years back (he's down to 13% now) without even knowing where the company is headquartered. Or that he then only met the company's CEO once in the last few years, even as Moody's reputation (and market capitalization) cratered.
If you do believe it (you're not alone, btw, if you do: Congress apparently believed it, too, based on the blase reaction to Buffett's testimony there this week), ask yourself: What the....? You invested billions of a publicly held company (Berkshire Hathaway Inc.) into a risky position and then didn't meet the CEO or visit HQ?
I hate it when that happens!
