Why Warren Buffett Hits Like Ted Williams
My CNBC colleague, Darren Rovell, who writes the always-entertaining Sports Biz blog on CNBC.com, directed me to a Murray Chass piece that appears in the Sports section of the New York Times. It features an interview with Warren Buffett about one of his favorite subjects: baseball.
Included are Buffett's prediction that the Yankee's Alex Rodriguez will eventually top Barry Bonds' newly created career home-run record ("I’m going to be 77 in a few weeks, and I hope I’m here when he breaks it.") Buffett talks about meeting A-Rod after the slugger asked if he could "come in and talk." "We hit it off very well," says Buffett, who is a long-time fan and part-owner of a minor-league team in Omaha.
Buffett tells Chass he has no intention of buying into a major-league team, partly because he doesn't live in a "major-league city." Years ago, he even steered Bill Gates away from an investment in the Seattle Mariners.
And he recounts this bit of baseball wisdom he picked up from the great Ted Williams and has since applied to making money:
"What’s nice about investing is you don’t have to swing at pitches. You can watch pitches come in one inch above or one inch below your navel, and you don’t have to swing. No umpire is going to call you out. You can wait for the pitch you want."
Both Williams and Buffett have put some incredible batting averages into the record books.
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