Friday, March 02, 2007

My Warren Buffett Conflicts of Interest

Berkshire Hathaway has just released its annual report, so the journalism community is examining, as it does on on such occasions, the role of Carol Loomis of Fortune in editing said annual report and then writing about it.

Before I chime in on this subject, I need to first disclose my Warren Buffet conflicts of interest:

1. I am a customer of GEICO, and have been for twenty-five years. I have placed two or three small claims, all of which have been paid.

2. I am a consumer of See's Candy, and have been for four days, since I received a box of See's chocolates from a friend on the west coast. It is a two-pound box. A pound remains.

It is very good chocolate.

3. I met Warren Buffett once.

4. He once said something nice about an article I wrote.

5. I really like those chocolates.

Having disclosed my Warren Buffett conflicts of interest, I hereby chime in:

Yes, it is a conflict of interest for Carol Loomis to write about someone for whom she edits an annual report, even though disclosed. However, there are far more serious issues facing financial journalism than disclosed conflicts of issues.

P.S. It is very good chocolate.

© 2007 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site.

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