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Why Buffett doesn't ask his friends for favors

Buffett & Munger2003-05-03videoOpen original ↗

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SpeakersQuestioner1Warren1
QuestionerSeveral weeks for now, I'll be before Governor Bush with the friends of Cypress Gardens. We have a website trying to keep a developer from clear-cutting the trees in Cypress Gardens, the National Treasure. And my question is, would you consider contacting your cousin, Jimmy Buffett, about possibly helping us in some way?
WarrenI get asked to contact, probably the one I get asked to contact the most is Bill Gates, but I get asked to contact all kinds of people. Everybody is slipping me envelopes with letters in them, sending things to the office and saying, won't you get this person, you know, all they can say is no. I don't do, I don't make requests of my friends, basically, for anything. And I just, I would spend the rest of my life doing it. They would feel I would never know, you know, what they were doing, you know, I would never know what they were doing because I was asking versus what they really felt. I mean, it's an impossible, from my standpoint, at least, that's an impossible. game to get into, in terms of, I mean, when Kay Graham was alive, everybody, you know, wanted her for one reason or another, and they've all got causes, and frankly, they, you know, they want to use me to get her, or Jimmy Buffett, or whomever, to say yes to something that they're saying yes to partially because they feel they don't want to say no to me. And I, you know, that, I just don't want to use my friendship for that, for that purpose, frankly. And I don't do it even for things that I strongly believe in myself. I've never had one of those honorary dinners where they send out, you know, to all those suppliers to Berkshire and everything, I started leaning on them and saying, you know, we're honoring warrant. Well, hell, if they want to honor me, they can honor me without soliciting all my friends for money. I mean, I don't consider that much of an honor if the reason they picked me was because I got rich friends. So I just don't do that.