Alice Schroeder





Alice Schroeder


Born
Texas, The United States
Website


Ms. Schroeder was born in Texas, and she earned an undergraduate degree and her MBA at the University of Texas at Austin before moving east to work in finance. She is a former CPA and lives in Connecticut with her husband.

Alice Schroeder was a noted insurance industry analyst and writer who was a managing director at Morgan Stanley. She first met Warren Buffett when she published research on Berkshire Hathaway; her grasp of the subject and insight so impressed him that he offered her access to his files and to himself. Their friendship and mutual respect make her ideally positioned to write the The Snowball.


Average rating: 4.02 · 24,546 ratings · 790 reviews · 5 distinct works · Similar authors
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“On me personally what has been the most important was to understand the value of time -- and this is something that has come from observing him, learning his story and that time compounds. What you do when you are young (and as you use time over your life) can have an exponential effect so that if you are thoughtful about it, you can really have powerful results later, if you want to.

Also, that is a reason to be hopeful, because compounding is something that happens pretty quickly. If you are 50 or 60, it is not too late. He said to me one time, if there is something you really want to do, don't put it off until you are 70 years old. ... Do it now. Don't worry about how much it costs or things like that, because you are going to enjoy it now. You don't even know what your health will be like then.

On the other hand, if you are investing in your education and you are learning, you should do that as early as you possibly can, because then it will have time to compound over the longest period. And that the things you do learn and invest in should be knowledge that is cumulative, so that the knowledge builds on itself. So instead of learning something that might become obsolete tomorrow, like some particular type of software [that no one even uses two years later], choose things that will make you smarter in 10 or 20 years. That lesson is something I use all the time now.”
Alice Schroeder, The Snowball: Warren Buffett and the Business of Life

“Time is the friend of the wonderful business, the enemy of the mediocre.”
Alice Schroeder, The Snowball: Warren Buffett and the Business of Life

“He has a really consistent routine. He comes in in the morning at around 8:30. He reads five newspapers. He reads The Financial Times, The Washington Post, The New York Times, The Wall Street Journal, and The Omaha World Herald. Then he has a stack of reports on his desk from the companies Berkshire owns, and some trade press like American Banker or oil and gas journals, and through the rest of the day, he alternates between flipping through this stuff and then talking on the phone to people either who call him or who he calls. He never calls his managers; they can call him. He is really accessible, but he leaves them alone.

Then he has CNBC on all day long with the crawl, with the sound muted and if he sees his name cross along the bottom and they are talking about him, he will turn the sound on to find out what they are saying. That is his day. He doesn't do meetings -- there are no meetings.

Alice Schroeder

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