David Rosenthal: belief

Transcript context

…This is effectively an affirmative action type comment, where he's saying, we want to make an opportunity here for those who have been persecuted and discriminated against. Exactly, and this is 1952. World War II ended four years ago, and Graham was, I believe, British-European. He was born in Europe. It's a small firm, but they're like, hey, we're pretty committed to giving Jews an opportunity here. Warren is heartbroken, but not deterred. He goes back home to Omaha, decides, okay, well, if I can't join the Graham-Newman Partnership, I'm just going to set up my own partnership. I'm going to do it myself. Both Graham and Howard—Warren's dad—talked him out of it. They both say hey, you need some experience first working for someone else before you go and do your own thing. The natural thing to do is, why don't you go work for your dad's old brokerage firm, Buffett-Falk. Warren does, and he becomes the dreaded prescriptionist working for his dad, and he just hates it. He's getting paid on commission, selling stocks. The whole idea of, there's a roomful of people who are tasked with moving a stock and calling all their customers to say you should buy this thing. It's about the most anti-Warren Buffett thing I can possibly imagine.…

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