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MITSF - Reverse-Engineering Buffett's Thinking About Those Japanese Trading Companies
Mitsui & Co. Ltd.
When teaching creative journalism back in the 1970s I always told my students to be wary of pretending to get inside the heads of actual human beings. You can do that legitimately only when they tell you straightforwardly what they were thinking, and even then you have to pay attention to what their motivation might be in telling you.
This is not the problem with Warren Buffett. He rarely tells you his thinking in any detail, and when he does, it is generally long after the fact. In the case of Buffett, actions are the