Damian S. L. Yeo & L. C. Goh (DSLY)
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Thursday, October 9, 2008

Treasury Secretary in Warren Buffet

Though I am not American, I watch the second Presidential Debate twice. I must say am impressed with both Senators Obama and McCain. However I think Obama flares batter in terms of the economy issues such as the recent bailout rather than McCain. Nevertheless what impressed me most is when both seemingly agree that Warren Buffet is a good choice as Treasury Secretary. Here would mean the Finance Minister.

In the United States, the Treasury Secretary will be the fifth in line, the Prseident of the United States.

So who is Warren Buffet? We have been told that he is an investor, businessman and philantropist and is one of the world's most successful investors, and the largest shareholder and CEO of Berkshire Hathaway (a huge holding company that has diverse businesses.

He is ranked by Forbes as the second richest American with an estimated net worth of $50 billion as of September 17, 2008. He is noted for his adherence to the value investing philosophy and despite his immense wealth, he is careful and restraine in terms of how he uses his funds.

Interestingly, his 2006 annual salary was about $100,000, which is small compared to senior executive. Meaning though he may be so rich, he is never an overspender.

In 2007, he was also listed among Time's 100 Most Influential People in the World. This shows of people trusting him with their money as such in agreement would be a fine Treasury Secretary.

source : Wikipedia

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