This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Buffett Wins the Ambiguous Man of the Year Award

NEW YORK (TheStreet) -- That the business oligarch Warren Buffett plays his cards close to his chest is a known fact. But, even to those who follow him closely to the extent of predicting his next move, his recent "controversy" over not voting against an equity compensation plan for employees of Coca-Cola (KO - Get Report) was a rather unexpected move.

Having always stood in stern opposition to "excessive" compensation in the corporate world, Buffett left both his supporters and opposers with a huge question on why he did  what he did.

His abstention, in more ways than one, helped get a generous compensation doled out to approximately 6,500 employees of Coca-Cola company; of which CEO Buffett's Berkshire Hathaway (BRK.A - Get Report) is the biggest shareholder. However, just a little while later, the CEO "expressed" his displeasure over the compensation plan, calling it "excessive." And that, with his abstention, he wanted to send a strong message that he was "not for it."

A rather curious case, isn't it?

>>Read more: Tim Cook's Biggest Failure at Apple

When quizzed as to why he stayed out of it, instead of being vocal about his opposition to the compensation plan, Buffett said he simply "didn't want to express disapproval to the management by voting against the plan."

Huh?

Loaded with huge dollops of ambiguity, this move by 83-year-old Buffett shows he is still the classy, astute businessman who will always cover his tracks, in my opinion. A seeded player, Buffett has known how to change the course of the game, without ruining his chances. To bolster his stand, Buffett at the annual meeting of shareholders of Berkshire Hathaway maintained that "going to war" wouldn't yield much and that his abstention sent an even stronger a message.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
BRK.A $215,800.00 0.00%
KO $40.91 0.00%
AAPL $128.95 0.00%
FB $78.99 0.00%
GOOG $537.90 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs