Friday, May 12, 2006

Warren Buffett - Part Two

Meyer Kripke was a young Rabbi in Omaha, Nebraska. One night, he turned to his wife, Dorothy, herself an author of Jewish children’s books, and asked her a question from out of the blue. "Now that we are starting to save some money, perhaps we should invest it. It doesn’t make sense to leave it all in the bank", said Meyer. "Oh, you should give it to Susan’s husband, Warren, he seems like a smart investor", said Dorothy.

Well, of course, Susan Buffett’s husband was Warren, and his investment prowess is now legendary. When the Kripkes retired, they were multi-millionaires. They gave a good bit of their fortune to their alma mater (and mine) The Jewish Theological Seminary and the money was used to refurbish the Seminary Library Tower which was burned by an arsonist in the late 1960’s. The tower had been abandoned for more than two decades. It is now the Kripke Tower and is home to one of the finest collections of Jewish books in the world – thanks to the Kripkes and Mr. Buffett.

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