Warren Buffett's $100 Dale Carnegie Course in 1951 Benefited Him for Life
Warren Buffett paid $100 in 1951 to take a Dale Carnegie public-speaking course, a decision he later credited with lifelong benefits. The only certificate on his office wall is from that course, completed in January 1952. Buffett, who had feared public speaking as a student, used the communication skills to teach investment classes and later to manage Berkshire Hathaway and its subsidiaries. He applied Carnegie's principles, including avoiding criticism and offering genuine praise, and even hired his course instructor. The course transformed his ability to address audiences.
The only certificate hanging on the wall of Warren Buffett's office is the completion certificate for the Dale Carnegie public-speaking course, which he finished in January 1952. At the 2011 shareholders' meeting, he said he paid $100 in 1951 to take the course, and the communication skills he learned benefited him for life. He recalled that as a student he was extremely afraid of public speaking, feeling uncomfortable every time he spoke in front of people. For that reason, he enrolled in the Carnegie course and began teaching investment classes at the University of Omaha to practice his expressive abilities.
As a child, Buffett read Dale Carnegie's "How to Win Friends and Influence People," and the principle "don't criticize, condemn, or complain" deeply influenced him. He subsequently put Carnegie's principles into practice as a systematic method, conducting statistical analysis, observing people's reactions, and tracking the results. He gradually applied these principles in his daily life, including paying attention to others, giving sincere praise, and avoiding direct confrontation. By high school, he had more friends and joined the Woodrow Wilson golf team. As an adult, he again enrolled in a Dale Carnegie public-speaking course. After paying the fee in New York, he gave up midway for lack of courage. After returning to Omaha, he saw an advertisement and enrolled again, finally completing the course. The course was held at the Rome Hotel, with about 25 to 30 participants. The instructor, Wally Keenan, was able to remember and say everyone's names. The course required students to practice different types of speeches each week to overcome the psychological barrier to speaking in front of crowds.
Starting at Columbia University, Buffett continued to apply Carnegie's communication methods while teaching investment courses. After returning to Omaha, he offered an investment analysis course for the fall semester at the University of Omaha, and later added two more courses: "Intelligent Investing" and "How Women Invest." His Carnegie course instructor, Wally Keenan, later joined Buffett's partnership. When managing Berkshire and its subsidiaries, Buffett used Carnegie-style methods such as attention and praise to treat managers, allowing them to operate independently without interference, and never criticizing or scolding employees. During the more than five years of the book's creation, Buffett did not interfere with the writing style, and the book was completed with the assistance of many people.