Structuring deals

If I were to buy a farm and have someone run it for me, the deal I would make with the farmer in terms of what percentage of the crop he would get would be important. If I had someone managing an apartment building for me, my arrangement with him is important. It’s important not only in terms of how the profits will be shared, it’s important in assessing the person’s attitude. You want someone running a place that looks at you as a partner and not as an adversary, and at Berkshire Hathaway, we really look at our shareholders as partners.