Warren Buffett and his company Berkshire Hathaway are legendary for their distinctive
investing approach. Yet many equally unconventional but less well known aspects of Berkshire's
managerial practices and organizational structure are rich with lessons for those seeking to
follow in Buffett's footsteps. Margin of Trust is the first book to distill Buffett's approach
to management and corporate life. It provides a definitive analysis of the tenets of the
Berkshire system its costs and benefits and how it can be adapted for other organizations.
Lawrence A. Cunningham and Stephanie Cuba develop a new account of how Berkshire Hathaway works
showing that the key to its success is trust. Profiling partnership practices and business
methods they contend that Berkshire's distinguishing feature is a culture in which autonomy
and decentralization are core management principles. Cunningham and Cuba provide instructive
examples of how this model has been successfully adapted by other companies that share a faith
in trust as an organizing principle. They also offer candid commentary on the risks of a
trust-based approach and how to mitigate them. Margin of Trust features illuminating analysis
of Buffett's take on the role trust plays in business agreements what Buffett looks for in
great corporate boards and what lies ahead for Berkshire after its iconic leader leaves the
Scene.
