Will the wisdom of Warren Buffett translate into German?

Matthew Lynn wonders whether the world’s greatest investor will be able to pick winners in continental Europe the way he has for more than four decades in the US

If Warren Buffett had not become famous as the world’s richest man — a career choice that trumps most alternatives — he could still have carved out a niche for himself as a writer of homely lessons in economics and business. The Sage of Omaha, as Buffett is known for his uncanny knack of calling the markets right, has always been able to explain his decisions in simple language. Buffettisms such as ‘Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1’ and ‘Only when the tide goes out do you discover who’s been swimming naked’ have become common currency in the financial world. Indeed, investors have learned to appreciate them almost as much as the decades of virtually unbroken outperformance by Buffett’s holding company, Berkshire Hathaway.