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FIB - Scams 101 - Ye Olde Archives
Posted By: Dennis Bevers <bassco2@bellsouth.net> In Response To: Actually, Warren Buffet has NOT embraced Network Marketing/MLM (Mel. White)
Monday, 5 December 2005, at 9:33 a.m.
> Sorry... that's an urban legend. Check it out for yourself -- you won't
> see anything in a quote about "I love MLM." Nothing in his
> portfolio is MLM, he doesn't invest in them, and he doesn't write about
> them in his books. He doesn't participate in them, either.
> Sorry... that's an urban legend. Check it out for yourself -- you won't
> see anything in a quote about "I love MLM." Nothing in his
> portfolio is MLM, he doesn't invest in them, and he doesn't write about
> them in his books. He doesn't participate in them, either.
I did check out Snopes because I had heard that his Bershire Hathaway portfolio acquired Pampered Chef back in 2002. It did, so he does believe this MLM company is a good investment for his portfolio stockholders. It doesn't mean he is going to be starting new MLMs or participating as a distributor.
Warren Buffett would be crazy to knock MLM, while depending on the Pampered Chef "Kitchen Consultants" to keep the profits rolling in.
I do know a bit about this company as my daughter has hosted a party and both she and my wife love the products.
Pampered Chef is very much along the lines of Tupperware with the direct sales via home parties as their primary distribution method. And, yes, they do reward their distributors for building a downline of recruits.
This is one case were just referring to Snopes.com as a source for debunking doesn't end the story. You have to check out the link to see that the Snopes story is actually about whether he and Bershire Hathaway support birth control and abortion. He does, but the portfolion does not directly donate to Planned Parenthood or other abotion providers.
> Here's what he DOES own:
> http://www.buffettsecrets.com/berkshire-hathaway-holdings.htm
And next to last on the list is Pampered Chef, a home-party distributor of kitchen accessories which uses the MLM model.
Sorry to bust your bubble Mel., but this one is true.
Dennis Bevers
My home-based bizopp alternative to MLM
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