//
Guy Spier, the chief executive of Aquamarine Capital Management, placed a bid of $650,100 to enjoy lunch with the multibillionaire.
"It was worth every dime", wrote Mr Spier in a Time magazine article, adding: "Buffett has made a point of doing business with integrity - and of working only with people who share his values."
He notes that Mr Buffett was criticised in the 1990s for refusing to invest in internet stocks and shares which were booming at the time and was later vindicated when the market's bubble burst.
Soon after the encounter, the eBay auction for next year's lunch with Mr Buffet was won by a Chinese money manager names Zhao Danyang who bid $2.1 million.
Reuters reported recently that stocks and shares in Mr Buffett's Berkshire Hathaway company have fallen 20 per cent from their most recent peak.
Become an independent investor with Knowledge to Action.
