Warren Buffet’s counter-cyclical approach to business is marking him not only as the world’s richest man but also one of its wisest, according to Roger Ellis of Dale Carnegie Training.

“As with the dotcom boom, the Asian crisis of 1997 and virtually every other crisis of the past 50 years, Buffett saw it coming,” Roger says.

“Not only that: he railed against its causes, most notably the chaotic profusion of derivatives – ‘financial weapons of mass destruction’ in his words.

“The fact that the 78 year old from Omaha, Nebraska is now buying again - snapping up portions of Goldman Sachs and General Electric - is one of the few things reassuring the nervous markets.”

Roger notes that in his authorized biography, published last year, Buffet highlighted as a significant influence the Dale Carnegie Classic, How to Win Friends and Influence People. Buffet also took Dale Carnegie training in public speaking, which he calls “the most important degree that I have”.

Roger says Buffet applies Carnegie principles to hiring staff, “obessessed perfectionists like himself” who he is careful to trust and praise.

“He uses the same technique when it comes to negotiating the purchase of companies that he wants to own,” Roger says.

“(The biography) tells of several occasions (where) the vendors didn’t want to sell their business but were persuaded to do so by Buffet’s sheer reasonableness and charm.

“II wouldn’t dream of looking at audited financial statements,’ he would say. ‘Just tell me what you want and we will shake hands.’ ”