BRKA Berkshire Hathaway Inc (class A)

By Nicole Friedman 

Warren Buffett sits in his Omaha office partway through HBO's new documentary on his life, thumbing through a decades-old manual of corporate reports.

"Is this like going through an old family album?" an off-camera interviewer asks him.

"Better," Mr. Buffett says, smiling.

"Becoming Warren Buffett," which airs Jan. 30, recounts the oft-told story of the legendary investor and philanthropist, mostly in his own words. The movie focuses on Mr. Buffett's family relationships, particularly with his first wife and his father, and the personal sacrifices he made while building his business empire.

Close Buffett watchers will find little to learn. Biographies and articles have retold Mr. Buffett's life story in detail. And the film doesn't devote much time to Mr. Buffett's investment decisions as chairman and chief executive of Berkshire Hathaway Inc., one of the largest companies in the U.S.

But the film introduces watchers who are unfamiliar with the " Oracle of Omaha" to Mr. Buffett and many members of his inner circle, including his three children, Berkshire Vice Chairman Charles Munger and philanthropists Bill and Melinda Gates. Director Peter Kunhardt previously made films about activist Gloria Steinem and former U.S. President Richard Nixon, among others.

The movie weaves together home videos and photos, news footage, dramatic re-enactments and animation. Interviews with Mr. Buffett in his office and a talk given at an Omaha high school provide most of the narration.

Despite the focus on Mr. Buffett's personal life, the billionaire doesn't provide much detail when asked about certain elements of his family history. He speaks warmly of his father, a former Republican congressman, but declines to elaborate when asked about their final conversation. (Mr. Buffett does say that one of his most famous business mistakes -- aggressively buying Berkshire shares in 1964, when the company was a New England textile maker -- came just a few days after his father's death. Though he eventually built Berkshire into a major conglomerate, the original textile business struggled and was ultimately closed.)

Similarly, Mr. Buffett tells many fond stories about his first wife Susie but says little about her decision to move from Omaha to San Francisco when he was in his 40s. The two remained married but lived separately until Susie's death in 2004.

"Well, she left Omaha in 1977, and there really isn't much to say about that," Mr. Buffett says. "The worst mistakes involve not understanding people as well as you might."

Susie, who appears via interviews she gave before she died, taught Mr. Buffett about civil rights and philanthropy, he says. The three Buffett children recall their parents living somewhat separate lives, as their father was consumed by his work. In one photo, young children play while Mr. Buffett reads a newspaper in the background.

Mr. Buffett's current wife, Astrid, isn't interviewed in the movie.

Mr. Buffett discloses more when telling stories from his childhood or talking about his charitable giving. He explains some of his key investing philosophies, including holding investments for a long time and staying within a circle of industries that he understands well.

The 86-year-old Mr. Buffett says his understanding of human nature has grown throughout his life. "I'm wiser in that respect than I was 40 or 50 years ago, even though I can't rattle off numbers the same way I used to be able to," he says.

He says he doesn't fear death and continues to love his work, before describing himself in characteristic financial jargon: "Physically, I'm pretty well depreciated," he jokes. "I'm getting down to salvage value."

Write to Nicole Friedman at nicole.friedman@wsj.com

(END) Dow Jones Newswires

January 11, 2017 08:08 ET (13:08 GMT)

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