Wow, not sure why this surprises me, but I guess I figured he would be like Charlie and keep working until he passed.
The difference is that Charlie didn't have his partner die.
Buffett to step down following six-decade run atop Berkshire
81–90 of 435 posts
Re: Buffett to step down following six-decade run atop Berkshire
#82I’m not sure if it’s originally his but a small talk by him about getting a car made an impression on me and since watching it it’s become a good motivator to stay in shape.
This seems like a good moment to share it.
Re: Buffett to step down following six-decade run atop Berkshire
#83Earlier quoted context omitted.
It's really a non-problem. Net capital inflows into the U.S. = U.S. trade deficit. The balance of payments is simply: Sales of assets – Purchases of assets = Purchases of goods – Sales of goods If you balance the trade, it means foreigners must stop investing into the US.
If you balance the trade, it means reduced foreign ownership of U.S. assets, yes, which means ownership of U.S. assets by domestic citizens will increase. One of the primary problems with an unbalanced trade deficit is that your own inhabitants are left with less wealth over time, as assets are sold off to fund consumption.
>which means ownership of U.S. assets by domestic citizens will increase
Which to be clear will be largely domestic oligarchs and other whales since the vast majority of domestic citizens in the US don't have enough capital to own any significant amount of assets, US or otherwise.
Re: Buffett to step down following six-decade run atop Berkshire
#84Buffet on Tariffs > “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done - I don’t think it’s right, and I don’t think it’s wise,” Buffett said. “The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago. There’s not been any…
Change in general, should always come gradually , that way the inevitable consequences rear their head early. Its the bold paintstrokes that topple the world on its side.
Obamas biofuels come to mind triggering the arab spring by raising bread prices.
Re: Buffett to step down following six-decade run atop Berkshire
#85It's kind of a damn shame a man like that was not tapped for any major economic position in the government. I don't know how men like Peter Navarro got so far. In a sense, all the money in the world didn't actually fulfill his true potential, and I say that with the utmost respect.
Warren Buffet has warned about the trade deficit problem since 2003 and has proposed an alternate solution called "import certificates" where exporters could earn them and sell them to the importers who must use them. This would result in an even trade balance. He admitted it's essentially a tariff by another name but a more fair and systematic one. In other words, he aligns with Peter Navarro in the problem but differs in the solution.
Re: Buffett to step down following six-decade run atop Berkshire
#86Earlier quoted context omitted.
I, similarity, can opt not to murder people. It is still an issue if others do it.
So you're saying it's no different than a murder complaining about murders. Hard to take him seriously when he doesn't himself pay more tax
> Hard to take him seriously when he doesn't himself pay more tax
Why? Advocating for a change doesn't imply that you need to act like that change has been made already.
For instance, I am a huge advocate for building out more sidewalks in my city. I don't currently walk everywhere, though, because the sidewalks today aren't suitable for that -- the change needs to be made first.
Likewise, I could donate all my spare money to the city to fund sidewalks, but this goes against my visceral sense of fairness: I am advocating for my local government to build sidewalks, not saying that sidewalks should be built by any means necessary and that I'm willing to foot the bill alone.
Re: Buffett to step down following six-decade run atop Berkshire
#87Earlier quoted context omitted.
It's really a non-problem. Net capital inflows into the U.S. = U.S. trade deficit. The balance of payments is simply: Sales of assets – Purchases of assets = Purchases of goods – Sales of goods If you balance the trade, it means foreigners must stop investing into the US.
If you balance the trade, it means reduced foreign ownership of U.S. assets, yes, which means ownership of U.S. assets by domestic citizens will increase. One of the primary problems with an unbalanced trade deficit is that your own inhabitants are left with less wealth over time, as assets are sold off to fund consumption.
>U.S. assets by domestic citizens will increase.
You think zero sum like accountant or land owner.
They money coming is invested for opportunities. There will be less opportunities for startups, less VC money. Less affordable loans for corporations to expand and invest.
Re: Buffett to step down following six-decade run atop Berkshire
#88Re: Buffett to step down following six-decade run atop Berkshire
#89Re: Buffett to step down following six-decade run atop Berkshire
#90Earlier quoted context omitted.
Buffet reminded me a lot of Angela Merkel. They stood clearly and simply for good moral judgment, fair systems and looked at the bigger picture to carry most people forward. They also based all their decision in facts, truth and science. They learn't their trades (economics & politics) over time and weren't afraid to adapt as times changed. Their slow and steady presence did more for equality and fairness than many o…
> They also based all their decision in facts, truth and science What? She shut down nuclear power plants to ramp up coal and Russian dependence. Idolizing people is rarely helpful.
She shut down nuclear power because of extreme pressure from the population. Tens of thousands protested around her office. Nuclear is complicated (and mostly fear driven) in Germany. Oddly enough the first exit was done under Schröder who is a russian asset. Makes you think.