91–100 of 216 posts
Earlier quoted context omitted.
> Well, both, obviously. So, 95 with 1k?
that would imply you would live to 95 which is a gift by itself
Lucky guy: He managed to retire before having to reckon with the coming end of the Bubble Era. It won't be the same without him.
More than third of Berkshire valuation is now cash. Berkshire has $350 billion USD in cash and cash equivalents. They accumulate cash because they don't find enough things worth buying (all stocks seem too expensive for them). When the bubble bursts, there will be undershoot and Berkshire starts buying.
Earlier quoted context omitted.
Do they hoard unnecessarily, or do they hoard what they need to get through winter months, without much surplus?
They hoard instinctively. They can't count; they don't have a sense of "this is enough." They hoard until it gets too cold, then they hibernate/hunker down until it gets warm.
I suppose the trillionaire analogy would be they themselves investing money.
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> Let’s not forget Buffet also funded BYD significantly and is responsible for their growth, What is this weird nationalism? Investing in a company from a foreign country does not make you a bad (or good) person. There is no moral duty to make your own country the most economically powerful one.
> There is no moral duty to make your own country the most economically powerful one. No? Then why do we ask people to give their lives to make it a safe one?
For other countries, it’s because the nation state is the current agreed upon divider for certain things like borders.
To moralize nationalism is weird and anti-humanity.
Here's a person with integrity. They're very rare these days, especially amongst the wealthy.
Ask the railroad workers of BNSF about Buffet’s “integrity”. He’s responsible for them being rampantly abused. If you’re not familiar look up interviews with actual workers. They are asked to work insane hours and with little scheduling, and are unpaid when they’re waiting around. The (local) monopolization of the rail industry and constant lobbying against regulations by Buffet’s minions have let this continue to th…
Nothing wrong with any one investing in BYD or similar tech (vs any other investing). If anything, investing in non-“imperial core” companies seems to be a good thing to balance out unequal exchange and the global north and global south divide.
>Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior. >I write this as one who has been thoughtless countless times and made many mistake…
Keep also in mind that the cleaning lady and the receptionist usually know way way more about the insides of a company than an entire board of directors and managers ever will.
It is also extremely beneficial to your own health to be nice and friendly to the people who clean, prepare your food and aid your medical well being. They will remember. They will decide how to help you when you absolutely need it.
In general please always follow Wheaton's Law.
If only more billionaires would start sounding as aware as this 95 year-old one: > But Lady Luck is fickle and – no other term fits – wildly unfair. In many cases, our leaders and the rich have received far more than their share of luck – which, too often, the recipients prefer not to acknowledge. Dynastic inheritors have achieved lifetime financial independence the moment they emerged from the womb, while others hav…
I have found that it's incredibly hard to get successful entrepreneurs to acknowledge that a lot of their success is down to luck. I think it's got something to do with the Protestant Work Ethic - that if they were smart and worked hard then they "deserve" their wealth , but if they just got lucky they don't "deserve" it. So acknowledging that luck played an important part in their success gives them bad feelings, an…
>Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior. >I write this as one who has been thoughtless countless times and made many mistake…
I heard from folks in the room that the way 3G and Buffett came in to do layoffs at Tim Hortons was one of the most cold blooded things they've ever seen.
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They hoard instinctively. They can't count; they don't have a sense of "this is enough." They hoard until it gets too cold, then they hibernate/hunker down until it gets warm.
Squirrels don't really hoard in the sense trillionaires do ("gathering a great quantity for one's own private collection"), they take seeds and bury them all over the place, which is meaning #2 in the dictionary ("save in one's mind for a future need or use"). The squirrel and other animals eat them later, the 50+% nobody finds to eat can take root. That way, squirrels play an important role in seed dispersal for man…
They end up eating food buried by other squirrels as well as their own.
If only more billionaires would start sounding as aware as this 95 year-old one: > But Lady Luck is fickle and – no other term fits – wildly unfair. In many cases, our leaders and the rich have received far more than their share of luck – which, too often, the recipients prefer not to acknowledge. Dynastic inheritors have achieved lifetime financial independence the moment they emerged from the womb, while others hav…
I have found that it's incredibly hard to get successful entrepreneurs to acknowledge that a lot of their success is down to luck. I think it's got something to do with the Protestant Work Ethic - that if they were smart and worked hard then they "deserve" their wealth , but if they just got lucky they don't "deserve" it. So acknowledging that luck played an important part in their success gives them bad feelings, an…