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f03232d
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Buffett's methodology was straightforward, and in that sense 'simple.' It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. 'Why should it be easy to do something that, if done well two or three times, will make your family rich for life?
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investing
warren-buffett
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Roger Lowenstein |
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95c804d
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Does a population have informed consent when that population is not taught the inner workings of its monetary system, and then is drawn, all unknowing, into economic adventures?
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finance
financial-mishap
government
ignorance
investing
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Frank Herbert |
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6330ab9
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In this day and age it's really stupid to be stupid about financial matters. It doesn't do you any good to make money if you don't know what to do with it other than spend it.
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investing
lesson
lessons-learned
money
saving
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Maria Shriver |
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fe08459
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Bundy sternly tool his fellow endowment fund managers to task - not for being too bold, but for being insufficiently so: We have the preliminary impression that over the long run caution has cost our colleges and universities much more than imprudence or excessive risk-taking.
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investing
risk-taking
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Roger Lowenstein |