|
8994d8e
|
Buffett found it 'extraordinary' that academics studied such things. They studied what was measurable, rather than what was meaningful. 'As a friend [Charlie Munger] said, to a man with a hammer, everything looks like a nail.
|
|
charlie-munger
warren-buffett
measurement
meaningful
|
Roger Lowenstein |
|
2e56f74
|
The modern spirit is a hesitant one. Spontaneity has given way to cautious legalisms, and the age of heroes has been superseded by a cult of specialization. We have no more giants; only obedient ants.
|
|
spirit
warren-buffett
specialization
|
Roger Lowenstein |
|
f03232d
|
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?
|
|
warren-buffett
investing
|
Roger Lowenstein |
|
2b35498
|
Buffett does enjoy being a billionaire, but in offbeat ways. As he put it, though money cannot change your health or how many people love you, it lets you be in 'more interesting environments.
|
|
money
philosophy
warren-buffett
|
Roger Lowenstein |
|
d7f3339
|
Buffett's uncommon urge to chronicle made him a unique character in American life, not only a great capitalist but the Great Explainer of American capitalism. He taught a generation how to think about business, and he showed that securities were not just tokens like the Monopoly flatiron, and that investing need not be a game of chance. It was also a logical, commonsensical enterprise, like the tangible businesses beneath. He stripped Wall Street of its mystery and rejoined it to Main Street -- a mythical or disappearing place, perhaps, but one that is comprehensible to the ordinary American.
|
|
character
warren-buffett
capitalist
business
capitalism
|
Roger Lowenstein |