Author Topic: Buffett's legacy  (Read 6739 times)

Vish_ram

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Re: Buffett's legacy
« Reply #20 on: July 29, 2020, 03:00:06 PM »
You are right, my comment was more about how he didnt turn to drugs or other vices.

On social side, Maybe he was more on asperger side

Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.


villainx

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Re: Buffett's legacy
« Reply #21 on: July 29, 2020, 05:13:24 PM »

I love newspapers.  I read at least two a day in print, and one online.  You have to sift through what is in the newspaper...weed out pertinent articles and those that provide little value.  It gives a very good perspective of what is happening in the world around you, and a very broad view of the world, business, science, technology, life, sports, entertainment...you name it! 

A book can provide useful information, but it may not be relevant or relate to the state of the world around you.  Hand in hand, books and newspapers provide a broad base of knowledge, and you never know which will come in handy on any given day, at any given point of time.  Cheers!

Thanks for the posting Parasad.  I read lots of books, but not a lot of newspapers.  I do skim WSJ about 2 times per week.  Parasad, what newspapers do you usually read?

Hmm... I guess I just don't enjoy reading newspapers.  I prefer a lot more curation, long form, analysis, opinions, stuff like that.  I don't want groupthink, but I like a strong voice.  Most normal newspaper reporting is just ... takes too long to give the main points, or are too broadly sentimental in its appeal. 

stahleyp

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Re: Buffett's legacy
« Reply #22 on: July 29, 2020, 05:15:40 PM »
Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.

I'm going to agree with Stahleyp here.  If you read Snowball, it is very obvious that Buffet is a subpar father.  Then there's the tidbit about how he would invite people to come visit and stay with him.  When people show up with their family from out of town, he wouldn't spend anytime with him.  He loves showing up his intellect, especially to females.  Alice talks about how his wife got jealous because he was showing off his intellect on the private jet.  Buffet was a klepto in his late teens.  I think one of his sons had a bit of klepto streak during his teens.  Peter Buffet gives talks about growing up a Buffet.  I think he really always want to carve out his own niche for his own work and not that he's Warren Buffet's son. 

Bill Brewster has talked about this quite a bit on Toby's podcast.

BG2008,

Can't we let this go? I, for one is a person, that'll never finish reading the "Snowball" through [from start to finish.] [I suppose I never will]. In short, Mr. Buffett is [after all] a male human being - not some kind of [male] saint -, with all the implications related to that.

perhaps I'm too hard but perhaps loving your wife and kids more than you love your business isn't too saintly. :P
Paul

BG2008

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Re: Buffett's legacy
« Reply #23 on: July 29, 2020, 05:28:06 PM »
You are right, my comment was more about how he didnt turn to drugs or other vices.

On social side, Maybe he was more on asperger side

Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.

I had a chance to ask Alice that Asperger question in person a couple years back, I regret not asking it.  In the grand scheme of things, I owe my investing career to Buffet.  Over time, I have come to really appreciate how impressive his writing and lessons are.  Relative to other wealthy and successful business personalities, he's a saint.  There is rumors that Larry Ellison uses his daughter's film company, which he bankrolls, to offer auditions to young ladies in exchange for you know what favors.  Pure rumors.  No proof.  Relative to your average father making $75,000 a year that manage to spend time with their kids, he can't hold their jock straps as a father.  I guess I have studied the man quite a bit that I can't help myself make these distinctions.     

Gregmal

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Re: Buffett's legacy
« Reply #24 on: July 29, 2020, 05:45:58 PM »
To each their own. Different people have different priorities. I remember relating tremendously to the section of the HBO doc on WEB when his wife was telling the story about bringing up the pot when she was sick. Sometimes, when you are a deep dive person, the lights are on, but mentally you're just somewhere else. But personally I'll never understand not doing everything you can to be there for your kids. After a certain point, money becomes meaningless. Its hard not to judge people who spend their whole lives rabidly in pursuit of it to the cost of many of the "finer" things in life. I would never trade the opportunity to experience certain things on my own terms for any amount of money. From time to time I get offers to go work for people in the city or at an office. While I'm always flattered, the response is always the same. "Can I pickup my son from Pre K at noon? Can I take my daughter to swim lessons at 2pm on Thursday? Your answer is my answer. Thanks though."

Of course, none of this means there isn't a boatload to learn from folks who do it differently. If anything, having the roadmap of people like Buffett, who dedicate their lives to certain causes(regardless of our opinions on their nobleness) make it somewhat easier for all those that follow.

longinvestor

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Re: Buffett's legacy
« Reply #25 on: July 29, 2020, 07:45:53 PM »
Buffett’s main legacy is laying low the Nobel Prize winning theory of the EMT. Frequently efficient but not always thing.

I can see the past 10 years of the edge of the Index and Buffett’s advanced age being the equivalent of running out the clock by the EMT’ers. They are already saying , see I told you so! Kinda like the 3,4,5 sigma events that they used in the past.

Giving up elegant theories and stopping to teach them not easy for the intellectuals. I hope there is a new generation of Graham and Doddsvillers just to keep peeing on them.

longinvestor

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Re: Buffett's legacy
« Reply #26 on: August 30, 2020, 04:45:53 AM »
Happy 90th Birthday to Warren Buffett! Enjoy a few extra Oreo cookies and ice cream soda!