Buffett: I believe the odds are good that global warming is serious. There’s enough evidence that it would be foolish to say there’s a 99% chance it isn’t a problem. In this case, you have to build the ark before the rains come. If you have to make a mistake, err on the side of the planet. Build a margin of safety to take care of the only planet we have.
Social Security is very successful. Apart from disability – a small part – there’s almost no fraud; it’s hard to fake being dead. (Laughter) It rewards work, it’s low cost. It’s one of the most successful government programs ever.
Buffett: A very substantial fraction of American businesses over the last 15 years have managed earnings. We felt good about the quality of the businesses and the quality of the managements, but it was primarily the terms of the GE and Goldman deals that made them attractive. There were no second sources to GE and Goldman. I know the GE and Goldman CEOs quite well and am very happy with the deals. We’ve done a lot of business with Goldman over the years.
WB: We will see financial mayhem from time to time. People do crazy things. I would argue some of the problems were caused by the prevailing conventional wisdom taught in business schools. I’m not positive about modifying madness of man from time to time. Regarding the first part of your question, getting good financial habits early in life is important. Not everybody gets that. Andy Hayward, who did Liberties Kids, has created the Secret Millionaires Club show. If we get to 2-3% of kids with better habits it will be good for the world. We will take Ben Franklin’s ideas and make them entertaining for children’s stories. It is good to have smart learning at elementary level, that is better than advanced degrees at graduate level.
[On December 17, 2001, Berkshire Hathaway announced that it was acquiring Albecca (known as Larson-Juhl), the nation's leading provider of custom picture frames. Buffett was asked to talk about this business (these comments are from the annual meeting, plus those made at another presentation):]
Forty-eight letters to shareholders later, the same share traded for $134,060, compounding investor capital at just under 21% per year – a multiplier of 7,448 times.
This book compiles the full, un-edited versions of every one of Warren Buffett's letters to the shareholders of Berkshire Hathaway.
Trippers and askers surround me,
People I meet, the effect upon me of my early life or the ward and
city I live in, or the nation,
The latest dates, discoveries, inventions, societies, authors old and new,
My dinner, dress, associates, looks, compliments, dues,
The real or fancied indifference of some man or woman I love,
The sickness of one of my folks or of myself, or ill-doing or loss
or lack of money, or depressions or exaltations,
Battles, the horrors of fratricidal war, the fever of doubtful news,
the fitful events;
These come to me days and nights and go from me again,
But they are not the Me myself.
Selected, Arranged, and Introduced by Over the years, I have read several of the essays that Warren Buffett included in Berkshire Hathaways annual reports.
And if there is anything you would have someone do my Buffett, Warren E., 1930-The Essays of Warren Buffett: Lessons for Corporate America / selected, arranged, and introduced by Lawrence A.
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Robert said: Cunningham organizes the essays within seven sections between Buffetts Prolo The Paperback of the The Essays of Warren Buffett: Lessons for Corporate America by Warren Buffett, Lawrence A.
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Warren Buffett 1 Frugal Billionaire 1 pdf (108.7 Kb Buffett said that his own personal favorite is a collection of his essays called The Essays of Warren Buffett, which Free Warren Buffet papers, essays, and research Warren Buffett saw his father Howard Buffett’s views on life and would come to model his own off of the