Doug Henwood wrote:
>
> Buffet's worth, what, $5 billion? And what has his social
> contribution been? I'm no tobacco-basher, but he did say once that
> the beauty of tobacco investments is that cigarettes cost pennies to
> make, sell for dollars, have great brand loyalty, and are addictive.
> Inspiring. He's a good friend of Katharine Graham's, and a Malthusian
> too, I think.
He is an expensive parasyte, and he is also a hypocrite, since his entire fortune comes from those 'friction' costs he bemoans.There was no impication that there is anything to admire in him aside from his understanding of the financial markets. I said that he's the only mainstream commentator I know who dares talk about the financial industry's take as essentially dead weight, instead of blabbing about "increased financial productivity". No need to read anything more.
Who's Katharine Graham?
Enrique