Buffet on Bubbleheads

[Carl Remick]

>pms wrote:
>
>>Charlie and I are disgusted by the situation, so common in the last few
>>years, in which shareholders have suffered billions in losses while the
>>CEOs, promoters, and other higher-ups who fathered these disasters have
>>walked away with extraordinary wealth," he said.
>>
>>http://timesofindia.indiatimes.com/articleshow.asp?art_id=3296714
>>
>>could he really believe this was an isolated few years?
>
>Fuck Buffett. He's one of the richest guys on earth, who once wouldn't lend 
>his daughter $10,000 when she was living in a trailer park, who denounces 
>the "greed" of others. His wealth is completely derived from speculation, 
>yet he's deemed by many, starting with himself, to be above all that. He 
>once described tobacco companies as the perfect investment because 
>cigarettes cost a penny to make, sell for a dollar, they're addictive, and 
>create great brand loyalty. He's also said the best investments are 
>monopolies or near-monopolies, like the one toll bridge from point A to 
>point B. Some sage.
>
>Doug

Ah, but Buffett *is* wise in everything Americans hold most dear -- knowing 
when to hold 'em, knowing when to fold 'em, all while being folksy, 
avuncular and self-effacing, albeit in a highly self-promotional way.

Carl

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