What is so abundantly clear is that the lack of transparency in derivatives trading, and the sheer complexity that is a by-product of that lack of transparency, really can make them "financial weapons of mass destruction."
When I started NSN, even some of my best friends thought I was losing it. The comment I heard the most was, "Newspapers are dying so why are you starting one now?"
The Berkshire Hathaway offer to buy the Media General newspaper chain should offer the industry a shot of long-term optimism. Buffett expects a profitable future for newspapers during the next couple of decades.
With the double whammy of questions surrounding Facebook's mobile revenue strategy and GM's dropping their Facebook advertising, a perfect storm is brewing before Facebook's initial public offering which could happen as early as this Friday.
I tried to identify the specifics of our disagreement, what assumptions both of us were making. And then tried to focus the discussion on these more precise points of disagreement. In the end we each learned from the other.
Mr. Buffett has told my students to try to be like the hockey great Wayne Gretzky. Instead of going in the direction of the puck, he went where the puck was headed.
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The multi-billionaire Warren Buffett recently pointed out that he's avoided tax for decades. Meanwhile he's accumulated massive wealth that he kept out of reach of the IRS. He insists that as a matter of fairness he should be made to pay more taxes too.
Buffett is a man of character, unequaled in the investment business. Sure, Berkshire has had its dips, but the greatness of Buffett the investor is his ability to hold back when markets become too rich, and then to pounce when fear is has replaced greed.
Warren Buffett and Charlie Munger's philosophy is as basic and old-school as their railroad investments. It's somewhat the same with their basic view of life; of working hard at what you love, not being infatuated with success and money, and giving back to your community.
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Is it too much to ask that people making over one million dollars in annual income pay a tax rate comparable to middle income Americans? Why is there one set of rules for millionaires and a different set of rules for the rest of us?
The filibuster rule trumped the Buffett Rule and the people lost once again. So, it's out with the old Buffett Rule that is Warren-based. And, in with the new Buffett Rule, that is Jimmy-based.
If Boomers want to continue the proud national tradition of handing off a better America to each generation, then it's time to rethink what it means to age.
Leadership is about empowering others and power expands the moment you share it.
Our nation is heading off a financial cliff, and both major political parties are in deceptive denial. It's time we as Americans put on our adult pants and started confronting the truth.