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Posts Tagged ‘Warren Buffett’

Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
  —  Warren Buffett
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On This Day In:
2017 Garden Dreaming
2016 Well, Maybe Not “No” Talent
2015 An Appetite For Life
A Trip To The Library
Great Expectations
2014 Pass The Soul
2013 Zapping Music And Art
2012 Not Quite Fantastic
That Kid Is Back
2011 Wolves At The Door
2010 I’m Feeling Patriotic… (Well, more than usual, anyway.)
Beating the Heat…

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Someone is sitting in the shade today because someone planted a tree a long time ago.
   —  Warren Buffett
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On This Day In:
2017 Wake Up
2016 I Like Dreaming
2015 Importance
2014 Unearned Humility
2013 Science Is Trial And Error
2012 Franklin’s Creed
2011 First Steps
2010 Home Ill…

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Predicting rain doesn’t count.  Building arks does.
   —  Warren Buffett
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On This Day In:
2017 Talent Hates To Move
2016 Looking To November
2015 It Isn’t The End
Prospero’s Precepts
2014 Friends
2013 Learning Bitter
2012 Remembrance, Minstrels & Going Off To War
May I Have More Happiness, Please?
2011 There Is No God, But God
2010 Another Running Book…

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We’ve used up a lot of bullets.  And we talk about stimulus.  But the truth is, we’re running a federal deficit that’s 9 percent of GDP.  That is stimulative as all get out.  It’s more stimulative than any policy we’ve followed since World War II.
     —  Warren Buffett
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On This Day In:
2016 Picky, Picky, Picky
2015 Another Limitation On Religion
2014 Enduring
2013 Tell Me More…
2012 Passing…
2011 Fake It ‘Til You Make It

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Yesterday, I completed the book: “Buffettology” (1997©) written by Mary Buffett and David Clark.  This is the book I thought “The Snowball” was going to be, but wasn’t.  This is the book that tells you how you too can make a lot of money (with certain qualifications).  All of the “tricks of the trade” – what to look for and why, and how to figure out if a company is going to make you money or not (and how soon it will do it).  It’s all here in this little gem of a book. I highly recommend it!!
The main author – Mary Buffett is the former spouse of one of Warren Buffett’s sons.  Nothing like making a little bread off the ex-father-in-law’s name…
Oh, about those qualifications…  It helps to start off with about 15 years worth of the average persons gross pay in the bank to start investing.  You also have to be quite obsessed with making money.  You also have to be able to live off of a fraction of your earnings until you start to really roll in the dosh – that means patience and a willingness to forego instant gratification.  But once you do these things, you can be well on your way to becoming quite wealthy – in 30 or so years.  Actually, if you follow the guidelines laid out in this book, I’d wager you’d be quite well off in just 10 or 15 years.
Anyway, as I said, this is an excellent read for anyone interested in working their way into a comfortable lifestyle and I highly recommend the book.  Forgive my snarkiness.  It’s actually a very good book with lots of great tips for investing and clear explanations for how to understand how you really make money work for you.
Family Notes:
Today, my son James turned 21 years old!  We had a small family meal (curry and rice) and he was off to be with his mates.  I cautioned him about no drinking and driving.
Work Notes:
It looks like there will be no Federal budget extension tomorrow – so I may be on furlough as of 11:59:59pm.  At the moment, the main sticking point seems to be will the government fund Planned Parenthood or not.  The Republicans say, no.  The Democrats say, yes.  So a budget in the trillions of dollars is being held up over cuts of only about $330 Million.  This is a tiny fraction of one percent of the total budget ($330 Million / $3.7 Trillion), but the Republicans insist this cut is worth shutting down the government for, because the line for cutting has to be drawn somewhere.  It should be noted, that when the Republicans had complete control of the entire Federal government – Congress, the White House and the Supreme Court (from 2001 through Jan 2007), they did NOTHING to end abortion or defund Planned Parenthood.  But remember, according to the Republicans, this is about the budget and saving America from future debt and bankruptcy.  It’s not about policy debates or living in a democracy where the majority view (elections) gets their way, but the minority view is respected and protected.  Remember also, the majority of Americans favor a woman’s right to choice and funding for Planned Parenthood.
The good news is I’ll have a lot more time for blogging!!

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And the Truth is, you are neither right nor wrong because people agree with you.  You’re right because your facts and reasoning are right.  In the end, that’s what counts.
 

–  Warren Buffett
(as quoted in “The Snowball” by Alice Schroeder)

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The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns.  That business is a compounding machine.
 

–  Warren Buffett
(as quoted in “The Snowball” by Alice Schroeder)

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