Everyone's favorite grandpa👴🏻👴🏻
#62
We made it to Friday! But don’t forget Monday is just two days away. So what’s been on my mind today? —>How did Warren Buffet become one of the greatest investors of all time? To answer myself, I re-watched this HBO documentary on his life and skimmed my notes on his biography, Snowball. Watch and read too, and you’d also get a good understanding of the man.
He seems to be all round nice guy! Like I actually want him to be my grandpa. So chill. And I’m sure there are very few people who don’t like Warren. He just doesn’t seem like someone you can argue with. He’s always smiling, grabbing hamburgers, chatting away on the phone with Bill. Regular old people stuff. Who wouldn’t love a cool grandpa? But is this all packaging? Yep, I think packaging has a lot to do with it. “Niceness” is his persona. And I’m not even mad about that, good for him. He might actually be a nice guy, but I think he’s forming a bit.😂😂
Found the below, I think, on James Altucher’s blog. I’ll be posting more on Warren in the next couple of days.
Warren Buffett is everyone’s grandpa. He has folksy wisdom like: “When hamburgers are cheap, buy them. Why do people buy stocks when they are more expensive?”
Or, “Long ago, Charlie [Munger] laid out his strongest ambition: All I want to know is where I’m going to die, so I’ll never go there.”
Nice and folksy way of saying, “life is uncertain but you can’t worry about that uncertainty.”
Using this folksy wisdom he has been an advisor to the CEOs of the biggest companies, Presidents, other billionaires, etc.
Why be an advisor? To get deals!
Part of his persona is to be relatable.
He focuses on his small house in Omaha but he never mentions he used to have an enormous mansion in California.
He focuses on the fact that his kids will inherit nothing but he doesn’t mention he gave them each a $3,000,000,000 (three billion!) charitable foundation.
With a charitable foundation like that, they can take a salary of tens of millions. year.
And because these were set up as charities, when Buffett dies, none of his kids will have to pay an inheritance tax. (Take notes here!)
Nor will Buffett pay the enormous estate tax that every other rich family has to pay because he has pledged to donate the remainder of his money to Bill Gates charity.
I am not saying this is not a generous thing to do. It is very generous. But it does mean I will not listen to what Buffett says about taxes since he has done a very good job at avoiding them.
Also, since it’s Friday and no one wants to read any articles (🙄🙄), here’s a list of podcasts suggested by Kit.
Happy Face: Melissa Moore, the daughter of infamous serial killer Keith Hunter Jesperson (aka the Happy Face Killer), explores her father’s crimes as well as her own feelings about what it means to be the daughter of a psychopath.
Dirty John: Dirty John, which you’ve probably heard about because it inspired a Bravo series and an Oxygen documentary, tells the story of a con artist and the downward spiral of his abusive relationship with his wife and her daughters.
Man in the Window: The Golden State Killer: A Pulitzer Prize-winning investigative reporter, Paige St. John, takes a deep dive into the personal and early life of the man who would become one of the world’s most notorious serial killers: The Golden State Killer.
And Dubs recommended this video. Yet to watch but anything she sends me is very worth it. Elena Cardone on Building an Empire, Self-Worth & Parenting (TDE #324)
📱📱Quote of the day
“For everything, there’s a season and a time. A time to sow and a time to harvest. But what is often overlooked is the waiting time and I like to call that the preparation and patience phase.” - PS-O.
Remember folks: “Until the lion learns to write, every story will glorify the hunter.”