Tuesday, May 22, 2018

From Alice Schroeder's The Snowball (2008), on Warren Buffett

Warren "Buffett was the one who enjoyed pleasing people... Whereas [Charlie] Munger wanted only respect, and didn't care who thought he was a son of a bitch." -- from Schroeder's The Snowball (2008) (hardcover, pp. 24)

"Life is like a snowball. The important thing is finding wet snow and a really long hill." 

"Spend less than you make" could, in fact, have been the Buffett family motto, if accompanied by its corollary, "Don't go into debt." (39) 

"School for the most part bored him... Warren's teachers found him stubborn, rude, and lazy. Some of the teachers gave him double black Xs, for extra bad." (82)

"Throughout his entire educational history he had shown little interest in formal schooling--as opposed to learning--and considered himself largely self-taught." (125)

"Warren particularly disliked buying houses, considering money spent on them as lying fallow, not earning its keep." (351) 

"Derivatives are like sex... It's not who we're sleeping with, it's who they're sleeping with that's the problem." (659)

"The purpose of life is to be loved by as many people as possible among those you want to have love you." (826) 

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