Word: buffett
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...Root of the Problems Warren Buffett, the nation's most successful investor, back in 2003 called these derivatives - which it turned out almost no one understood - "weapons of financial mass destruction." But what did he know? He was a 70-something alarmist fuddy-duddy who had cried wolf for years. No reason to worry about wolves until you hear them howling at your door, right...
...then, on July 28, Barack Obama held an economic summit with his covey of advisers - people like Bob Rubin, Larry Summers, Warren Buffett, Bob Reich; experts who seemed a sedimentary layer more recent than McCain's crowd but still more a part of the past than of the future. They had cleaned up the Reagan-era mess. They had actually balanced the budget and created a surplus. They had - contra voodoo - raised taxes and yet produced an economic boom. There was a fair amount of argument behind closed doors, I'm told, between the two groups that sparred...
...Politically, these people range from George McGovern to Pat Buchanan; culturally, from Tom Wolfe to Jimmy Buffett. They all acknowledge Thompson's role as a founding figure among the ranks of the new journalists, who, beginning in the 1960s, usefully challenged objectivity as journalism's reigning standard by intruding themselves - their opinions, their emotions, their rages and outrages - into their accounts of the way we lived, publicly and privately, in a very troubled time. The downside of their efforts - especially in Thompson's case - was a highly unreliable subjectivity. It was covered over by Thompson's stylishness and eventually subsumed...
...thing Buffett wasn't about to say no to was dessert. He delighted in sampling an array of them, telling the waiter: "Just bring a couple of spoons, and I'll have a little of everyone's." His zest for life is clearly undiminished - indeed, in Berkshire's latest annual report, he wrote that he and his octogenarian partner Charlie Munger "tap-dance to work...
What better role model could you ask for than this? And how do you put a price on the opportunity to spend nearly three hours in his company? Well, two days after our meal, the auction closed on eBay for next year's lunch with Buffett. The winner, a Chinese money manager named Zhao Danyang, bid $2.1 million. So, that proves it: our $650,100 lunch was a total bargain...