Comments on: Buffett’s Bio, Buffett’s Brain

By: BG’s Blog: The Ego Has Landed » Blog Archive » Warren B. is a true G(angster) and Oprah is the Devil

Wed, 07 Jan 2009 07:23:15 +0000

[...] severely digress. The point is I fell prey myself to author, Alice Schroeder hawking her book “Warren Buffet: The Snowball Effect and Business of Life” recently on NPR. I was [...]

By: steve e.

steve e. — Fri, 07 Nov 2008 09:24:47 +0000

Warren Buffett cannot possibly be as humble and engaging as he comes across on TV. You don’t become the richest man in the world by being so unfailingly gregarious. There must be a take no prisoners side to Warren Buffett’s personality.

By: myqee

myqee — Mon, 06 Oct 2008 06:16:22 +0000

David,
so what you are saying is that everyone should pay a flat dollar amount regardless of how much one makes for income? that is the most ridiculous thing I’ve ever heard. you would demand money from homeless people? also, the reason that the top 5% are paying the bulk of the tax burden is because income inequality is at a historic high. If we continued on this road, then only a handful of multi-trillionaires would be paying taxes and the rest would be paying zero — the reason would be that we, including you David, would all be peasants working for the few big land owners. I guess even then you would insist that people pay taxes — I wouldn’t know how without having an income but…

By: Peter Nelson

Peter Nelson — Thu, 02 Oct 2008 22:42:34 +0000

I’m hoping that one of your learned guests can explain the MTM concept to me and your main street listeners. Good idea or illusionary assets / profits? Thank you

In essence “mark to market” requires the components of a portfolio to be assessed at their market value. Since certain mortgages cannot be sold in this market their market value cannot be assessed so they are counted as zero.

Banks object to this because they say when conditions loosen up those mortgages will have real value – so it’s not fair to call them zero and it undervalues their portfolios.

Investors (like me) counter that as of NOW, i.e., in the current reporting period, if there is no market for those securities then their value really IS zero. So as an investor I want to know that. It’s pure speculation what they might be worth at some future date, but if a market ever does develop for those securities then that can be reported in THAT reporting period.

By: John Sheasgreen

John Sheasgreen — Thu, 02 Oct 2008 01:43:20 +0000

I would have appreciated knowing Warren Buffet’s (or other credible sources) view on the introduction of the buzz word / term “mark-to-market” by conservatives in lockstep for the past few days as one of “tools” not considered by Paulson, Bernake and others crafting the bail out / rescue plan. When I first heard the term on Sunday talk show rounds and repeated in “lockstep” I nearly fell off my chair. Sometime ago I watched a documentary about the rise and collapse of ENRON. The film claimed that ENRON’s failure was due to the company’s abuse of the “mark to market” concept that they pushed thru the SEC. In the October 6th issue of Business Week in Jack Welch’s collum he lists “mark-to market” accounting as one of the contributors to the current crisis. I’m hoping that one of your learned guests can explain the MTM concept to me and your main street listeners. Good idea or illusionary assets / profits? Thank you

By: J berlin

J berlin — Wed, 01 Oct 2008 15:55:22 +0000

It is interesting that Alice doesn’t know about the situation the caller just described, which was not positive. However, Alice just stated that she knows how he thinks. How does she come off the speak for someone else. I wonder how Warren would feel about this.

By: sally barngrove

sally barngrove — Wed, 01 Oct 2008 15:35:34 +0000

How strong an influence is Charles Munger, Warren’s friend, on his investment choices. I think that Warren credits much of his success to Charlie.

By: David

David — Wed, 01 Oct 2008 15:31:48 +0000

Tom:
On your mention of Warren’s take on the tax system. How is paying $25-50 million dollars in taxes (for 1 human being of 280 million American’s) equitable, while a another human being pays (yes 30%) but only $10K in taxes? This crap is what feeds into the ‘class warfare’ being shoved out to us on a daily basis. Why do 5% of Americans pay 95% of the taxes. My numbers may be off but not by much. Tell the real story Tom. Ask for the other side of the story please. Don’t be like NBC, CSB and ABC please please! Thank you.

By: dave heiserman

dave heiserman — Wed, 01 Oct 2008 14:53:07 +0000

ask Warren how “fairly” insurance is priced? especailly life insurance. did he make his first zillions by taking advantage of actuary tables vs the complexity of insurance policies to charge super huge premiums ??