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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus who wrote (110187)	1/26/2015 5:38:10 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 218679

It's amusing that you causally correlate money with intelligence: <It never ceases to amaze me how thousandaires and millionaires such as yourself think they are so much smarter than Billionaires like Buffet> A buffet is what gluttons eat, a Buffett is a billionaire. <Buffet never gave himself excessive credit and was always frank about his failures. He is probably the greatest philanthropist in human history. > Perhaps, but I think of Irwin Jacobs as being a vastly greater one. He invented and brought into reality CDMA based mobile Cyberspace, when he could have just stayed retired in the early 1980s and played golf or something to amuse himself. The value he created, not single-handedly but he was the ring-leader and it might not have happened without him, is in the many $trillions in net present value. Buffett is a mere $billions guy dabbling in ice cream, insurance, Coca Cola, train tracks, etc. One invented the future. One made money from obesity. I replied to your comments which is why. <I dont get it.... ...WHY are you even making this an argument with me???> Actually, his wealth was built not on the backs of his workers, but on the backs of his customers who paid substantially more than the cost of the backs of the workers: <He said his wealth was built on the backbones of proletariats such as yourself... and that is why he is giving it back. He feels it rightfully belongs to those who created it. > You have probably misunderstood what he said because he understands things well enough to know where his profits came from, which was the difference between what his workers cost and what his customers paid. If he was worried about his workers' backs, he could have paid them more when their backs were flexing. I would certainly have appreciated it when my back was bending a lot. Giving it back to "society" some time after I have got old or died is not a lot of use to the people who created his wealth even if you think the back-benders created it. Or, he could have discounted his products so that what the buyers paid matched what he paid his back-benders. Jeff Bezos and Amazon don't make a lot of profits. Amazon keeps the money coming in matching the money going out. Buffett the great philanthropist did not do that. He piled it high on the backs of the back-benders and his customers, enjoying the profits of the inside track during the 2008 financial crisis by being able to swing deals with the government and desperate debtors. Mqurice