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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (71394)	10/22/2022 6:30:18 PM
From: petal	1 Recommendation Recommended By Eric Bramble Respond to of 78717

Of course one should give it all away! One can't take it with one where we're one is going to end up eventually, anyway...! As soon as one reaches the point where one won't be able to easily spend it all without actively trying to – when one sees that the snowball has started accumulating momentum in an almost out of control fashion – one should to give it away. And ideally, begin to plan for how to best give it away well in advance of that moment. We can learn lots from Buffett, but I think he made a mistake in how to practice philanthropy. He should've invested in MSFT, not Bill & Melinda Gates Foundation..... He started thinking about what to do with all of his wealth long before he was even actually "de facto wealthy" – as soon as he realized that he almost inevitably would become so eventually. Still, he ended up not doing it remotely as well as he did investing, it seems. (Not blaming the guy, that's a very high standard to set for oneself... And lots fo people have tried & failed at "effective giving". Also, I don't know enough about these things and am probably ignorant.) Re: education, I think it's better to educate oneself. Today, one has almost endless access to knowledge at all times... Why have it distorted through a mouthpiece? That said, of course there is great value in having enthusing lecturers and having a physical place where one can meet peers and exchange ideas. That is perhaps even invaluable. But I do think that places like Yale and Harv are probably just like studio 54 night clubs, as Peter Thiel has pointed out better than I can: youtube.com Perhaps access to such clubs are invaluable too. Sometimes status symbols have real, almost tangible value. Personally, I hate status games. (Although maybe that aversion too is a status thing...? I.e. in my mind, the highest status is not caring about/being "beyond" status. Aaah well!) But to each their own. & re: mentors: they can be great. Sometimes they're hard to find though, especially in the flesh. Like Buffett's experience with Graham – he had to nag and nag for him to take him on, even though he offered to work for free, Graham saying "you're overpriced"... (Although eventually, of course, he got his way!) And again, with audio/video streaming so ubiquitous nowadays (online), one can have many mentors, and mix them at will... Like Munger always said, "make friends with the eminent dead"!