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Re: Warren Buffett gives away his fortune
Old 06-27-2006, 03:24 PM   #21
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Re: Warren Buffett gives away his fortune

I saw Charlie Rose interview Buffett and Bill and Melinda Gates last night. Buffett was very impressive. He says it's a lot easier to make money than to give it away.
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Re: Warren Buffett gives away his fortune
Old 06-27-2006, 04:59 PM   #22
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Re: Warren Buffett gives away his fortune

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Re: Warren Buffett gives away his fortune
Old 06-28-2006, 08:40 PM   #23
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Re: Warren Buffett gives away his fortune

http://www.usatoday.com/money/indust...t_x.htm?csp=34

in a related story larry ellison rescinds his gift to Harvard..... :
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Re: Warren Buffett gives away his fortune
Old 07-06-2006, 02:43 AM   #24
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Re: Warren Buffett gives away his fortune

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Originally Posted by Nords
Maybe Gates & Ballmer are studying ways for him to become the best @#%ing philanthropist on the planet, on a scale so huge and unprecedented that he can bury those g%$$^&ned wimps Ellison, McNealy, & Turner...
Bingo. I wouldn't be surprised if Ellison got wind of this and decided to withdraw his record setting Harvard gift just because Buffet and Gates stole his thunder. I happen to live less than 5 miles from Ellison's Woodside compound/home.... It's fun to think of him nearby, walking around in his samurai outfit, twirling an ancient sword, and visualizing revenge on his nemesis Gates.


I have a significant portion of my net worth in BRKB, and this giving plan pleases me. By spacing it out over 20 years he's blunting the shock that will happen when he stops managing actively. He is one of the few weirdos who tries to keep share price in line with intrinsic value, so even though there will probably be volatility when he moves on, I don't see it making much difference once things settle back down.
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Re: Warren Buffett gives away his fortune
Old 07-06-2006, 10:02 AM   #25
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Re: Warren Buffett gives away his fortune

The short version is that ellison was negotiating his gift with a specific person at harvard that he had a close relationship with, the usage of the gift had been thoroughly discussed and planned, and then the guy at harvard left and the new guy hadnt given ellison any idea of how his gift would be spent. So until such time as he could have a better idea of what they were going to do with his money, he withdrew.
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Re: Warren Buffett gives away his fortune
Old 07-06-2006, 01:43 PM   #26
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Re: Warren Buffett gives away his fortune

I read this recent interview with Buffett.* * Nothing really interesting about the interview, but I noticed that the editor included several notes saying basically "this is where WB went off babbling on some tangent."

I couldn't help but wonder if the greater risk to BRK wasn't Buffett's death, but him staying at the helm too long.

Also, I saw Bill and the kids last weekend at their secret waterfront getaway.* * (I scared him back into the house when he saw me approaching via paddle boat.)* *Now that he's retired, I hope he tries to get rid of that paunch of his.*
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Re: Warren Buffett gives away his fortune
Old 07-06-2006, 01:59 PM   #27
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Re: Warren Buffett gives away his fortune

Quote:
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I read this recent interview with Buffett.* * Nothing really interesting about the interview, but I noticed that the editor included several notes saying basically "this is where WB went off babbling on some tangent."
I couldn't help but wonder if the greater risk to BRK wasn't Buffett's death, but him staying at the helm too long.
I think any executive can overstay his welcome, whether he stays competent or not. And just because Buffett's giving it away doesn't mean he's giving away the reigns (so to speak)... that problem hasn't been solved yet.

I wonder what competence tests they use. Does he have to calculate a discounted future value before the board meetings can begin? Or will a simple game of bridge suffice?

I watched Bill, Melinda, & Warren on Charlie Rose. My FIL also worked that show for a number of years in the '70s & '80s, but it's the first time I've seen Charlie's schtick.

I'm gonna have to ask my FIL how it works, but I can't understand how Rose has stayed employed for so long and made so much money. He must be getting paid for his research skills or his contacts, because it sure ain't his ability to dress properly or speak clearly!

It's clear that Buffett is the quicker & deeper thinker and the faster guy with a punchline. He sees the humor in everything and he never stops chuckling. (In his situation, I guess I'd feel the same!) However he stutters at times and he actually has to close his eyes on camera once in a while to focus his thoughts. I doubt he's had any professional speech or presentation training-- what you see is what you get. He may say something to offend someone, and he'll apologize for the offense, but it never occurs to him to not say it in the first place. When everyone wants to be your friend (and pays $600K to have lunch with you) then I guess it never occurs to you to censor your own speech.

At this point in his life, Bill seems to be the complete opposite of Buffett. He's very quick with a response but it's usually the inoffensive media-appropriate public-consumption model, not what he's actually thinking. He's poised, polished, and probably a proud Toastmasters alumnus with a couple bezillion dollars of training. He cleans up good.

But when you watch the four of them, I believe that Melinda is the real brains behind the operation. It's hard to reconcile that with her "Bob" fiasco, but it's clear who's running the show today...
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Re: Warren Buffett gives away his fortune
Old 07-06-2006, 02:08 PM   #28
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Re: Warren Buffett gives away his fortune

Hmmmm

Perhaps we all have different skill sets?

heh heh heh heh
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