Warren Buffett by In His Own Words
Author:In His Own Words
Language: eng
Format: epub
Publisher: Agate Publishing
Published: 2019-09-14T16:00:00+00:00
PART TWO: WEALTH
Personal Wealth
POSSESSIONS
I have every possession I want. I have a lot of friends who have a lot more possessions. But in some cases, I feel the possession possess them, rather than the other way around.
âCBS News, February 8, 2012
THE FREEDOM OF WEALTH
I like to be inventive. I want to be able to do what I want to do every day. And money lets you do that.
âCBS News, January 20, 2013
MONEYâS MAGNIFYING POWER
WHAT MONEY DOES is magnify you. Whatever kind of person you are going inâand age does this too as people get olderâit magnifies both ⦠good and bad tendencies. Money gives you a chance if youâre a slob to be a big slobâa huge slob. On the other hand, if youâre inclined toward doing good things, it gives you the power to do a great many great things.
âGeorgia Tech Alumni Magazine, Winter 2003
WEALTH AND SATISFACTION
AS PEOPLE GET wealthy here, they start casting their eyes about, and they donât get more satisfied. Sometimes they get more dissatisfied. Thatâs happened in the United States. Right now we have six times the GDP per capita, in real terms, as when I was born. Now, I donât know whether people are happier now or more discontent or what than they were in 1930. But people have a way of adjusting very quickly to things becoming better, and then any little tiny adjustment downward they can get quite unhappy about.
âCNBC, November 14, 2011
THE SOURCE OF BUFFETTâS WEALTH
My wealth has come from a combination of living in America, some lucky genes, and compound interest.
âThe Giving Pledge
THE SOURCE OF BUFFETTâS WEALTH
WHEN WE GOT married in 1952, I told Susie I was going to be rich. That wasnât going to be because of any special virtues of mine or even because of hard work, but simply because I was born with the right skills in the right place at the right time.
âFortune, June 25, 2006
INHERITANCE
IF A KID comes out of the right womb in this country, they have got food stamps for their rest of their life. They just call them stocks and bonds. And their welfare officer is their trust officer.
âPBS NewsHour, June 27, 2017
INHERITANCE
A very rich person should leave his kids enough to do anything but not enough to do nothing.
âFortune, June 25, 2006
INHERITANCE
NEITHER SUSIE NOR I ever thought we should pass huge amounts of money along to our children. Our kids are great. But I would argue that when your kids have all the advantages anyway, in terms of how they grow up and the opportunities they have for education, including what they learn at homeâI would say itâs neither right nor rational to be flooding them with money.
In effect, theyâve had a gigantic head start in a society that aspires to be a meritocracy. Dynastic megawealth would further tilt the playing field that we ought to be trying instead to level.
âFortune, June 25, 2006
INHERITANCE
WEALTH IS JUST a bunch of claim checks on the activities of others in the future. You can use that wealth in any way you want to.
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