Buffett is a jerk

The truth hurts. Buffett can never run for office because he tells the truth.

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Nonsense, he says what is in his best interest, like any good capitalist would. If it happens also to be the truth... Well that's just a happy coincidence.

Frankly, dire predictions of the future cannot be called either true or false in my opinion.

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How do you know that it isn't the other way around? He speaks the truth (or at least his perception of it) and invests accordingly, just as any good capitalist would. That would make the coinciding of statement and truth nothing more than the result of good observation skills (which one expects of a good investor).

Hence the saying: put your money where your mouth is.

Mark Freeland snipped-for-privacy@nyc.rr.com

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Because he is one of those few who are in a position to *make* the future with his words. That is the point the OP was trying to make.

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I think Daniel was referring to John Stuart Mill?s concept of "h*mo economicus" and/or Adam Smith's "invisible hand" metaphor from Wealth of Nations.

In essence, a rational capitalist will act in his own best interest and by doing so will inadvertently act in the best interest of society as a whole. The simplest example is that a seller ordinarily tries to get the highest price for his good or service and a buyer tries to pay the lowest. The end result is a market equilibrium price. Real life tends to be much more complex, however.

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Hello everybody,

and what do you all thinks of his ideals toward diversification?

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Yes, but the 30 individual companies you have in that particular index fund may be all large cap, or all value, or all small or all domestic, or whatever (depending on the index you have). You would need to get a total stock/bond domestic/international index fund to capture some of all categories. 30 companiesis not enough, I'm sure. Here's an analogy--you might want to diversify your wardrobe so you buy 30 different colors and styles of shirts. But they are still all shirts, right? No pants or socks or anything else.

SandyBeth

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