Thursday, November 22, 2007
Had another dream last night
I'm sleeping in bunches of 2 hours. The aches and pains keep waking me up. I think its the reason I'm dreaming so much more. Last nights dream is fading fast - but here is what I remember. I'm at a wedding (really) and its getting close to 11. The groom is finally on the dance floor after his new wife had been trying to pry him away from the bar for about an hour. He's all excited and at the stroke of 11 the DJ turns off the music, the bar pulls down a gate and the light go on. Party over. Wierd. Reminds me of the way limo drivers always tell the bride and groom they have to be at the reception by 4:30 or they will charge extra.
I study finance. Its a hobby. The reason is that in school they really didnt spend very much time teaching us about money. As far I'm concerned the more I know about how to handle mortgages, credit, taxes and my legacy the better off my children will be.
The god of investing is named Warren Buffet. The second richest man in the world.
Here are some very interesting aspects of his life:
1) Warren bought his first share at age 11 and he now regrets that he started too late!
2) He bought a small farm at age 14 with savings from delivering newspapers.
3) He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4) He drives his own car everywhere and does not have a driver or security people around him.
5) He never travels by private jet, although he owns the world's largest private jet company.
6) His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.
7) Warren Buffet has given his CEO's only two rules.
Rule number 1: Do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
8) He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
9) Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10) Warren Buffet does not carry a cell phone, nor has a computer on his desk.
11) His advice to young people: Stay away from credit cards and invest in yourself.
The article below discusses his opinion on the US trade deficit.
http://www.fhsu.edu/econ/rterry/Trade%20Deficit.pdf
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