Billions of years ago, you were a big bang, but now you're a complicated human being. And then we cut ourselves off, and don't feel that we're still the big bang. But you are.
The workmen's revolution, with the terrors of destruction and murder, not only threatens us, but we have already been living upon its verge during the last thirty years, and it is only by various cunning devices that we have been postponing the crisis. The hatred and contempt of the oppressed people are increasing, and the physical and moral strength of the richer classes are decreasing: the deceit which supports all this is wearing out, and the rich classes have nothing wherewith to comfort themselves.
Over the years, Charlie [Munger, Berkshire Hathaway Vice Chairman] and I have observed many accounting-based frauds of staggering size. Few of the perpetrators have been punished; many have not even been censured. It has been far safer to steal large sums with pen than small sums with a gun.
Tis pleasant purchasing our fellow-creatures; And all are to be sold, if you consider Their passions, and are dext'rous; some by features Are brought up, others by a warlike leader; Some by a place--as tend their years or natures; The most by ready cash--but all have prices, From crowns to kicks, according to their vices.
I believe that when you stop renewing and are no longer open to change and the possibilities that continually unfold, you stop being alive and are just getting through the years. Transformation doesn't happen unless you're willing: It's your choice.
God is Dead; but given the way of men, there may still be caves for thousands of years in which his shadow will be shown. And we - we still have to vanquish his shadow, too.
You have to transmit to them what its like being in the theater. And it has to come from somewhere inside you and not by being like what somebody did last year.
The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.
The best business returns are usually achieved by companies that are doing something quite similar today to what they were doing five or ten years ago.
On the screen were some flashback shots of Daniel, Emma and Rupert from ten years ago. They were 12. I have also recently returned from New York, and while I was there, I saw Daniel singing and dancing (brilliantly) on Broadway. A lifetime seems to have passed in minutes.
Minutes, hours, days, months, and years,
Pass'd over to the end they were created,
Would bring white hairs unto a quiet grave.
Ah, what a life were this!