After 25 years of buying and supervising a great variety of businesses, Charlie [Munger] and I have not learned how to solve difficult business problems. What we have learned is to avoid them. To the extent we have been successful, it is because we have concentrated on identifying one-foot hurdles that we could step over rather than because we acquired any ability to clear seven-footers.
I remember the president-elect [Donald Trump] saying that I`m going to do something to dramatically, positively change communities, particularly in urban areas, and I think we`ve got to hold his feet to the fire to all those issues as well as all the issues that you addressed, you and many others addressed yesterday as it relates to criminal justice, as it relates to voting oppression.
He who is the servant of all is their true master. He never becomes a leader in whose love there is a consideration of high or low. He whose love knows no end and never stops to consider high or low has the whole world lying at his feet.
Someone who knows enough to become the owner of a tree, and gives thanks to you for the benefits it brings him, is in a better state, even if ignorant of its height in feet and the extent of its spread, than another who measures and counts all its branches but neither owns it nor knows its creator nor loves him.
You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?
And when one of you falls down he falls for those behind him, a caution against the stumbling stone. Ay, and he falls for those ahead of him, who though faster and surer of foot, yet removed not the stumbling stone.