I am concerned about Berkshire post-Buffett. Greg Abel as future CEO stands a chance of preserving the Berkshire culture of operating its businesses independently. However, it will become increasingly difficult without Buffet’s large vote, and, with the rise of index investing to resist short term pressures index investment groups. For now, I will continue to hold 30% of my liquid net worth in Berkshire and sleep well.
Einstein discovered beautiful equations, but their full utility only became apparent with time. That is the hope – not the guarantee – of crypto.
The US stock market index has not progressed since 1971 if you denominate the index in ounces of gold rather than dollars. This is true but neglects the role of dividends in driving stock market returns. Including dividends, the total stock market return is close to 4X that of gold.
Deutsch raises the question: “What is the basis for sustainability?” Should sustainability be based upon living standards of the 1800s or the 1900s or the 2000s? Or is sustainability the wrong approach? For Deutsch, the answer is not sustainability, it is infinite progress.
Whether for victory,
Or for knowledge,
What, for you, is the greatest debate?