Oh god, this was such a wonderful piece, thank you so much. I have learned so much from Buffett (and Munger) over the years, but people's lack of nuance/research mean that Buffett has become beyond criticism. So it is great to see someone who can both want to go to 'Woodstock for Capitalists', while acknowledging his shortcomings. The event itself sounds hilariously insane - I would love to have done it (esp. with Charlie) but can't really justify it, so thank you for the honest account.
Larry eating Honey Buns in a Motel 6 off the I-80 with a view of a corn field, never thought I'd see it. Seriously, what a trip and incredible that you got to "visit" him, not least because now you can mention this in every quarterly letter to clients for the rest of your career
"I think - like Munger did - that money management is a low calling. There’s nothing selfless, or innovative, or particularly value added about it. It’s a very stimulating and enjoyable game, made extraordinarily lucrative by the highly levered nature of capital. Many of us operate within a wrinkle of the broader economic system that dolls out disproportionate rewards for allocating capital well. That’s all"
Oh god, this was such a wonderful piece, thank you so much. I have learned so much from Buffett (and Munger) over the years, but people's lack of nuance/research mean that Buffett has become beyond criticism. So it is great to see someone who can both want to go to 'Woodstock for Capitalists', while acknowledging his shortcomings. The event itself sounds hilariously insane - I would love to have done it (esp. with Charlie) but can't really justify it, so thank you for the honest account.
Larry eating Honey Buns in a Motel 6 off the I-80 with a view of a corn field, never thought I'd see it. Seriously, what a trip and incredible that you got to "visit" him, not least because now you can mention this in every quarterly letter to clients for the rest of your career
lol'd hard
A very insightful read. Thanks for the honest assessment and your clarity of thought throughout the piece
A very refreshing take:
"I think - like Munger did - that money management is a low calling. There’s nothing selfless, or innovative, or particularly value added about it. It’s a very stimulating and enjoyable game, made extraordinarily lucrative by the highly levered nature of capital. Many of us operate within a wrinkle of the broader economic system that dolls out disproportionate rewards for allocating capital well. That’s all"
Never went, never plan to go but this is how I imagine it. A bunch of bootlickers and a bunch of empty suits just there to network.
Exactly my sentiments when I attended in 2022. Well written as always mate.
There was quite a lot of unexpected criticism and judgement written in this piece
Just my honest observation. Good event, and nice town, and a great man but it is what it is.