Warren Buffett on Luck
WARREN BUFFETT:I was lucky. I was born in the United States. The odds were 30 or 40-to-1 against that. I had some lucky genes. I was born at the right time. If I’d been born thousands of years ago I’d be some animal’s lunch because I can’t run very fast or climb trees. So there’s so much chance in how we enter the world. And –
LIU: And you were always aware to make sure your children and their grandchildren, and your grandchildren would be grounded.
WARREN BUFFETT: Yes. And we’re not – how you came out of the womb has really nothing to do with what kind of person you are. You decide what kind of person you’re going to be. It does decide whether maybe you never have to do an item of work in your life and maybe determine whether you’re fighting uphill all of the time, but where in my life, in my eyes is we’re all created equal, and but we don’t all have an equal opportunity by a longshot. –from BI
Linkfest:Oct 24,2013
Some stuff I am reading today morning:
Reading the Dalal Street tea leaves (Mint)
Car,bike registration tax (FE)
What Radia tapes alleged about Reliance Power (BS)
Rising NPAs a worry for the banking sector (ET)
RBI collects $10 Billion from FCNR window (CapitalMind)
Reverse mortgage story (Subramoney)
Warren Buffett:Why I did not buy the Washington Post (Fortune)
How many monkeys does it take to find a successful strategy? (AdvisorPerspectives)
5 Things super successful people do before 8 am (Forbes)
3 Reasons active mutual funds suck these days (TRB)
“The corporate world is shocked because of the way the CBI has filed an FIR against Kumar mangalam Birla in the Coalgate matter. And in a way, a few voices against the Congress are raising their voices. Its first effect is being seen on the election donations; the corporate world is spending money for the BJP with both hands, but is clenching its fists tight when it comes to the Congress. Kumarmangalam Birla has 35 per cent shares in a media company. Kumarmangalam’s son has come back from New York armed with a media management degree and his aim is to become a media baron. Keeping his son’s wishes in mind. Kumarmangalam was about to give him 51 per cent shares of this media company so that he could control the company. For a while now, this media group’s three channels and a multi-language news magazine has been taking an anti-government and anti-Congress stance. Once in a while, the news anchors would directly attack the Congress crown-prince Rahul Gandhi, too, and this was just not going down well with the Congress. Sources reveal that several warning were issued to Kumarmangalam from the Congress so that his channel mends its ways, but Kumarmangalam washed his hands off the affair saying he did not control the media group at present. Thus, the Congress and the UPA government started to feel that Kumar, too, has an anti-Congress and pro-Modi take and a political strategy was drawn to teach him a lesson. Setting Kumarmangalam as an example, the Congress wants to pass on the message to another top industrialist who has a big share in several media groups that he get over his Modi love while there’s still time, or he could face the same fate as Kumarmangalam”.-from GossipGuru
Politics:Interview with Amit Shah
Must watch for students of Indian politics.