The Paradox of Trust

“We have listened to the wisdom of an old Russian maxim, doveryai, no proveryai – trust, but verify.”   — Ronald Reagan Trust is the foundation of society. Without a basic level of trust regarding the intentions and expected behavior of other human beings, our modern civilization would very quickly disintegrate into total chaos. If you

Avoiding 21st Century Twaddle

“Man, as a social animal who has the gift of language, is born to prattle and to pour out twaddle that does much damage when serious work is being attempted. Some people produce copious amounts of twaddle and others very

Availability-Misweighing Tendency

This mental tendency echoes the words of the song: “When I’m not near the girl I love, I love the girl I’m near.” Man’s imperfect, limited-capacity brain easily drifts into working with what’s easily available to it. — Charlie Munger,

Berkshire’s Repurchase Policy: Too Little, Too Late?

Berkshire Hathaway acquired $928 million of its own stock during the third quarter of 2018 through a series of purchases of Class A and Class B shares from August 7 to 24.  A repurchase of this size, relative to the

Book Review: University of Berkshire Hathaway

“It can’t possibly be this easy!” A first time attendee of a Berkshire Hathaway annual meeting might find it hard to believe that there could be any skeptics in the crowd.  In contrast to the boring, useless, and perfunctory meetings

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