Yes, and it is very easy. https://news.ycombinator.com/item?id=46223051 "Flash a driver's license at a liquor store to buy a single-use token" And to save a debate, you can swap the phrase "liquor store" for "store" aka supermarket/grocery store.
I'll play along, so here is the counterpoint.
The article remarks on end of an era during which he transformed a failing textile mill into a global conglomerate valued at over $1 trillion.
So he never made anything? Wrong, textile mills make things.
Elsewhere in the comments someone links BuffettsAlpha.pdf
This explains that they used a 1.6-to-1 leverage refers to the estimate of the average amount of borrowed capital Warren Buffett uses to magnify the returns.
This level of leverage means that for every $1.00 of equity, Buffett manages approximately $1.60 in total assets.
It explains why Berkshire experiences high volatility (roughly 25%) despite investing in relatively stable, low-risk businesses.
A significant portion of this leverage—estimated at 36% of liabilities—comes from insurance float. This is essentially a "loan" that costs Berkshire an average of only 2.2% annually, which is more than 3 percentage points below the average T-bill rate.
So why does this matter? Unlike many investors who might face forced liquidations during market downturns, Buffett's unique access to stable, low-cost financing allows him to maintain this leverage even during significant drawdowns.
So yes, he chose the right "cronies" because during inevitable downturn the money was still there to be used to run these low risk stable business.
Do people idolise him? No need to debate that but power corrupts and absolute power corrupts absolutely.
Why did he continue to live a simple life while he has pledged that 99.5% of his wealth will go to philanthropic causes either during his lifetime or at the time of his death.
So I do think you "got that right", however you may have missed that he started with a factory that makes things, invested in a way that survived adversity, and then plans to deliver on the principle that his wealth belongs to society rather than to a "family empire."
I do wonder how you or I would handle running a business. To me that work does not sound easy.
> I do wonder how you or I would handle running a business. To me that work does not sound easy.
I think all of the hardest times in my management career have been dealing with investors/owners etc. 'Professional Investors' and PE have been some of the worst, because they tend to be extremely opinionated, whilst simultaneously demonstrating their contempt for the people doing the actual job, and their naivety in how things are actually done. Perhaps that has made me jaded. I never had the same problems with staff, customers and suppliers.
Not OP but I also use ControlD. I admittedly like NextDNS interface better, but honestly, I rarely need to login anyways.
So why ControlD? Because I don't want to run my own piHole, basically. They maintain ad block lists that you can edit as you see fit to add things or relax things that may cause issues(which you can't do easily with public ad blocking dns servers).
Why ControlD then and not NextDNS? First, because their support was awesome when I had an issue. AFAICT it was the founder actually emailing me back and forth, and it ended up being my ISP's fault, but I only knew that based on research provided to me by support. Secondly, I got a good deal on a 5-year subscription at one point.
Happy to answer any questions, not affiliated but a fan of the service.
Not GP, but I just run my own dns inside the network (unbound on a little openbsd sbc) with a cronjob that pipes oisd.nl into it every night, works great..
..."Indyke, an attorney who represented Epstein for decades, has not been criminally indicted by federal authorities. He was hired by the Parlatore Law Group in 2022, before the justice department settled the Epstein case. That firm represents the defense secretary, Pete Hegseth, and previously represented Donald Trump in his defense against charges stemming from the discovery of classified government documents stored at Trump’s Florida estate."...
Projectivy Launcher, for Nvidia Shield Home Screen.
Before that I was building a rooted firmware and downgrading from that awful advert ridden update. I also tried Dispatch as a home screen replacement, but Projectivy wins.
Christian (includes Anglican, Roman Catholic, Presbyterian, Methodist) 59.5%, Muslim 4.4%, Hindu 1.3%, other 2%, unspecified 7.2%, none 25.7% (2011 est.)
I bought a second hand Pixel 7 to test this and an exFat SanDisk Extreme Portable 2TB works with reads/writes perfectly.
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