A new Word of Wisdom

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  • PaloAltoCougar
    Semper infra dignitatem
    • Nov 2008
    • 16940

    #241
    The documentary Becoming Warren Buffett starts with him teaching a class in Omaha and his presentation begins like an excellent lesson on the Word of Wisdom. I intend to use his approach in a class someday.

    I'll only paraphrase it here:

    Imagine that at the end this of class I were to present you with the car of your choice. You can pick whatever you want, the make, model, color, options, etc.; it's all yours. But of course, there's a catch, it will be the only car you'll ever own for the rest of your life. What will you do with it? I imagine you'll take very, very good care of it. Not only do you want it to last a very long time, you want it to be a point of pride, something others will admire.

    It's the same way with your brain and your body. You only get one of them, and they will necessarily have to last your entire lifetime. Will you take care of them as you would your only car? Aren't they considerably more important than that car? etc.



    Funny thing, though, after that class presentation the film shows Buffett pulling up to a McDonald's for his usual breakfast. He gets one of three things (one's an Egg McMuffin, the others I don't recall), ranging in price from around $2.67 to around $3.15; he jokes that what he chooses is a function of how the market's doing, and he washes it down with a Coke. So much for taking care of his body; I'll leave that part out of the lesson.

    Comment

    • Omaha 680
      Senior Member
      • Jul 2011
      • 11185

      #242
      Originally posted by PaloAltoCougar View Post
      The documentary Becoming Warren Buffett starts with him teaching a class in Omaha and his presentation begins like an excellent lesson on the Word of Wisdom. I intend to use his approach in a class someday.

      I'll only paraphrase it here:

      Imagine that at the end this of class I were to present you with the car of your choice. You can pick whatever you want, the make, model, color, options, etc.; it's all yours. But of course, there's a catch, it will be the only car you'll ever own for the rest of your life. What will you do with it? I imagine you'll take very, very good care of it. Not only do you want it to last a very long time, you want it to be a point of pride, something others will admire.

      It's the same way with your brain and your body. You only get one of them, and they will necessarily have to last your entire lifetime. Will you take care of them as you would your only car? Aren't they considerably more important than that car? etc.



      Funny thing, though, after that class presentation the film shows Buffett pulling up to a McDonald's for his usual breakfast. He gets one of three things (one's an Egg McMuffin, the others I don't recall), ranging in price from around $2.67 to around $3.15; he jokes that what he chooses is a function of how the market's doing, and he washes it down with a Coke. So much for taking care of his body; I'll leave that part out of the lesson.
      An employee at the Waldorf in Manhattan (not a humblebrag; I used points!) told me Buffet used to be a frequent guest on his NYC trips. He is apparently a huge fan of Dairy Queen, but there was no DQ in Manhattan in those days. So the hotel staff would zip over to Jersey City and bring him back his Blizzards in a cooler. I have no idea if that is a true story, but I like to believe it.

      Comment

      • PaloAltoCougar
        Semper infra dignitatem
        • Nov 2008
        • 16940

        #243
        Originally posted by Omaha 680 View Post
        An employee at the Waldorf in Manhattan (not a humblebrag; I used points!) told me Buffet used to be a frequent guest on his NYC trips. He is apparently a huge fan of Dairy Queen, but there was no DQ in Manhattan in those days. So the hotel staff would zip over to Jersey City and bring him back his Blizzards in a cooler. I have no idea if that is a true story, but I like to believe it.
        It wouldn't surprise me at all, since Berkshire Hathaway owns or controls DQ and he's very supportive of his invested businesses.

        Comment

        • Omaha 680
          Senior Member
          • Jul 2011
          • 11185

          #244
          Originally posted by PaloAltoCougar View Post
          It wouldn't surprise me at all, since Berkshire Hathaway owns or controls DQ and he's very supportive of his invested businesses.
          I didn't know they owned DQ. Railroads and ice cream are the secret to success.

          Comment

          • PaloAltoCougar
            Semper infra dignitatem
            • Nov 2008
            • 16940

            #245
            Originally posted by Omaha 680 View Post
            I didn't know they owned DQ. Railroads and ice cream are the secret to success.
            Throw in their holdings in Coca-Cola and See's Candy (a chocolatier chain here in the west, not sure of its nationwide reach) and they're pretty much set.

            BTW, in the documentary Buffett makes a strong case for living the good life in Omaha. He could live anywhere, under the most lavish of circumstances, and he chooses Omaha.

            Comment

            • Pelado
              Bald not naked
              • Sep 2010
              • 21157

              #246
              Originally posted by PaloAltoCougar View Post
              Throw in their holdings in Coca-Cola and See's Candy (a chocolatier chain here in the west, not sure of its nationwide reach) and they're pretty much set.

              BTW, in the documentary Buffett makes a strong case for living the good life in Omaha. He could live anywhere, under the most lavish of circumstances, and he chooses Omaha.
              Not even a shout-out to RC Willey? Bad form.
              "I think it was King Benjamin who said 'you sorry ass shitbags who have no skills that the market values also have an obligation to have the attitude that if one day you do in fact win the PowerBall Lottery that you will then impart of your substance to those without.'"
              - Goatnapper'96

              Comment

              • PaloAltoCougar
                Semper infra dignitatem
                • Nov 2008
                • 16940

                #247
                Originally posted by Pelado View Post
                Not even a shout-out to RC Willey? Bad form.
                Since they sell Barcaloungers, which fit in with the theme here, you are correct that this was a lamentable oversight.

                Comment

                • chrisrenrut
                  Strikes and Gutters
                  • Jul 2009
                  • 2299

                  #248
                  Originally posted by PaloAltoCougar View Post
                  The documentary Becoming Warren Buffett starts with him teaching a class in Omaha and his presentation begins like an excellent lesson on the Word of Wisdom. I intend to use his approach in a class someday.

                  I'll only paraphrase it here:

                  Imagine that at the end this of class I were to present you with the car of your choice. You can pick whatever you want, the make, model, color, options, etc.; it's all yours. But of course, there's a catch, it will be the only car you'll ever own for the rest of your life. What will you do with it? I imagine you'll take very, very good care of it. Not only do you want it to last a very long time, you want it to be a point of pride, something others will admire.

                  It's the same way with your brain and your body. You only get one of them, and they will necessarily have to last your entire lifetime. Will you take care of them as you would your only car? Aren't they considerably more important than that car? etc.



                  Funny thing, though, after that class presentation the film shows Buffett pulling up to a McDonald's for his usual breakfast. He gets one of three things (one's an Egg McMuffin, the others I don't recall), ranging in price from around $2.67 to around $3.15; he jokes that what he chooses is a function of how the market's doing, and he washes it down with a Coke. So much for taking care of his body; I'll leave that part out of the lesson.
                  I'm thinking of using showing this as part of my teachers quorum lesson tomorrow. I hope the church wifi supports streaming from HBO GO.

                  Comment

                  • CJF
                    Senior Member
                    • Nov 2008
                    • 8497

                    #249
                    Originally posted by chrisrenrut View Post
                    I'm thinking of using showing this as part of my teachers quorum lesson tomorrow. I hope the church wifi supports streaming from HBO GO.
                    It does. At least it worked in our building.
                    A man who views the world the same at fifty as he did at twenty has wasted thirty years of his life. - Mohammad Ali

                    Comment

                    • Paperback Writer
                      Signature won a Pulitzer
                      • Nov 2010
                      • 5211

                      #250
                      Originally posted by PaloAltoCougar View Post
                      Throw in their holdings in Coca-Cola and See's Candy (a chocolatier chain here in the west, not sure of its nationwide reach) and they're pretty much set.

                      BTW, in the documentary Buffett makes a strong case for living the good life in Omaha. He could live anywhere, under the most lavish of circumstances, and he chooses Omaha.
                      And his first wife chose San Francisco...

                      I once had a recruiter try to sell me on a position in Omaha. I had already done work for his client from my Dallas location so was very familiar with the company and my prospective job duties. He rightly sensed that I was apprehensive about relocating to Omaha and started singing the praises of Omaha until my conscience made me stop him. I grew up in Lincoln and am all too familiar with the virtues of Omaha and "the good life".

                      Note to Omaha 680: I'm not making any claims that Lincoln is any better or worse than Omaha.
                      “Not the victory but the action. Not the goal but the game. In the deed the glory.”
                      "All things are measured against Nebraska." falafel

                      Comment

                      • bluegoose
                        7th round draft pick
                        • Nov 2008
                        • 4121

                        #251
                        Originally posted by PaloAltoCougar View Post
                        Throw in their holdings in Coca-Cola and See's Candy (a chocolatier chain here in the west, not sure of its nationwide reach) and they're pretty much set.

                        BTW, in the documentary Buffett makes a strong case for living the good life in Omaha. He could live anywhere, under the most lavish of circumstances, and he chooses Omaha.
                        When we lived there he was still really involved in the community, frequently taking parts in local theater. I believe he played Daddy Warbucks in the Annie production one year.

                        Comment

                        • byu71
                          Senior Member
                          • Nov 2008
                          • 22070

                          #252
                          I have always liked Buffet and his long term approach to investing. Very smart when it comes to investing.

                          My hero status for him though was busted with he misled everyone with his famous my Secretary pays more in taxes than I do statement. I looked to make sure he didn't give the full story and he hadn't. I only pay attention to him now when he is talking about investing.

                          Comment

                          • Applejack
                            Senior Member
                            • Aug 2012
                            • 3813

                            #253
                            Originally posted by Paperback Writer View Post
                            And his first wife chose San Francisco...

                            I once had a recruiter try to sell me on a position in Omaha. I had already done work for his client from my Dallas location so was very familiar with the company and my prospective job duties. He rightly sensed that I was apprehensive about relocating to Omaha and started singing the praises of Omaha until my conscience made me stop him. I grew up in Lincoln and am all too familiar with the virtues of Omaha and "the good life".

                            Note to Omaha 680: I'm not making any claims that Lincoln is any better or worse than Omaha.
                            OHHH. Nebraska on Nebraska fight!!!

                            Comment

                            • Jeff Lebowski
                              Corporate lackey for Jesus
                              • Nov 2008
                              • 69752

                              #254
                              Originally posted by byu71 View Post
                              I have always liked Buffet and his long term approach to investing. Very smart when it comes to investing.

                              My hero status for him though was busted with he misled everyone with his famous my Secretary pays more in taxes than I do statement. I looked to make sure he didn't give the full story and he hadn't. I only pay attention to him now when he is talking about investing.
                              I like his song about margaritas.
                              "There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
                              "It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
                              "Juilliardk N I ibuprofen Hyu I U unhurt u" - creekster

                              Comment

                              • byu71
                                Senior Member
                                • Nov 2008
                                • 22070

                                #255
                                Originally posted by Jeff Lebowski View Post
                                I like his song about margaritas.
                                Yea, he has a subtle humor about him. I think he really enjoys his interviews and sit downs with Becky Quick.

                                Comment

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