The 1975 Buffett memo that saved WaPo's pension

[dcollon]

Forgive me if this was already posted. 

 

1975 memo from Mr. Buffett to Mrs. Graham

 

http://www.scribd.com/mobile/doc/160301289

[Green King]

Thank you for the 1 hr of fun.  ;D

It seems the fundamental forces doesn't change over time in this game.

Correct me if i am wrong but did Buffett make 100x on The Washington Post ?

[Liberty]

Thanks for posting. Nothing new, but always fun to read Buffett.  :)

[Green King]

Thanks for posting. Nothing new, but always fun to read Buffett.  :)

 

Watch out for confirmation bias

[Liberty]

Thanks for posting. Nothing new, but always fun to read Buffett.  :)

 

Watch out for confirmation bias

 

Care to elaborate on what you mean?

[Green King]

Thanks for posting. Nothing new, but always fun to read Buffett.  :)

 

Watch out for confirmation bias

 

Care to elaborate on what you mean?

 

I am not comfortable reaffirming things that are know to be true. Especially when it the teaching of Buffett and Munger.

i don't know if you have learn their full teachings. but i been having a hard time find a idea that can do 15% over time that passes the four fillers.

They are easy to read harder to understand fully and apply in reality.

Each time i read their stuff i have been getting new things. Which help me generate a new metal model of the world.

In fact some of the new ideas i have come across my self have been said in their past talks that i have looked at a few times before.

I have become diligent when reading or listening to their texts since things that seems oblivious and simple are not so. mostly in fear of missing great simple insight.

 

having confirmation bias on top of that is like having free handicaps.

 

 

[djcattlco]

Thanks Green King and Liberty.  Buffett/Munger's writings, re-read,

have always been instructive for me.  I forget that sometimes.

[Liberty]

Thanks for posting. Nothing new, but always fun to read Buffett.  :)

 

Watch out for confirmation bias

 

Care to elaborate on what you mean?

 

I am not comfortable reaffirming things that are know to be true. Especially when it the teaching of Buffett and Munger.

i don't know if you have learn their full teachings. but i been having a hard time find a idea that can do 15% over time that passes the four fillers.

They are easy to read harder to understand fully and apply in reality.

Each time i read their stuff i have been getting new things. Which help me generate a new metal model of the world.

In fact some of the new ideas i have come across my self have been said in their past talks that i have looked at a few times before.

I have become diligent when reading or listening to their texts since things that seems oblivious and simple are not so. mostly in fear of missing great simple insight.

 

having confirmation bias on top of that is like having free handicaps.

 

Sure, I just don't understand why you wrote that warning to me after I just thanked the poster for sharing.