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Title : Lunch Amongst Warren Buffett Goes For $2.7 1 One M Thousand (The Anonymous Bidder Wasn't David Stockman)
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Lunch Amongst Warren Buffett Goes For $2.7 1 One M Thousand (The Anonymous Bidder Wasn't David Stockman)

The Glide Foundation charity volition have proceeds of  $2,679,001 from this year's high bidder inwards the auction to accept luncheon amongst billionaire investor Warren Buffett.

The bidder remains anonymous at this time. However, I believe it is prophylactic to conclude it wasn't quondam Office of Management together with Budget manager nether Ronald Reagan, David Stockman.

In his recent book, Trumped! Influenza A virus subtype H5N1 Nation on the Brink of Ruin... And How to Bring It Back, Stockman writes:

The Oracle of Omaha is no genius together with he did non invent anything, fifty-fifty a novel unique method of investing inwards allocating capital. He may accept read Graham together with Dodd equally a youthful punter, but his nominal cyberspace worth did non grow from $2.1 billion inwards 1987 to $73 billion at acquaint past times next the old fashioned precepts of value investing.

Instead, he bought the obvious consumer names of the Baby-Boom demographic moving ridge similar Coke together with Gillette; had a swell facility for grabbing what he believed slower footed investors would also endure buying later; appreciated the value of banks together with other fiscal companies (like Goldman Sachs) that suckled on earth teat; together with mainly rode the 29- twelvemonth moving ridge that caused finance to soar from$12 trillion to $93 trillion after Greenspan took the helm at the Fed.

Stated differently nether government of honest coin inwards costless marketplace finance no mere insurance society portfolio manager could brand 19x inwards existent damage inwards  29-years. It can't endure done purely through the coin game

The truth of the affair is that the amend role of St. Warren's fortune was manufactured inwards the Eccles Building.

BTW, The Federal Reserve had a lot to produce amongst the climb inwards the wealth of the Koch Brothers equally I pointed out inwards 2012: How the Koch Brothers Became Billionaires

  -RW

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