Get Used To Making Less
Guest Post by Dennis Miller at Miller On The Money
Each new year brings a myriad of projections about politics, investing, life, global warming and all things in between. I view most as “for entertainment purposes only,” trying not to take them too seriously.
I pay attention to investment pundits who have walked the walk, coupled with a solid, proven track record over a long period of time.
Last spring Motley Fool reported about remarks from legendary investors Warren Buffett and Charley Munger:
“During Berkshire Hathaway’s annual shareholders meeting…Buffett’s right-hand man, Charlie Munger, had a warning to investors. ‘I think value investors are going to have a harder time now that there’s so many of them competing for a diminished bunch of opportunities.
So my advice to value investors is to get used to making less.’
…. Consider this piece of good news: Buffett believes that short-term thinking and dumb ideas are running more rampant than ever. Investors who combat these impulses with patience can gain an edge over Wall Street.
…. Opportunities occur when people do dumb things
Because Berkshire is so big now, Buffett and Munger can’t benefit much from investing in traditional hidden gems. Instead, they have to focus more on finding high-quality companies and letting those investments compound over time.
Yet value investors around the world still look up to them for their ability to identify what Buffett would call ‘a wonderful business at a fair price.’
Today’s media landscape has more voices preaching fast and easy money.
…. This presents a challenge for investors that have to filter out the noise and determine if a prospective growth stock can bridge the gap between expectations and reality.
…. Buffett said:
‘New things coming along don’t take away the opportunities. …. I would say there’s been a great increase in the number of people doing dumb things, and they do big dumb things. And the reason they do it to some extent is because they can get money from other people so much easier than when we started.
WINTER SALE
…. The world is overwhelmingly short-term focused. And if you go to an investor relations call…the management is interested in feeding them expectations that will slightly be beaten. That is a world that is made to order for anybody that’s trying to think about what to do that should work over five, or ten, or twenty years.’
When Buffett was first starting out, the greatest advantage a value investor could have was access to information. Today, with information beyond the young Buffett’s dreams available without much effort, the greatest advantage is the ability to ignore distractions and the discipline to maintain a long-term time horizon.”
Says the guy who benefits by the oil pipeline project closure thus ensuring oil is shipped on railroads he owns. Its good to be king.
He’s a shark alright. Talking oil pipeline, how does this work in lieu of one certain oil pipeline plan stalled. Not all of it of course. But, how does this work?
Record U.S. oil production sparks battle for market share with Saudi Arabia and OPEC+
^ Couple days ago. Today? WTF knows.
Clown World
Fuck over the government. Fuck over the fed.
Do not buy a new house. Do not buy a new car. Do not go on vacation. Do not go out to eat.
Pay off all your debts ASAP.
You will thank me later.
Every now and then I like to go Tex-Mex and eat some Mexican food served by who else but Mexicans. Not giving that up. Also, every now and then some Italian at a not so fancy pricey place. Not giving that up either. The rest , check. Sitting in tall cotton on measly “income” because I planed it that way. I.E. , pulled the boot straps up. Woke up one morning and thought to myself, I’m going to build a damn house and did.
Yeah, I’m not giving up Tex-Mex. Ever. It’s the one type of food I miss the most when I’ve lived in other states (California has some good Mexican, but with seafood, of course; not the same).
I hope you wake up one morning and think, “I’m going to build a damn border wall,” since you’re a see-it-through kinda guy. Or we could pool our resources and hire some Mexicans to do it. They do great work.
It’s “Get Use To Making Less.”
No. It isn’t. In this usage the word ‘use’ is interchangeable with the word ‘accustom’.
So “Get accustomed to”, NOT “get accustom to”. The latter is incorrect.
The degradation of the English language proceeds apace with grown adults who would fail 6th grade English class attempting to “correct” others’ grammar online.