3 ms·

It's funny how 'cyber' is listed up there with nuclear, biological and chemical attacks, while I understand that Buffet might not be well versed in technology,

It's funny how 'cyber' is listed up there with nuclear, biological and chemical attacks, while I understand that Buffet might not be well versed in technology, I think it's vital that the people running the government be educated on the real cyber threat and what it entails.

deleted 7y ago
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germinalphrase 7y ago
Are you suggesting that its inclusion is hyperbolic?
felixarba 7y ago
You don't have to be well versed in nuclear physics to understand the dangers of nuclear weapons.
- hanniabu 7y ago
  You need to be well versed in order to make regulation on it
- Aperocky 7y ago
  Yes, and putting cyber along with nuclear demonstrate an extensive ignorance on the threat that we face.
H8crilA 7y ago
That's not exactly what Buffett means when he says "invest in things you understand". What he means is: what will the market in which this company is selling look like in 10-20 years? Can you be very specific about that? Can you give me an invariant that will very likely stay true for that period? If you can't then you don't understand the future of this company. And this does not mean that the future of the company will be bad, it may be excellent. Just that you specifically don't really know that. This plays well with his love for almost trivially easy businesses, like Coca Cola. The simpler it is the easier it is to predict. "You want a business than can be run by an idiot, because one eventually will". Buffett has a good understanding of trade relationships between the countries, he wrote a good piece on the US trade imbalance many years ago. He probably has an excellent understanding of the bond market. But he can't predict where will this go, so he doesn't use it as a basis for his investment decisions.
- csomar 7y ago
  > he wrote a good piece on the US trade imbalance many years ago. Any links for that? Would like to read it.
  - H8crilA 7y ago
    https://money.cnn.com/magazines/fortune/fortune_archive/2003/11/10/352872/ https://money.cnn.com/magazines/fortune/fortune_archive/2003... Note that this was before the 2008 crisis which did affect the picture. Although it seems US is in a comparable or even worse state, yet again.
faissaloo 7y ago
Computers control the nukes and chemicals, so yes it definitely deserves to be up there. We forget that you can do alot more damage than a mere cryptolocker if your motivations aren't purely financial.

deleted 7y ago

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germinalphrase 7y ago

Are you suggesting that its inclusion is hyperbolic?

felixarba 7y ago

You don't have to be well versed in nuclear physics to understand the dangers of nuclear weapons.

hanniabu 7y ago
You need to be well versed in order to make regulation on it
Aperocky 7y ago
Yes, and putting cyber along with nuclear demonstrate an extensive ignorance on the threat that we face.

H8crilA 7y ago

That's not exactly what Buffett means when he says "invest in things you understand". What he means is: what will the market in which this company is selling look like in 10-20 years? Can you be very specific about that? Can you give me an invariant that will very likely stay true for that period? If you can't then you don't understand the future of this company. And this does not mean that the future of the company will be bad, it may be excellent. Just that you specifically don't really know that. This plays well with his love for almost trivially easy businesses, like Coca Cola. The simpler it is the easier it is to predict. "You want a business than can be run by an idiot, because one eventually will". Buffett has a good understanding of trade relationships between the countries, he wrote a good piece on the US trade imbalance many years ago. He probably has an excellent understanding of the bond market. But he can't predict where will this go, so he doesn't use it as a basis for his investment decisions.

csomar 7y ago
> he wrote a good piece on the US trade imbalance many years ago. Any links for that? Would like to read it.
- H8crilA 7y ago
  https://money.cnn.com/magazines/fortune/fortune_archive/2003/11/10/352872/ https://money.cnn.com/magazines/fortune/fortune_archive/2003... Note that this was before the 2008 crisis which did affect the picture. Although it seems US is in a comparable or even worse state, yet again.

faissaloo 7y ago

Computers control the nukes and chemicals, so yes it definitely deserves to be up there. We forget that you can do alot more damage than a mere cryptolocker if your motivations aren't purely financial.