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I have to disagree with him here. I don't believe saving your money long-term is anything like saving sex for old age. One could argue that you need some form
by norova 17y ago
I have to disagree with him here. I don't believe saving your money long-term is anything like saving sex for old age. One could argue that you need some form of monetary support for the rest of your life, securing your money is smart, however, sex is not an essential part of old age. The two ideas are quite different.
- ghshephard 17y agoWarren Buffet is not talking about "Personal Financial Management" - He's talking about making use of the utility of money when it has value - and not holding onto it for the sake of holding onto it - until you have it a time when it might not be useful anymore. The money you are talking about is consumption spending, not investment spending. (And I suspect, even in your case, you wouldn't just "hold onto/save the money" - you'd probably invest/"Buy" something instead - T-Bills, Equities, etc...) In general - disagreeing with Warren Buffet with regards to Investment Advice is like disagreeing with Plato with regards to Philosophy - You may _feel_ like you know more than them, but you don't. You really don't.
- eru 17y agoI feel you can disagree with Plato on philosophy. We know much more than the poor chap. E.g. I think that seeing numbers and math as a inter-mental construct (with remarkable applications) is a more adequate point of view than claiming they are in any sense `out-there'. (Of course it's hard to prove either way.) You can also disagree with Warren Buffet, though his case is stronger than Plato's: There's evidence in Warren Buffet's favor. E.g. George Soros made a lot of money with speculation.