Winning Words 8/26/11
“Be fearful when others are greedy, and be greedy when others are fearful.” (Warren Buffett) Warren had an interest in money, even as a child, going door to door selling chewing gum. He bought his first stock at age 11. His high school yearbook predicted that he’d be a stock broker. He bought a house in Omaha in 1957 for $31,500 and still lives there. Try to see “greed and fear” in their context. ;-) Jack
FROM SH IN MICHIGAN: Trying to see "greed and fear" in their context but still believe that, when others are greedy, that's the time to practice trust of God and be generous, and, when others are fearful, that's also the time to practice trust of God and be generous. Maybe the reason the quote is WW is because Buffett advises to not be part "of the pack" and he, himself, lives life outside "of the pack." Maybe living a strong life is not being so influenced by other's greed and fear that you adopt those qualities too. Just because you want to see something worthwhile in Buffett's quote, I've been trying to too. Thanks for thought-provoking us out here in e-mail land.////FROM JACK: I sense a lot of fear among people today in many areas of life. I chose the quote, because (as you commented) times like these need us to live "outside of the pack." The word, greed, generally has negative connotations, but it fits in the context used.
FROM PL IN MICHIGAN: When stocks were falling due to S&P downgrade and so many people were panicking, Buffett said ,"I'm buying," He also said that this country should be rated AAAA, let alone triple A. I'm not only impressed with his patriotism, but I'm impressed with how he does what he thinks is right regardless of trends.////FROM JACK: That's why I think that it's a good quote. We can learn "generally" from watching people who do their "particular" job well. That's why I appreciate meeting and talking with people in different situations than my own.
FROM JS IN MICHIGAN: Buy low and sell high....How opposite is Christianity....You can't buy a thing and you should always share the gifts....My grandson said that "Santa should share"...So should we....////FROM JACK: In my opinion, Christianity says that when people are fearful they need to hear a message of how to react to that feeling. "Do not be overcome by evil." Figure out how to overcome that evil. Perhaps being "Santa" to some of the poor is such a way. I commend Buffett for encouraging the wealthy to give a large portion of their wealth to charitable causes. I should be doing more than I am to help people in need.
FROM PLAIN FOLKS CHESTER: Warren was on a talk show recently and was asked why he bought a railroad. "Because my dad wouldn't buy me a train set." Now he has lots of little engines that "can."////FROM JACK: Now, he's bought Bank of America, because his dad wouldn't get him a piggy bank.
FROM TAMPA SHIRL: I don't really relate to the greed and fear part, but I do understand his philosophy about his money and his children being responsible for themselves and not depending upon him for handouts. By the way, the Tigers have a very good and deep team. The Rays loaded the bases again in the ninth yesterday but couldn't deliver their usual bats. Congratulations.////FROM JACK: The blog has some interesting comments. I knew that the word, "greed," has negative connotations, but I purposely chose the quote, because of the time s in which we live. When people are living in fear, another way has to be shown. "Greed" happens to be the word that stands for another way. There's a way out of fear.
FROM BS NEAR ORLANDO: this is very interesting Jack. I often wondered where I would be today if my mother hadn't interfered with my shoe shine enterprise. I was earning in 4 nites more money than my father earned working about a 60 hr week. Or if the county had a fair during the gas rationing days of the WAR, I could have shown my skills raising premium pigs. Or if I had a mentor to push me, could I have become eventually a supervisor at Nash Motors. Or if I would have gone to Officer's Candidate school would I saved enough money to start a civilian adventure? I don't think it was greed, I think it was ambition, but unfortunately, without the education needed to start the building blocks. A life during the depression was a real challenge, actually an education or sorts. One item to remember when aboard he George Gershwin, in a hurricain, I was too young to be fearful. I didn't have enough experience in life to know when to be afraid..Mr Buffett had the skills, the ambition, and parents to give advice, apparently good advice. I wonder why my Grandchild doesn't listen? Is it because they had a silver spoon in their mouth during their precious sponge years? Hey Jack, I am not going to give up, it's fun succeeding in enterprises here to fore had not been grababill ( wow what a word ).////FROM JACK: Woulda...Coulda...Shoulda. I guess we just have to play the cards we have been dealt. You've accomplished some good things during your lifetime.
FROM THE MEDDIA IN IOWA: Warren Buffett,as you probably know is a major stockholder in Dairy Queen but since he bought the stock after the business was developed I give him credit for recognizing that accomplishment but I don't give him any credit for building a business. I recognize a doctor that has a successful operation, but I have no idea how he does one. Warren should do what he does in investing in those that are successful and realize that he is not an expert in running the operation.////FROM JACK: Warren seems to be good at what he does At least, people are anxious to follow his lead. His advice is the one typically given to those who are the stock market...Buy low. Sell high. I wish I'd had some money to invest in DQ in the early days and had been smart enough to do it.
FROM BLAZING OAKS: Whatever Warren Buffet says holds sway, because he's made it work, but I also heard a news commentator say the other day, that he keeps encouraging taxing the rich, but he makes billions, and knows how to manage it without paying much in taxes....I wish I had his smarts! But remember dear ol' Paul: "I have learned in whatever state I am to be content." We Christians put our minds and energy in a different place. We DO walk to a different drummer. Though I can relate to the person who said, "Money can't buy happiness, but it can make misery much more comfortable..." So be it!////FROM JACK: I am not ready to put Warren Buffett outside of the Christian group. We each do what we can with the blessings that we have. Warren does his thing. I do mine. You do yours. I think that we each do what we do, as the Spirit leads us.