Warren Buffett’s Annual Letters – 2015

Buffett's Annual Letters

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2 Responses

  1. Thanks for the review Mike.

    Slight rant coming up:

    On the climate change issue asking about insurance companies is far too narrow, and it depends what they mean by climate change. 1% and it’s no bid deal, 2% it could be a major problem given that we’d probably have to move London and New York and many other major cities, and 4% is probably game over for anything that could reasonably be called a civilisation. So it would be more useful if he framed the reply in terms of degree rather than “it’s not a problem”, because it very obviously is a massive problem.

    He also refers to the Y2K as being another dire problem where the experts were wrong. But Y2K really was also a massive problem and potential “game over” for civilisation. But we fixed it (me personally, in a very minor way). It wasn’t like Y2K wasn’t a problem. There was a problem, we spotted it in time and fixed 99.999999% of the issues by spending probably millions of man-years on it in the 1990s. Climate change is the same sort of thing, but fixing the problem is probably going to be many orders of magnitude more difficult.

  2. Mike Rawson Mike Rawson says:

    I think if I were 85 years old I would struggle to worry about climate change!

    Seriously, though, I think he’s decided to interpret the proxy vote in the most narrow financial sense to avoid the annual meeting being hijacked.

    I worked on Y2K as well, and there was a lot of bullshit involved. It was the Boy Crying Wolf moment for IT.

    I believe in climate change, but sadly I see no evidence the world will do what it takes to avoid its effects.

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Warren Buffett’s Annual Letters – 2015

by Mike Rawson time to read: 6 min
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