For example...I hear some people say "I bought $10,000 worth of stock, and it went down in value, and I sold it for $9,000. I lost $1000!!! Where did that $1000 go? Who got it?!?"
The answer is: No one got it. It didn't "go" anywhere. It just disappeared.
That is one example of how and why the values of economies change. Someone getting richer through stock values does not itself take money away from others. (Fraud/manipulation/etc. could, but that is entirely different.)
You comment about him being a black hole that sucks money into itself could only be true and relevant if the amount of wealth in the economy was fixed. Meaning, if Buffett acquires $1billion, then that is $1billion that is not available for others. And that is not how the economy works. I can substantiate that by just pointing out the changing value of the GDP, of the markets, of individual company's stock values, etc.
@patfarlow even then he distributed paper and sold coke bottles as a teenager...........
wreslinga2 2 months ago
If I had a lot more money I'll probably eat more fast food, get more books and see the world a lot more than I could now.
wetyewruyrtsutrdhjfg 4 months ago in playlist Warren Buffett and Bill Gates
Slot machines TELL you how to win: "Play 20 credits", "Max Bet", etc. Just follow instructions. ;])
buzzclick500 6 months ago
his voice reminds me of heath as the joker.
jerseysapphire 7 months ago
lol, 09:52! Very true. :)
singworshiplove 7 months ago
@bldjr7 Actually his father, Howard Buffet was a wealthy Republican Congressman. So he literally came from privilege.
patfarlow 7 months ago
why smart people do stupid things :D
ghj6363 7 months ago
why smart people do stupid things
ghj6363 7 months ago
@mattinuk
For example...I hear some people say "I bought $10,000 worth of stock, and it went down in value, and I sold it for $9,000. I lost $1000!!! Where did that $1000 go? Who got it?!?"
The answer is: No one got it. It didn't "go" anywhere. It just disappeared.
That is one example of how and why the values of economies change. Someone getting richer through stock values does not itself take money away from others. (Fraud/manipulation/etc. could, but that is entirely different.)
digitalcrypt 7 months ago
@mattinuk
You comment about him being a black hole that sucks money into itself could only be true and relevant if the amount of wealth in the economy was fixed. Meaning, if Buffett acquires $1billion, then that is $1billion that is not available for others. And that is not how the economy works. I can substantiate that by just pointing out the changing value of the GDP, of the markets, of individual company's stock values, etc.
digitalcrypt 7 months ago