I checked this book out of the library recently, and most of the information in it pretty much fits into my models even if the specifics are news to me. I was quite surprised though, to find that Warren Buffett in particular directs his holdings to a lot of deliberate competition stifling and price gouging on captive customers. I had gotten used to thinking of him as the Big Good of the investment world, and I was surprised to realize that even if he puts his own personal fortune to benevolent uses, he doesn’t have any particular qualms about deliberately concentrating wealth rather than producing it, in order to maximize profits. That didn’t reflect the traditional capitalist values I imagined him to hold.
I checked this book out of the library recently, and most of the information in it pretty much fits into my models even if the specifics are news to me. I was quite surprised though, to find that Warren Buffett in particular directs his holdings to a lot of deliberate competition stifling and price gouging on captive customers. I had gotten used to thinking of him as the Big Good of the investment world, and I was surprised to realize that even if he puts his own personal fortune to benevolent uses, he doesn’t have any particular qualms about deliberately concentrating wealth rather than producing it, in order to maximize profits. That didn’t reflect the traditional capitalist values I imagined him to hold.