Warren Buffett..Now no 3 on forbes list

Discussion in 'Wall St. News' started by lolo24ca, Apr 12, 2007.

  1. erikdean


    Gates and Mr. Buffet don't just go and give their money to " Joe Blow" on the streets. Do some reading.


    #11     Apr 13, 2007
  2. well obviously they aren't going to give money to mr. blow. But they can go and do something for a whole community and invest large amounts. But I agree with what the one guy said that they help out by creating jobs.
    #12     Apr 13, 2007
  3. Exactly, What's that old saying: Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime
    #13     Apr 13, 2007
  4. ElCubano


    what Helu is trying to say is that used non-efficeintly a donation can lead to it producing worse outcomes...

    like give a guy a $1.00 today and he will be back tomm give the guy a job and he wont need your $1.00....:D
    #14     Apr 13, 2007
  5. John Stossell talked about this in his book / show, "Give me a Break". He actually told Ted Turner that the $1 Billion he promised the UN would probably be better served if he had created companies and jobs in poor nations to help people than just give it away.

    Ted Turner got pissed, said a few things, up and then left.
    #15     Apr 13, 2007
  6. erikdean


    That was the point of my post. Gates and Buffet are doing things for the communities all across the United States and the world. They are not just handing out money. Again, do so some reading.


    #16     Apr 13, 2007
  7. i must be missing something here bitstream... :/
    #17     Apr 13, 2007

  8. look, there's a reason why those guys are referred to as the money masters. you wont ever see them on the forbes list, rockefeller even had wiki to take out a page dedicated to him. they are very secretive and if you need to have the press confirming the obvious to you, you are in a pretty bad shape.

    it takes a minimum amount of reflection to see the extrarodinary wealth they accumulated. they have been at it for 100s of years and made money off every recession and boom they created themelves, buying companies in the meanwhile and consolidating wealth at an astonishing rate..i'd bet they could write off both current trade and budget deficits and still have gazillions to spare. think about this: they dilute the reserves by 10:1 and lend the money they create outta thin air to every single government charging 5% interests rates...thats a whopping 50% yearly profits for them and they have been doing it for centuries. for how long has gates been in biz, 30 years? lol, there you have it.
    #18     Apr 13, 2007
  9. 11Blade


    Its really because straight up philanthropy today tends to be misguided and mis-used.

    Businessmen are in the business of making money not helping people in need. They are the supreme example of self-serving. Creating wealth rarely involves the betterment of fellow human beings. It just so happens the argument is that "businessmen" allocate capital with much better results than charitable organizations, the government or nonprofits. You don't see businessmen going into challenging businesses to make zero profit but create jobs? You may see a nonprofit do it.

    The true measure I think of philantrophy especially from those who have the wealth to make a difference is involved in the "heavy lifting" problems such as the cycle of poverty, paucity of capital, corruption and failing educational systems.
    #19     Apr 13, 2007
  10. danoXP



    which one of the Rockefeller s had their Wiki page removed? The senator from Virginia? John D the 5th?

    I don't see it?
    #20     Apr 13, 2007