A Quote by Warren Buffett
I certainly do believe anyone engaged in the management of money should have a standard of measurement, and that both he and the party whose money is managed should have a clear understanding why it is the appropriate standard, what time period should be utilized, etc.
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Conversations about money certainly are not sexy, but they should give each of you some clarity and enable you to enter into your marriage with a better understanding of each other and what is important. Work and home responsibilities, joint or separate accounts, budgets, etc. are all subjects which should be discussed.
If there is a well thought-out design standard, it should be followed. In practice, great design comes from great designers. That is empirically the case. If a great designer did a first-rate standard, that model should be followed. Great design is not democratic; it comes from great designers. If the standard is lousy, then develop another standard.
Over two thousand years ago, Aristotle taught us that money should be durable, divisible, consistent, convenient, and value in itself. It should be durable, which is why wheat isn't money; divisible which is why works of art are not money; consistent which is why real estate isn't money; convenient, which is why lead isn't money; value in itself, which is why paper shouldn't be money. Gold answers to all these criteria.
The particular, eternally persisting, elementary physical stuff of the world, according to the standard presentations of relativistic quantum field theories, consists (unsurprisingly) of relativistic quantum fields... They have nothing whatsoever to say on the subject of where those fields came from, or of why the world should have consisted of the particular kinds of fields it does, or of why it should have consisted of fields at all, or of why there should have been a world in the first place. Period. Case closed. End of story.
In my opinion, you keep the standards very high and you maintain one standard. There shouldn't be two standards for women and men, there should be a standard for this job: To do this job, you should have to do these things.
For good days one should save money, women should be protected even if it takes the money saved. But for self preservation the money and the women should be sacrificed!!
Though I don't personally believe that Bitcoin is true money, it should be perfectly legal, and there should be no restrictions on it; there should be no taxes on it.
If we face recession, we should not lay off employees; the company should sacrifice a profit. It's management's risk and management's responsibility. Employees are not guilty; why should they suffer?
When things go wrong, the standard management strategy is to decide who takes the blame. This should be an underling, as far down the chain as possible, but preferably with some visibility so people know management means business.
I think that intelligent forecasting (company revenues, earnings, etc.) should not seek to predict what will in fact happen in the future. Its purpose ought to be to illuminate the road, to point out obstacles and potential pitfalls and so assist management to tailor events and to bend them in a desired direction. Forecasting should be used as a device to put both problems and opportunities into perspective. It is a management tool, but it can never be a substitute for strategy, nor should it ever be used as the primary basis for portfolio investment decisions.
The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.
The standard is not writ on the stone. The definition of the standard is that it is the best way to do the job for now. It should be regarded as a next step to make further improvement.
I believe Washington should be a more active participant focusing on the issue of why corporate shareholders and mutual fund shareholders are not given fair treatment by corporate management and mutual fund management. We need to develop a national standard of fiduciary duty to ensure that these agents, if you will, are adequately representing the principles - pension beneficiaries and mutual fund shareholders - whom they are duty bound to serve.
Politicians should not get involved in the detail of clinical criteria and shouldn't be arguing with professors and consultants over whether there is one standard deviation or two standard deviations.
We should know why paternalism, collectivism, or unnecessary federal supervision will hold our standard of living down and reduce productivity just as it has in every country where it has been tried. We should also know why the communist leaders consider socialism the highroad to communism.
You know, money will never save anyone. Compassion can save someone, love can save someone, money will never save anyone. And as long as the entire society will put money first... Money should be like third or fourth or fifth, I'm not saying lets get rid of money, but how can we put money as number one? As the only value, like if you are rich, you're famous you go VIP, why? It's just insane, the way we've transformed the society.
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