{"id":368271,"date":"2010-02-27T00:13:21","date_gmt":"2010-02-27T05:13:21","guid":{"rendered":"http:\/\/kempton.wordpress.com\/?p=10193"},"modified":"2010-02-27T00:13:21","modified_gmt":"2010-02-27T05:13:21","slug":"what-peter-learned-from-his-dad-warren-buffett","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/368271","title":{"rendered":"What Peter learned from his dad Warren Buffett"},"content":{"rendered":"

Great BusinessWeek article “What I Learned from My Dad – When his youngest son decided to become a musician, Buffett offered moral but not financial support<\/a><\/em><\/strong>“. Here is an excerpt (emphasis added),<\/p>\n

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One of my father’s often-quoted tenets is that a parent, if he has the means to do so, should give his children “enough to do anything, but not enough to do nothing<\/em><\/strong>.” A head start is fine; a free pass is often a crippling disservice.<\/em><\/strong> When I turned 19, I received my inheritance\u2014proceeds from the sale of a farm, which my father converted into Berkshire Hathaway (BRK.A) stock. At the time I received them, the shares were worth roughly $90,000. It was understood that I should expect nothing more.<\/em><\/strong><\/p>\n

So\u2014what to do with the money? I was a student at Stanford University; there were no strings attached. Fortunately, I’d had the advantage of seeing my older siblings burn through most of their cash; I didn’t want to follow down that path. At the other extreme, I might have done absolutely nothing with that stock\u2014just left it in an account and forgotten about it. If I’d picked that option, my shares would now be worth around $72 million.<\/em><\/strong> But I didn’t make that choice, and I don’t regret it for a second. People think I’m either lying or crazy when I say this, but it happens to be true, because I used my nest egg to buy something more valuable than money: I used it to buy time.<\/em><\/strong> [Kempton: Time is the greatest equalizer in life. No one, absolutely no one can buy time lost or buy more time.]<\/p>\n<\/blockquote>\n

It has not lost on me how Mr. Li Ka-Shing<\/a>, the richest man in HK,\u00a0had decided to bring up his two sons (see this biography<\/a>).<\/p>\n

Filed under: investment<\/a>, Love<\/a>, people<\/a>, united states<\/a>, Warren Buffett<\/a>, World<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/a> \"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Great BusinessWeek article “What I Learned from My Dad – When his youngest son decided to become a musician, Buffett offered moral but not financial support“. Here is an excerpt (emphasis added), One of my father’s often-quoted tenets is that a parent, if he has the means to do so, should give his children “enough […]<\/p>\n","protected":false},"author":841,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-368271","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/368271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/841"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=368271"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/368271\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=368271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=368271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=368271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}