I just finished reading this article by Bill McClellan of the St. Louis Post-Dispatch that discussed how a teacher with over 27 years of teaching experience in the Kirkwood area of Missouri lost her job. The interesting thing about the story is that the archdiocese decided to get rid of her, even though she didn’t seem to do much of anything wrong. She was told that “she lost her passion” and would not be retained.
Although this is just one small story, I think it serves as a microcosm of the changing nature of the informal social contract in American society. One of the reasons why some people look back upon the 1950s, 1960s, 1970s, 1980s, and 1990s with fondness is because it represented an American economic era in which you could put together a good life for yourself if you had a strong work ethic, showed up, and didn’t … Read the rest of this article!
At the 2018 Berkshire Hathaway shareholder meeting, Charlie Munger excoriated the get-rich-quick attitude of the younger generation that wrote him letter after letter seeking his approval to invest in Bitcoin. Munger responded, in characteristic fashion, by pointing out that everyone wants to start a bar, own the hottest stock, or seek a quick buck in the cryptocurrency market.
Of course, what I have enjoyed about following Charlie Munger throughout my life is that, not only will he explain to you the things that do not work so you won’t continue in folly, but he will often also provide a supplemental illustration of what does work instead.
Munger added that, when he would hang out at a particular Omaha country club in the 1960s, he encountered a man who started a company dedicated to removing dead horses and other large animals from the property’s of Omaha’s affluent. Across the entire extended … Read the rest of this article!