No wonder Republicans don't like Buffet. He makes a ton of money, supports Democrats and calls out the destructive policies of the Republican party. Unfortunately there are not enough people like him around that will speak in such a blunt manner but since when has honesty and ethics been a strong point in executive boardrooms?
He compared money managers who promise double-digit returns to the queen in “Alice in Wonderland,” who proclaimed, “Why, sometimes I’ve believed as many as six impossible things before breakfast.” Mr. Buffett added, “Beware the glib helper who fills your head with fantasies while he fills his pockets with fees.”And a few choice words for the superstar CEOs who rake in millions upon millions. Stanley O'Neil of Merrill Lynch and Chuck Prince of Citigroup jump out to me. Both skated into retirement with tens of millions all based on shoddy business that has been wiped off the books.
“What is no puzzle, however, is why C.E.O.s opt for a high investment assumption: It lets them report higher earnings. And if they are wrong, as I believe they are, the chickens won’t come home to roost until long after they retire.”
