Now when you read about Boone Pickens and Jimmy Goldsmith and the crew, they talk about creating value for shareholders. They aren’t creating value; they are transferring it from society to shareholders. That may be a good or bad thing, but it isn’t creating value - it’s not like Henry Ford developing the car or Ray Kroc figuring out how to deliver hamburgers better than anyone else. In the last few years, one company after another has been transformed by people who have understood this game. That means that every citizen owes a touch more of what is needed to pay for all the goods and services that the government provides. ~Warren Buffett
Posted on: Mon, 04 Aug 2014 02:26:21 +0000
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