Monday, September 15, 2014

Warren Buffett, Values, and Motives

As near as I can tell, the investment philosophy of Warren Buffett is based on inherent value, and on investing for the long term, notions that have been foreign to much of main stream Wall Street for a long time.

I truly believe that Mr. Buffett understands that life is difficult for middle class and working Americans. The lives of most Americans vacillate between being tedious and boring to being excruciating and frightening. But life has some really great moments and events which some way, somehow make it all worthwhile. I'm pretty sure that Mr. Buffett understands this. And I believe that this understanding is reflected in his investment philosophy.

I tried to muster some righteous indignation over the Burger King inversion, but looking at values and motives I cannot. Since the inversion is designed to strengthen (possibly save) the company, and make it more competitive for the long term,  it is a good thing. And if they bring Tim Horton's clam chowder to the States it is a very good thing and may produce a few great moments.

The verdict in the corruption trial of former Governor Bob McDonnell illustrates this notion of values and motives in another way. The former governor's defense was predicated on the idea that his wife was responsible for all the high crimes, and that he was merely a victim, and had been separated from her for some time.

I personally believe that it is not my business, nor the public's business when it comes to what goes on between a husband and a wife, with the exception of outright abuse, regardless of who they are.

However, this man ran a campaign on family values. He claimed that his fundamental belief  in a Christian family made him a man in full and separated him from others. He intimated that his family should serve as a model. As a result of the trial, it is apparent that the values he actually holds, at best, illustrate his hypocrisy. And his motive, with hindsight, was to bamboozle the citizens of Virginia. When the chips were down he threw his wife under the proverbial bus. I guess, in this case, the Good Lord has decided to make Bob McDonnell pay for his sins.