Why We Hate Millionaires

Today the easy headline is that the CEO of Lehman is the villain. This means you may boo and hiss. I was flipping through notes from this AMs CSPAN while watching the Rose interview with Warren Buffett. These two elements raise a question. Why do we loathe the millionaire CEOs, yet admire billionaire Buffett?

I came up with a half dozen things, ranging from cuddly, honest, etc … but my best answer would be that the CEOs want to make money, and to show that they have made money, while Warren wants to know how to make money. Warren seems excited by the problem. He is exuberant when confronted with a problem, searching enthusiastically for a way through. And in the end, he takes small reward from those outward components of wealth. He is driven by the problem of money, without being driven to consume money.

Berries

Bears find berries. Large wealth is made after a collapse. A common maxim, but why? With experiment, and proper, but sophisticated manipulation it has been demonstrated that if their is and overshoot do to enthusiasm or excess capital, then there will be a fall. The trade winds require tacking from side to side. Watching the wake of a sailing ship you find a “stock” ticker. Anyhow, some “fortune cookie” numbers. For every 5 overshot, there will be a falling of 15 as an attempt at correction. People do this when they fall down, or during an accidental skid. The overcorrection increases the damage, but only highly trained, highly practiced people survive by their skill. Most people survive an accident because of automatic safety measures and luck. Make your berries this time, but be patient. Some of you unfortunately don’t any other course of action than waiting. Let the bears feed. There are great fortunes to be made. Your time is coming.