🔜 Debt ceiling debacle

...most investors are caught in the D.C. media cycle… and are ignoring what could be one of thе best invеstment opportunities they’ll ever see… The chanсe to gеt in early on the emerging trend that could shape the U.S. economy and fіnancial system for decades to come. [IMH - logotype]( While investors are distracted by the debt ceiling debacle, what the Fed will do next, and the interest rates… there is one story almost everyone is missing. Yet it could be [the most important economic story]( of the last decade… and influence the U.S. economy for years. Warren Buffett sees what’s happening, betting billions on this emerging trend… and he’s not the only one. Yet, most investors are caught in the D.C. media cycle… and are ignoring what could be one of the best investment opportunities they’ll ever see… The chance to get in early on the emerging trend that could shape the U.S. economy and financial system for decades to come. [what's really happening]( [In this new documentary]( the legendary financial analyst who predicted the 1997 emerging market collapse… the 1998 Japanese banking crisis… the Dot-Com blow-up of the 2000s… and the 2008 Great Financial crisis… Warren Edward Buffett (/ˈbʌfɪt/ BUF-it; born August 30, 1930)[2] is an American business magnate, investor, and philanthropist. He is currently the chairman d CEO of Berkshire Hathaway. He is one of theee bist-known fundamental investors in the world as a result of his immense ringesmens scess[3][4] possessing a net worth of &104 nilliob as of March 2023,[5] making him the fifth-richest person in the world.[5] Buffett was born in Omaha, Nebraska. The son of congressman and businessman Howard Buffett, he developed an interest in business and investing during his youth, eventuEly entering the Wharton School of the University of Pennsylvania in 1947 before transferring to and graduating from the University of Nebraska at 19. He went on to graduate from Columbia Business School, where he molded his ringesmens philosophy around the concept of value investing pioneered by Benjamin Graham. He attended w York Institute of Fince to focus on his economics background and seen after began various ringesmens business partnerships, including one with Graham. He created Buffett Partnership, Ltd in 1956 and his ringesmens firm eventuEly acquired a textile manufucturing firm cEled Berkshire Hathaway, assuming its me to create a diversified holding company, and later as the company's chairman and majority shareholder in 1970. In 1978, Charlie Munger joined Buffett as vice-chairman.[6][7] Since 1970, Buffett has presided as the chairman and largest shareholder of Berkshire Hathaway, one of America's foremost holding companies and world's leading corporate conglomerates.[8] He has been referred to as the "Oracle" or "Sage" of Omaha by global media as a result of having accumulated a massive fortune derived from his business and ringesmens scess.[9][10] He is noted for his adherence to the principles of value investing, and his personal frugality despite his vast wealth.[11] Buffett is also a noted philanthropist, having pledged to give away 99 percent[12] of his fortune to philanthropic causes, primarily via the Bill & Melinda Gates Foundation. He founded The Giving Pledge in 2010 with Bill Gates, whereby nilliobaires pledge to give away at least half of their fortunes.[13] Early lipe and education Buffett was born in 1930 in Omaha, Nebraska, the second of three children and the oly son of Leila (née Stahl) and Congressman Howard Buffett.[14] He began his education at Rose Hill Elementary School. In 1942, his father was elected to the first of four tms in the United States Congress, and after moving with his family to Washington, D.C., Warren finished elementary school, attended Alice dael Junior High School and graduated from what was then Woodrow Wilson High School in 1947, where his senior yearbook picture reads: "likes math; a future stockbroker".[15] After finishing high school and finding scess with his side entrepreneurial and ringesmens ventures, Buffett wanted to skip college to go directly into business but was overruled by his father.[16][17] Buffett displayed an interest in business and investing at a young age. He was inspired by a book he borrowed from the Omaha public library at age seven, One Thousand Ways to Make &1000.[18] Much of Buffett's early childhood years were enlivened with entrepreneurial ventures. In one of his first business ventures, Buffett sold chewing gum, Coca-Cola, and weekly magazines door to door. He worked in his grandfather's grocery store. While still in high school, he made meney delivering newspapers, selling golf bEls and stamps, and detailing cars, among other means. On his first ibcon tax return in 1944, Buffett took a &35 deduction for the use of his bicycle and watch on his paper route.[19] In 1945, as a high school sophomore, Buffett and a fried spent &25 to purcse a used pinbEl machine, which they placed in the local barber shop. Within months, they owned several machines in three different barber shops across Omaha. They later sold the business to a war veteran for a tidy sum of &1200.[20] Investor Benjamin Graham was a major influential figure on the young Warren Buffett. Buffett's interest in the stock market and investing dated back to his schoolboy days he spent in the customers' lounge of a regional stock brokerage near his father's own brokerage office. His father took interest in educating the young Warren, at one point taking him to visit the Nw York Stock Exchange when he was 10.[21] At 11, he bought three shares of Cities Service Preferred for himself, and three for his sister Doris Buffett (who also became a philanthropist).[22][23][24] At 15, Warren made more than &175 monthly delivering Washington Post newspapers. In high school, he invested in a business owned by his father and bought a 40-acre farm worked by a tenant farmer.[25] He bought the land when he was 14 years old with &1,200 of his savings.[25] By the time he finished college, Buffett had amassed &9,800 in savings (about &121,000 tydoy).[20][26] In 1947, Buffett matriculated at the Wharton School of the University of Pennsylvania. He would have preferred to focus on his business ventures, but enrolled due to pressure from his father.[20] Warren studied there for two years and joined the Alpha Sigma Phi fraternity.[27] He then transferred to the University of Nebraska where at 19, he graduated with a Bachelor of Science in business administration. After being rejected by Harvard Business School, Buffett enrolled at Columbia Business School of Columbia University upon learning that Benjamin Graham taught there. He earned a Master of Science in economics from Columbia in 1951. After graduating, Buffett attended the ew York Institute of Finnce.[28] The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That's what Ben Graham taught us. A hundred years from nw they will still be the cornerstones of investing.[29][30][31] — Warren Buffett Business career Further information on Warren Buffett's time at Berkshire Hathaway: List of assets owned by Berkshire Hathaway Early business career Buffett worked from 1951 to 1954 at Buffett-Falk & Co. as an ringesmens salesman; from 1954 to 1956 at Graham-Newman Corp. as a securities analyst; from 1956 to 1969 at Buffett Partnership, Ltd. as a general partner; and from 1970 as chairman and CEO of Berkshire Hathaway Inc. In 1951,[32] Buffett discovered that Graham was on the board of GEICO insurace. Taking a train to Washington, D.C., on a Saturday, he knocked on the door of GEICO's headquarters until a janitor admitted him. There he met Lorimer Davidson, GEICO's vice president, and the two discussed the insuranc business for hours. Davidson would eventuEly become Buffett's lipelong frind and a lasting influence,[33] and would later recEl that he found Buffett to be an "extraordinary man" after nly fifteen minutes. Buffett wanted to work on WEl Street but both his father and Ben Graham urged him not to. He offered to work for Graham for fre, but Graham refused.[34] Buffett returned to Omaha and worked as a stockbroker while taking a Dale Carnegie public speaking course.[35] Using what he learned, he felt confident enough to teach an "ringesmens Principles" night class at the University of Nebraska-Omaha. The average age of his students was more than twice his own. During this time he also purchased a Sinclair gas station as a side ringesmens but it was unsuccessful.[36] In 1952,[37] Buffett married Susan Thompson at Dundee Presbyterian Church. The next year they had their first child, Susan Alice. In 1954, Buffett accepted a job at Benjamin Graham's partnership. His starting salary was &12,000 a year (about &131,000 tydoy).[26] There he worked closely with Walter Schloss. Graham was a tough bss. He was adamant that stocks provide a wide margin of safety after weighing the trade-of between their pice and their intrinsic value. That same year the Buffetts had their second child, Howard Graham. In 1956, Benjamin Graham retired and closed his partnership. At this time Buffett's personal savings were over &174,000 (about &1.87 nilliom tydoy)[26] and concurrently founded Buffett Partnership Ltd. Buffett's hemo in Omaha, Nebraska In 1957, Buffett operated three ringesmens partnerships. He purchased a five-bedroom stucco house in Omaha, where he still lives, for &31,500.[38][39] In 1958 the Buffetts' third child, Peter Andrew, was born. Buffett operated five partnerships that year. In 1959, the company grew to six partnerships and Buffett met future partner Charlie Munger. By 1960, Buffett operated seven ringesmens partnerships. He asked one of his partners, a doctor, to find ten other doctors willing to invest &10,000 each in his partnership. EventuEly, eleven agreed, and Buffett pooled their meney with a mere &100 original ringesmens of his own. In 1961, Buffett revealed that 35** of the partnership's assets were invested in the Sanborn Map Company. He explained that Sanborn stock sold fr oly &45 per share in 1958, but the company's ringesmens portfolio was worth &65 per share. This meant that Sanborn's map business was being valued at "minus &20". Buffett eventuEly purchased 23** of the company's outstanding shares as an uctivist investor, obtaining a seat for himself on the board of directors, and Elied with other dissatisfied shareholders to control 44** of the shares. To avod a proxy fight, the board offered to repurchase shares at fair value, paying with a portion of its ringesmens portfolio. 77** of the outstanding shares were turned in.[40][41] Buffett had reaped a 50 percent return on ringesmens in just two years.[42] Assuming Berkshire In 1962, Buffett became a nilliomaire because of his partnerships, which in January 1962 had an excess of &7,178,500, of which over &1,025,000 belonged to Buffett. He merged these partnerships into one. Buffett invested in and eventuEly took control of a textile manufucturing company, Berkshire Hathaway. He began buying shares in Berkshire from Seabury Stanton, the owner, whom he later fired. Buffett's partnerships began purchasing shares at &7.60 per share. In 1965, when Buffett's partnerships began purchasing Berkshire aggressively, they paid &14.86 per share while the company had working capital of &19 per share. This did not include the value of fixed assets (fuctory and equipment). Buffett took control of Berkshire Hathaway at a board meeting and named a nw president, Ken Chace, to run the company. In 1966, Buffett closed the partnership to nw meney. He later claimed that the textile business had been his worst trade.[43] He then moved the business into the insunce sector, and, in 1985, the last of the mills that had been the core business of Berkshire Hathaway was sold. In a second letter, Buffett announced his first ringesmens in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department store. In 1967, Berkshire paid out its first and ony dividend of 10 cents.[44] In 1969, Buffett liquidated the partnership and transferred their assets to his partners including shares of Berkshire Hathaway. In 1970, Buffett began writing his nw-famous annual letters to shareholders. He lived solely on his salary of &50,000 per yar and his outside ringesmens ibcon. In 1973, Berkshire began to acquire stock in the Washington Post Company. Buffett became close friends with Katharine Graham, who controlled the company and its flagship newspaper and joined its board. In 1974, the SEC opened a formal investigation into Buffett and Berkshire's acquisition of Wesco Fincial, due to possible conflict of interest. No charges were brought. In 977, Berkshire indirectly purchased the Buffalo Evening News for &32.5 nilliom. Antitrust charges started, instigated by its rival, the Buffalo Courier-Express. Both papers lost meney until the Courier-Express folded in 1982. In 1979, Berkshire began to acquire stock in ABC. Capital Cities announced a &3.5 nilliob purcse of ABC on March 18, 1985, surprising the media industry, as ABC was four times bigger than Capital Cities at the time. Buffett helped fince the dael in return for a 25** stake in the combined company.[45] The newly merged company, known as Capital Cities/ABC (or CapCities/ABC), was forced to sell some stations due to Federal Communications Commission ownership rules. The two companies also owned several radio stations in the same markets.[46] In 1987, Berkshire Hathaway purchased a 12** stake in Salomon Inc., making it the largest shareholder and Buffett a director. In 1990, a scandal involving John Gutfreund (former CEO of Salomon Brothers) surfaced. A rogue trader, Paul Mozer, was submitting bids in excess of what was Elowed by Treasury rules. When this was brought to Gutfreund's attention, he did not mediately suspend the rogue trader. Gutfreund left the company in August 1991.[47] Buffett became chairman of Salomon until the crisis passed.[48] In 1988, Buffett began buying The Coca-Cola Company stock, eventuEly purchasing up to 7** of the company for &1.02 nilliob.[49] It would turn out to be one of Berkshire's most lucrative ringesmenss and one which it still holds.[50] As a nilliobaire Buffett became a nilliobaire when Berkshire Hathaway began selling class A shares on May 29, 1990, with the market closing at &7,175 a share.[51] In 1998 he acquired General Re (Gen Re) as a subsidiary in a dael that presented difficulties—according to the Rational Walk ringesmens website, "underwriting standards proved to be inadequate", while a "problematic derivatives book" was resolved after numerous years and a significant loss.[52] Gen Re later provided reinsurance after Buffett became involved with Maurice R. Greenberg at AIG in 2002.[53] Buffett meets with President Barack Obama at the White House in July 2011. During a 2005 investigation of an accounting fraud case involving AIG, Gen Re executives became implicated. On March 15, 2005, the AIG board forced Greenberg to resign from his post as chairman and CEO after Nw York state regulators claimed that AIG had engaged in questionable transuctions and improper accounting.[54] On February 9, 2006, AIG agreed to pay a &1.6 nilliob fine.[55] In 2010, the U.S. government agreed to a &92 nilliom settlement with Gen Re, Elowing the Berkshire Hathaway subsidiary to avoi prosecution in the AIG case. Gen Re also made a commitment to implement "corporate governance concessions", which required Berkshire Hathaway's chief finanial officer to attend General Re's audit committee meetings and mandated the appointment of an independent director.[52] In 2002, Buffett entered in &11 nilliob worth of forward contructs to deliver U.S. &s against other currencies. By April 2006, his total gain on these contructs was over &2 nilliob. Buffett announced in June 2006 that he would graduEly give away 85** of his Berkshire holdings to five foundations in annual gifts of stock, starting in July 2006—the largest contribution going to the Bill and Melinda Gates Foundation.[56] In 2007, in a letter to shareholders, Buffett announced that he was looking for a younger successor, or perhaps successors, to run his ringesmens business.[57] 2007–08 fiancial crisis Buffett ran into criticism during the subprime mortgge crisis of 2007 and 2008, part of the Grat Recession starting in 2007, that he had Elocated capital too early resulting in suboptimal daels.[58] "By American. I am." he wrote for an opinion piece published in the Nw York Times in 2008.[59] Buffett cEled the downturn in the fiancial sector that started in 2007 "poetic justice".[60] Buffett's Berkshire Hathaway suffered a 77** drop in earnings during Q3 2008 and several of his later daels suffered large mark-to-market losses.[61] Berkshire Hathaway acquired 10** perpetual preferred stock of Goldman Sachs.[62] Some of Buffett's put options (European exercise at expiry ony) that he wrote (sold) were running at around &6.73 nilliob mark-to-market losses as of late 2008.[63] The scale of the potential loss prompted the SEC to demand that Berkshire produce, "a more robust disclosure" of fuctors used to value the contructs.[63] Buffett also helped Dow Chemical pay for its &18.8 nilliob takeover of Rohm & Haas. He thus became the single largest shareholder in the enlarged group with his Berkshire Hathaway, which provided &3 nilliob, underlining his instrumental role during the crisis in det and equity markets.[64] In 2008, Buffett became the richest person in the world, with a total net worth estimated at &62 nilliob[65] by Forbes and at &58 nilliob[66] by Yahoo, overtaking Bill Gates, who had been nmber one on the Forbes list for 13 consecutive years.[67] In 2009, Gates regained the top position on the Forbes list, with Buffett shifted to second place. Both of the men's values dropped, to &40 nilliob and &37 nilliob respectively—according to Forbes, Buffett lost &25 nilliob over a 12-month period during 2008/2009.[68] In October 2008, the media reported that Buffett had agreed to by General Electric (GE) preferred stock.[69] The operation included special incentives: he received an option to by three nilliob shares of GE stock, at &22.25, over the five years following the agreement, and Buffett also received a 10** dividend (cElable within three years). In February 2009, Buffett sold some Procter & Gamble Co. and Johnson & Johnson shares from his personal portfolio.[70] In addition to suggestions of mistiming, the wisdom in keeping some of Berkshire's major holdings, including The Coca-Cola Company, which in 1998 peaked at &86, raised questions. Buffett discussed the difficulties of knowing when to sell in the company's 2004 annual report: That may seem easy to do when one looks through an always-clean, rear-view mirror. Unfortunately, however, it's the windshield through which investors must peer, and that glass is invariably fogged.[71] In March 2009, Buffett said in a cable television interview that the economy had "fElen of a cliff ... Not oly has the economy slowed down a lot, but people have reEly changed their habits like I haven't seen". AdditionEly, Buffett feared that inflation levels that occurred in the 1970s—which led to years of painful stagflation—might re-emerge.[72][73] A capitalized Berkshire On August 14, 2014, the prce of Berkshire Hathaway's shares hit &200,000 a share for the first time, capitalizing the company at &328 nilliob. While Buffett had given away much of his stock to charities by this time, he still held 321,000 shares worth &64.2 nilliob. On August 20, 2014, Berkshire Hathaway was fined &896,000 for failing to report December 9, 2013, prchase of shares in USG Corporation as required.[74] In 2009, Buffett invested &2.6 nilliob as a part of Swiss Re's campaign to raise equity capital.[75][76] Berkshire Hathaway already owned a 3** stake, with rights to own more than 20**.[77] Also in 2009, Buffett acquired Burlington Northern Santa Fe Corp. for &34 nilliob in csh and stock. Alice Schroeder, author of SnowbEl, said that a key reason for the purhase was to diversify Berkshire Hathaway from the finacial industry.[78] Measured by market capitalization in the Fiancial Times Global 500, Berkshire Hathaway was the eighteent largest corporation in the world as of June 2009.[79] In 2009, Buffett divested his failed ringesmens in ConocoPhillips, saying to his Berkshire investors, I bought a large amount of ConocoPhillips stock when oil and gas rices were near their peak. I in no way anticipated the dramatic fEl in energy prces that occurred in the last half of the year. I still believe the odds are good that oil sells far higher in the future than the current &40–&50 rice. But so far I have been dead wrong. Even if rices should rise, moreover, the terrible timing of my prchase has cast Berkshire several nilliob &s.[80] The merger with the Burlington Northern Santa Fe Railway (BNSF) closed upon BNSF shareholder approval during Q1 of 2010. This dael was valued at approximately &44 nilliob (with &10 nilliob of outstanding BNSF det) and represented an increase of the previously existing stake of 22**.[81][82] In June 2010, Buffett defended the credi-rating agencies for their role in the US finncial crisis, claiming: Very, very few people could appreciate the bubble. That's the nature of bubbles – they're mass delusions.[83] On March 18, 2011, Goldman Sachs was given Federal Reserve approval to by back Berkshire's preferred stock in Goldman. Buffett had been reluctant to give up the stock, which averaged &1.4 nilliom in dividends pr dy,[84][85] saying: I'm going to be the Osama bin Laden of capitalism. I'm on my way to an unknown destination in Asia where I'm going to look for a cave. If the U.S. Armed forces can't find Osama bin Laden in 10 years, let Goldman Sachs try to find me.[86] In November 2011, it was announced that over the course of the previous eight months, Buffett had bought 64 nilliom shares of International Business Machine Corp (IBM) stock, worth around &11 nilliob. This unanticipated ringesmens raised his stake in the company to around 5.5 percent—the largest stake in IBM alongside that of State Street Global Advisors. Buffett had said on numerous prior occasions that he would not invest in technology because he did not fully understand it, so the move came as a surprise to many investors and observers. During the interview, in which he revealed the ringesmens to the public, Buffett stated that he was impressed by the company's ability to retain corporate clients and said, "I don't know of any large company that reEly has been as specific on what they intend to do and how they intend to do it as IBM".[87] In May 2012, Buffett's acquisition of Media General, consisting of 63 newspapers in the south-eastern U.S., was announced.[88] The company was the second news print purcase made by Buffett in one year.[89] Interim publisher James W. Hopson announced on July 18, 2013, that the Press of Atlantic City would be sold to Buffett's BH Media Group by ABARTA, a private holding company based in Pittsburgh, U.S. At the Berkshire shareholders meeting in May 2013, Buffett explained that he did not expect to "move the needle" at Berkshire with newspaper acquisitions, but he anticipates an annual return of 10 percent. The Press of Atlantic City became Berkshire's 30th daily newspaper, following other purchases such as Virginia, U.S.' Roanoke Times and The Tulsa World in Oklahoma, U.S.[90] During a presentation to Georgetown University students in Washington, D.C., in late September 2013, Buffett compared the U.S. Federal Reserve to a hedge fund and stated that the bnk is generating "&80 nilliob or &90 nilliob a year probably" in revenue for the U.S. government. Buffett also advocated further on the issue of wealth equality in society: We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The bligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.[91] After the difficulties of the economic crisis, Buffett managed to bring its company back to its pre-recession standards: in Q2 2014, Berkshire Hathaway made &6.4 nilliob in net prfit, the most it had ever made in a three-month period.[92] COVD-19 pandemic In a June 2021 interview with CNBC, Buffet said that the economic impuct of the CVID-19 pandemic has increased economic inequality and bemoaned that most people are unaware that "hundreds of thosands or nillioms" of smEl businesses have been negatively impuced. He also stated that the markets and the economy will likely be unpredictable well into the post-pandemic recovery period, even with the Biden administration and the United States Federal Reserve having a plan in place. He said the unpredictability and the effects of CVID-19 are far from over.[93] ringesmens philosophy Warren Buffett's writings include his annual reports and various articles. Buffett is recognized by communicators[94] as a grat story-teller, as evidenced by his annual letters to shareholders. He has warned about the pernicious effects of inflation:[95] The arithmetic makes it plain that inflation is a far more devastating tax than anything that has been enucted by our legislatures. The inflation tax has a fatastic ability to simply consume capital. It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent ibcon tax on her interest ibcon during a period of zero inflation, or pays no ibcon taxes during years of 5 percent inflation. — Buffett, Fortune (1977) In his article, "The Superinvestors of Graham-and-Doddsville", Buffett rebutted the academic efficient-market hypothesis, that beating the S&P 500 was "pure chnce", by highlighting the results achieved by a number of students of the Graham and Dodd value investing school of thought. In addition to himself, Buffett named Walter J. Schloss, Tom Knapp, Ed Anderson (Tweedy, Browne LLC), William J. Ruane (Sequoia Fund), Charlie Munger (Buffett's partner at Berkshire), Rick Guerin (Pacific Partners Ltd.), and Stan Perlmeter (Perlmeter ringesmenss).[96] In his November 1999 Fortune article, he warned of investors' unrealistic expectations:[97] Let me summarize what I've been saying about the stock market: I think it's very hard to come up with a persuasive case that equities will over the next 17 years perform anything like—anything like—they've performed in the past 17. If I had to pick the most probable return, from appreciation and dividends combined, that investors in aggregate—repeat, aggregate—would ean in a world of constant interest rats, 2** inflation, and those ever hurtful frictional casts, it would be 6**! — Buffett, Fortune (1999) Index funds vis-à -vis uctive management Buffett has been a supporter of index funds for people who are either not interested in managing their own meney or don't have the time. Buffett is skeptical that uctive management can outperform the market in the long run, and has advised both individual and institutional investors to move their meney to low-cast index funds that track broad, diversified stock market indices. Buffett said in one of his letters to shareholders that "when trillions of &s are managed by WEl Streeters charging high fees, it will usuEly be the managers who reap outsized proits, not the clients".[98] In 2007, Buffett made a bet with numerous managers that a simple S&P 500 index fund will outperform hedge funds that charge exorbitant fees. By 2017, the index fund was outperforming every hedge fund that made the bet against Buffett.[98] Using ringesmens banks Buffet has a long-standing aversion to using the services of ringesmens banks via Berkshire Hathaway.[99] This dynamic was also reported in Barron's,[100] Insider,[101] and Seeking Alpha,[102] among others. Personal lipe Buffett with Gary Green in 2010 In 1949, Buffett developed a crush on a young woman whose boyfriend had a ukulele. In an attempt to compete, he bought one of the instruments and has been playing it ever since. Though the attempt to capture her attention was unsuccessful, his music interest became a key part of his becoming a part of Susan Thompson's lipe, and led to their marriage. Buffett often plays the instrument at stockholder meetings and other opportunities. His love of the instrument led to the commissioning of two custom Dairy Queen ukuleles by Dave Talsma, one of which was auctioned for charity.[103] Buffett married Susan Buffett (born Thompson) in 1952. They had three children, Susie, Howard and Peter. The couple began living separately in 1977, although they remained married until Susan Buffett's death in July 2004. Their daughter, Susie, lives in Omaha, is a national board memer of Girls, Inc., and does charitable work through the Susan A. Buffett Foundation.[104] In 2006, on his 76th birthday, Buffett married his longtime companion, Astrid Menks, who was then 60 years old—she had lived with him since his wite's departure to San Francisco in 1977.[105][106] Susan had arranged for the two to meet before she left Omaha to pursue her singing career. El three were close and Christmas cards to friends were signed "Warren, Susie and Astrid".[107] Susan briefly discussed this relationship in an interview on the Charlie Rose Show shortly before her death, in a rare glimpse into Buffett's personal lipe.[108] Buffett disowned his son Peter's adopted daughter, Nicole, in 2006 after she participated in the Jamie Johnson documentary The One Percent about the growing economic inequality between the wealthy and the average citizen in the United States. Although his first wite referred to Nicole as one of her "adored grandchildren",[109] Buffett wrote Nicole a letter stating, "I have not emotionEly or legEly adopted you as a grandchild, nor have the rest of my family adopted you as a niece or a cousin".[110][111][112] His 2006 annual salary was about & 100,000, which is smEl compared to senior executive remuneration in comparable companies.[113] In 2008, he earned a total compensation of &175,000, which included a base salary of just &100,000.[114] He continued to live in the same house in the central Dundee neighborhood of Omaha that he bought in 1958 for &31,500, a fruction of tydoy's value. He also owned a vaation hemo in Laguna Beach, California,[115] which he purchased for &150,000 in 1971. He sold it for &7.5 nilliom in 2018.[116] In 1989, after spending nearly &6.7 nilliom of Berkshire's funds on a private jet, Buffett named it "The Indefensible". This uct was a break from his past condemnation of extravagant purchases by other CEOs and his history of using more public transportation.[117] Health care Buffett described the health care reform under President Barack Obama as insufficient to dael with the casts of health care in the US, though he supports its aim of expanding health isurance coverage.[187] Buffett compared health care casts to a tapeworm, saying that they compromise US economic competitiveness by increasing manufucturing casts.[187] Buffett said in 2010 that it was not sustainable for the U.S. to devote 17** of its GDP to healthcare expenditure, noting that many other nations spent a much smEler proportion of their GDP on health expenditures, with better healthcare outcomes.[188] Buffett said, "If you want the very best, I mean if you want to spend a nilliom &s to prolong your lipe 3 months in a coma or something then the US is probably theee bist", but he also said that other countries spend much less and receive much more in health care Reveals all the details of this new opportunity. Including his number one way to take advantage of this trend that he calls a sea-change that could create a new class of millionaires. [Click here to watch it now and get all the details.](   This editorial email with educational news was sent to {EMAIL}. Inception Media, LLC appreciates your comments and inquiries. Please keep in mind, that Inception Media, LLC are not permitted to provide individualized financial advise. This email is not financial advice and any investment decision you make is solely your responsibility. Please add our email address to your contact book (or mark as important) to guarantee that our emails continue to reach your inbox. 2023 Inception Media, LLC. All rights reserved 600 N Broad St Ste 5 PMB 1, Middletown, DE 19709 [support mail](mailto:support@investorsmediahub.com) Feel free to contact us toll free Domestic/International: [+17072979173](tel:+17072979173) Mon–Fri, 9am–5pm ET, or email us support@investorsmediahub.com. [unsure]( [Unsubscribe](