Money and Finance
- Investors Earn Handsome Paychecks By Handling Buffett's Business
Found via the Corner of Berkshire & Fairfax. Warren Buffett's decision to hire two investment lieutenants is paying off for Berkshire Hathaway, and it's paying off for the two younger money managers, too. Todd Combs, 42, and Ted Weschler,...
- Ray Dalio Quote
“The bets are zero sum. In order for you to beat me in the game, it’s like poker, it’s a zero sum game. We have 1,500 people that work at Bridgewater, we spend hundreds of millions of dollars on research, and so on. We’ve been...
- Buffett's Olympic Discovery
They showed a small clip of Ariel’s journey to the Olympics in the Berkshire movie that played right before the annual meeting started this year. It is a great story of working hard to achieve a dream. Ariel Hsing was 11 when Warren Buffett first recruited...
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...
- Steven Crist: Publisher And Columnist, Daily Racing Form
I am here to talk about why most of what you have heard about horse racing is wrong, and why horse racing is much more similar to what you do than other forms of gambling. The general public probably thinks that for the most part, horse racing is just...
Money and Finance
Inside Warren Buffett's Private Poker Game
Found via the Corner of Berkshire and Fairfax.
Warren Buffett is a famously world-class bridge player, putting in 12 hours a week at the table, often with Bill Gates, and sponsoring the Buffett Cup, which mimics golf’s Ryder Cup, except with cards. “Every hand fascinates me,” he recently told me, in explaining this obsession. But relatively quietly, over the past seven years he’s emerged as the host of one of the planet’s most exclusive poker games.
While the World Series of Poker Main Event remains the most famous and prestigious tournament, a ten-day-long bacchanal that satisfies ESPN’s late-night programming needs for months, it’s also open to anyone with $10,000 and a dream. The NetJets Poker Invitational, run by Berkshire Hathaway‘s private-jet subsidiary, has a much steeper hurdle: Players must be a NetJets fractional owner (minimum cost: $200,000), with a select few heavy Marquis Jet Card owners sprinkled in.
However enticing the $500,000 prize pool–the big winner has the option of ten hours of time on a Bombardier Global 5000, worth $150,000, and the top ten all get something heady–the true stakes are measured in ego. As at the World Series of Poker, Texas Hold ‘Em is nothing more than a betting and bluffing game, and tournaments like this appeal to the same primal instincts as in an ancient battle royale, combated via brains and daring. Because the player pool is exclusively comprised of people successful for reasons other than cards, bragging rights feel as tangible as a Main Event winner’s bracelet. Plus Buffett lords over all of it, as host, mascot and, most notably, target. Knocking the Oracle of Omaha out of the tournament is the poker equivalent of beating Jack Nicklaus at a charity closest-to-the-hole contest.
- Investors Earn Handsome Paychecks By Handling Buffett's Business
Found via the Corner of Berkshire & Fairfax. Warren Buffett's decision to hire two investment lieutenants is paying off for Berkshire Hathaway, and it's paying off for the two younger money managers, too. Todd Combs, 42, and Ted Weschler,...
- Ray Dalio Quote
“The bets are zero sum. In order for you to beat me in the game, it’s like poker, it’s a zero sum game. We have 1,500 people that work at Bridgewater, we spend hundreds of millions of dollars on research, and so on. We’ve been...
- Buffett's Olympic Discovery
They showed a small clip of Ariel’s journey to the Olympics in the Berkshire movie that played right before the annual meeting started this year. It is a great story of working hard to achieve a dream. Ariel Hsing was 11 when Warren Buffett first recruited...
- Evolution: A Game Of Chance
One of the toughest concepts to grasp about evolution is its lack of direction. Take the classic image of the evolution of man, from knuckle-walking ape to strong, smart hunter: We view this as the natural progression of life. Truth is, there was no guarantee...
- Steven Crist: Publisher And Columnist, Daily Racing Form
I am here to talk about why most of what you have heard about horse racing is wrong, and why horse racing is much more similar to what you do than other forms of gambling. The general public probably thinks that for the most part, horse racing is just...