Showing posts with label Warren Buffett. Show all posts
Showing posts with label Warren Buffett. Show all posts

Monday, 20 April 2020

TALKING 'BOUT MY GENERATION....

I noticed something about four weeks ago. People whom I met would stop 10 feet away cock their head on one side and murmur “how are you dear?” And as I bellowed that I was tremendously well they’d shake their head pityingly and walk away saying “do take care”.


If you are over 70, you’re  going to die and probably quite soon. Grey hair is a giveaway like a facial rash of livid red spots once was. That’s why I’m thinking about buying a Harley Davidson. To make a point.


This iconic and successful brand in the early days thought its sales success was owing to hairy biker and ravers like Pete Townshend (the Who – now 74). But research showed the most important purchasers were middle-aged accountants who wanted to drive noisily through towns, crouched over the handlebars, frightening people.

The Government is thinking of easing the lockdown in cohorts ending with the 70+ and those who are very vulnerable until well, possibly Autumn 2021, when a vaccine may be available.
I’ve always deplored antisemitism (or racism of any kind). But I’m now a victim of ageism and I don’t like it. (“Don’t you dear? Sit down – you’ll feel better.”)

I particularly deplored an article by Philip Collins in the Times who advanced the argument roughly thus: we boomers had, through house price-inflation achieved extreme wealth  through doing nothing and should jolly well move out, give back the money and go into a care home.

Sorry Philip …I struggle for the right word . Not sure but I think it’s bollocks.

We are the same age as the US President, his likely opponent in the forthcoming Presidential election and the Pope. Warren Buffett for goodness sake  is 89 and he’s not exactly a slouch.


We must look at history to see what our lazy generation achieved.  In 1959 our Prime minister Harold MacMillan said “you’ve never had it so good”. But let’s face it the bar was very low.

We were pretty well bankrupt.
Top of the Hit Parade was a piano piece by Russ Conway called “Side Saddle”.
Our banking sector was fragmented and parochial.
Advertising was controlled by the Americans.
The money spent on house improvement, self-improvement, fashion and fitness was negligible.

But things changed. We spent wealth we earned on improving things. Here’s a glimpse of the growth post 1959 we achieved.

Output adjusted for inflation and measured in 2013 prices

World leaders in advertising,  creative writing, comedy and in  theatre,  (briefly) in fashion, world leaders in grocery retailing, European leaders in banking, global top capital city, top football league our Premier Division, four of the world’s top universities and in civilisation.

Don’t say we were lazy. The last half century has been the sweatiest and most creative in our history.
Today we are back, maybe nearer to 1959 than we’d like to believe. The new generation has to do what we did all over again.

Hopefully with our help - unless we’ve been put in care homes of course.

This could be an adventure. And we know how to do it…..because we’ve done it.

Monday, 6 June 2016

AGE SHALL NOT WITHER....


On Sunday summer kicked off and we had one of those balmy bumble-bee-buzzing days. As I sat on our balcony catching the whiff of burning BBQ meat I began to drift off in that I’m- floating-away-like-a-balloon way. My last cogent thought was it would be poor form if our world leaders were caught doing this. We expect them to be at it thinking and strategizing 24/7/365. As I slept I imagined George Osborne (45) was in the Treasury surrounded by economists plotting our future.

But in America come November the candidates for the world’s top job will be two months shy of 70, 70 ½ and (if you include Bernie Sanders) 75. So chances are they’ll be snoozing quite a lot. As will Putin (64) - he sleeps in late apparently. Age derided by some - a client of mine described Jack Welch as an “old fossil” (81) doesn’t seem to have damaged Warren Buffett (86) too much.


Anyway maybe snoozing lightly and thinking about stuff is a good way of sorting out complex thoughts. Nobel prize-winner Daniel Kahneman (82) whose award was for his studies of the human-mind, believes our just sub-conscious is operating at its best when left alone to do its work. (My best work is often done when I’m asleep.)

But something strange is happening in America. Not only are the candidates rather odd as well as old in a country where glamour is one of the most highly rated qualities - hence the adulation of JFK. They have Trump intent on “winning bigly” and Hillary snatching defeat from victory’s jaws and Bernie - think intellectual Corbyn (67) -  who has grabbed the imagination of youth by things like:
“If a financial institution is too big to fail, it is too big to exist”

But given that age isn’t an obstacle or not the obstacle that it once seemed why, oh why didn’t Josiah Bartlett stand (aka Martin Sheen (75) of “West Wing”)?


Maybe we’ve just got the age thing wrong - wisdom is one of the greatest under-used assets. And wisdom increases with the perspective of age for some whilst the ability to create is undimmed.  Roger Daltrey, (72) co-founder of the Who still has “magic in his eyes” and still performs so long as he thinks he’s “got it”. So do the Stones (Jagger will be 73 in November) and so does Bob Dylan (75) and Leonard Cohen (82).

Maybe, just maybe all these old fossils have something to offer that would prevent the hyper-active get things moving at all costs.

We need our Vardy’s (29) up front and doing battle but we also need Claudio Ranieri (65) - the Leicester City Manager - managing the affairs of state, guiding and inspiring their young talent.

 As he says:

 "I am happy when our fans are happy, when our players are happy and our chairman is on the moon."

(All ages shown are as of November 2016 - US Election month)


Monday, 28 March 2016

WHY I LIKE SPRING AND EASTER SO MUCH

I have spent the past week feeling refreshed.

Originally the word “Easter” comes from the Saxon ‘Eostre’, the pagan Goddess of Spring which in turn came from the Germanic ‘Austro’ - the Goddess of Dawn. From its outset Easter was always magical. The Christian story of the risen Christ made it much more so.


Something magical still happens every year. Welcome to spring flowers; to plucky battalions of daffodils; to some experimental bursts of sunshine and lambs gambolling.  In April we put on walking shoes to go on pilgrimage like Chaucer.

Change is in the air and, of course, more sunlight makes life easier. This and a degree of gastronomic restraint as opposed to the mandatory, bloated excess of Christmas means this season of celebration leaves us feeling ready to get going.

So, yes, I feel terrific and my good humour even extends to the bunch of jokers who’d been making me rather grumpy recently.

What do this lot have in common? Trump; Putin; Farage; Johnson.

And of course you’re right.

Extravagant egos; wrong people to run anything; irresolute yet dictatorial; will do/say anything to get their own way. They make Kevin Spacey acting the part of Frank Underwood in “House of Cards” look very electable.  They have all pandered or are currently pandering to a vision of the present and future forged entirely out of a nostalgic image of former glory. But to be fair they have the capacity to entertain us as well as baffle.

Hence my good humour. I suddenly realised I was taking what they said much too seriously. The best way to debunk is to deflate with laughter. And anyway the premise of an argument solely based on rationality will inevitably fail. As that supple brained Ad Man Rory Sutherland recently noted, on issues like the EU or the America Presidency or which house to buy or whom to marry, emotion rightly plays a large part.

When I turn on the news or I read the paper I often find I’m reduced to frothing rage.
But then when I see a front cover of Private Eye like this one….


….or I see the cartoon of Paul Daniels’ funeral at which someone is sawing his coffin in half saying “it was how he’d have wanted it” , I feel much better.

So a diet of roast lamb, minted potatoes and Cote de Beaune plus walking in bluebell woods (soon) plus a lot of good old fashioned, squirm provoking and sharp satire plus a resolution to be much nicer to people will do me well enough.


We live in uncertain times said billionaire Warren Buffett. Well yes, but what fun that uncertainty creates. Every day is a cliff-hanger. And the great thing about spring is it signifies the end of a winter of discontent

So I’ve resolved to start listening more and laughing a lot more.

Join me - a very happy spring and Easter to everyone.