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Comment by monkeynotes | Hacker News Reader

I imagine that when you are playing at the top of your game, everything seems like a game and that's the way you talk about it. Buffet is solely focussed on winning bets, that's how he got to where he is. People like Buffet fill a slot that is at the very foundation of capitalism. If you are terrified of rich, powerful business people you are in the wrong economic model. So far we are yet to find a better model, IMO.

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I'd you think the purpose of economics is to make the most money and not the most utility for human society, you say you are in the wrong economic model.

Tumors are the best growing parts of a body; that doesn't mean cancer is the ideal form of life

Who said it was the best economical model?

Human society is made up of individuals. Capitalism, as opposed to socialism puts the power of utility in the hands of the individual. Thus individuals strive to make the most of the economic landscape and this often means making as much money as they can.

Again, I am not saying it's perfect but it's worked pretty well for western values.

Is Warren upset that he went ouside his sweet spot when he bought major shares in American, Delta, Southwest and United airlines? His analysis showed that investing in airlines last century would have netted him precisely zero dollars. However, this century's tourism boom seems to have persuaded him that now was the time to set aside that analysis. So in he went. THEN the coronavirus pandemic hit. And out he scampered for a $7 billion dollar loss! I wonder what an experience like that does to one's psyche.

Unstable leaders lead to unstable markets. I doubt it did much to his psyche other than act as a reminder to be careful what you invest in during periods of political instability.

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