Thursday, December 24, 2009

Warren Buffet's demon spawn and the worthless heir problem 

Apparently there are some disgusting people among Berkshire Hathaway's stockholders. The story being in Harper's, we are no doubt supposed to think this is a condition of the "rich." Myself, I've never seen a demographic or socio-economic group that did not have its share of icky people.

Anyway, those among you who are jealous of the "Berkshire heirs" would do well to remember Francisco d'Anconia's timeless and important advice:

Only the man who does not need it, is fit to inherit wealth--the man who would make his own fortune no matter where he started. If an heir is equal to his money, it serves him; if not, it destroys him. But you look on and you cry that money corrupted him. Did it? Or did he corrupt his money? Do not envy a worthless heir; his wealth is not yours and you would have done no better with it. Do not think that it should have been distributed among you; loading the world with fifty parasites instead of one, would not bring back the dead virtue which was the fortune. Money is a living power that dies without its root. Money will not serve the mind that cannot match it.

Got that?


By Blogger Don Cox, at Fri Dec 25, 04:46:00 AM:

Great quote, very well expressed.


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