Most published comments about Buffett or by Buffett are tautologous and non-Shannon. No information. OF COURSE you do better when you find the right stuff and stick with it. If you don’t understand this point you’re too dumb to breathe.
If it ain’t broke don’t fix it is the hallmark of CIVILIZATION.
Innovative Disruption is the hallmark of demonic psychopathic all-consuming obliterators.
This trader singles out a Buffett distinction that I hadn’t heard before. This is Shannon info to me. He says that Buffett’s fund concentrates entirely on passing along the actual returns of the holdings to the shareholders, with a small percentage staying in Warren’s hands. Most other funds make their money by charging huge FEES on both ends of every transaction. He calls fees ‘agency cost’, which is a confusing term. Friction is a simpler term.
This is the key difference between Bitcoin “trading” and normal capitalist activity. Bitcoin is designed and intended SOLELY for friction and viscosity. Like every scam in history, you think you’re gambling for gain, but you’re really paying a large and constant FEE to the “bank”. The “bank” manipulates the fast-changing fictional losses and gains to keep you addicted, and dazzles you with fancy “technologies” and “math” so you don’t notice the constant frictional loss.
Polistra's Mill 