The Warren and Charlie Show at Berkshire Hathaway’s Annual Meetings

Berkshire Hathaway Annual Meetings

Berkshire Hathaway Annual Meetings

At the Berkshire Hathaway annual shareholders meetings in Omaha, Warren Buffet and Charlie Munger sit at the center of the stage in front of a dark sea of shareholders. Warren Buffet first fields questions from the audience and a panel of journalists and stock analysts. Warren answers them and will ramble on a bit in his unique way (often with a one-liner or two mixed in) for a few minutes.

Then, Warren will look over to his partner and query, “Charlie?” Then Charlie Munger will either lean in and make a sharp, critical, pithy, often derisive comment (which usually extracts gasps or loud chuckles from the audience) or simply remark, “I have nothing to say,” which can be entertaining particularly after a long-winded digression from Warren Buffett.

Berkshire Hathaway annual shareholders meetings are normally held on the first Saturday of May in Omaha, Nebraska.

Berkshire Hathaway Annual Meetings

Berkshire Hathaway Annual Meetings

Berkshire Hathaway Annual Meetings

Recommended Reading

Victor Hugo’s Finest Peom: “To the One Who Stayed in France”

Victor Hugo, French Poet, Novelist, and Dramatist Victor Hugo wrote “Notre-Dame de Paris” (1831), usually translated as “The Hunchback of Notre Dame”, when he was in his twenties. Set in fifteenth century Paris, The Hunchback of Notre Dame tells a moving story of a gypsy girl Esmeralda and the deformed, deaf bell-ringer, Quasimodo, who loves her. The success of the book in France gained Hugo great fame and renown. He used his celebrity to criticize the autocratic regime of Napoleon III and encourage the French to revolt.

Napoleon III declared Hugo an enemy of the state. In 1851, just before soldiers arrived to arrest him at his home, Hugo managed to flee the country in disguise. He lived in exile in Guernsey, an island in the English Channel, until the revolution against Napoleon III in 1870.

In exile, Hugo wrote at a fast pace. “Les Châtiments” (“Castigations”,) a volume of aggressive invectives against the emperor, appeared in 1853.

It was also during his exile that he wrote his masterpiece, “Les Misérables” (1865), about Jean Valjean and other characters’ struggles for human rights, love, revolution, and redemption through a period of 18 years. Les Misérables was hugely popular, and when Hugo returned to his homeland in 1870, he was elected to the Senate of the new Third Republic. By the time he died in 1885, at the age of 83, he was a national hero. In Paris, two million mourners joined his funeral procession from the Arc de Triomphe to the Panthéon, where he is buried.

Laments For Leopoldine, the “One Who Stayed in France”

Leopoldine Hugo, Daughter of Victor Hugo, the In 1843, Hugo’s oldest and favorite daughter, the 19-year old Léopoldine Hugo, drowned shortly after her marriage in a boating accident in the river Seine at Villequier in northern France. When her boat overturned, she was pulled down by her heavy skirts. Her young husband Charles Vacquerie also died while trying to save her.

“Les Châtiments” was followed by “Les Contemplations” (1856), (“The Contemplations”,) the belated laments for Leopoldine. “Les Contemplations” concludes with “To the One Who Stayed in France,” a major elegy and one of Hugo’s grandest poems.

“To the One Who Stayed in France”

During his exile in the English channel, Hugo was unable to continue his annual visits to his daughter’s grave. Hugo offered “Les Contemplations” as surrogate, and asked a minimal favor of the visionary world; some hope that his daughter somehow will receive “this strange gift of the Exile to the Dead!” in her eternal rest.

Well, may at least this book, this somber message, reach
The silence as a murmur
The shore as a wave! May it fall there—sigh or love-tear!
May it enter the grave where youth, dawn, kisses,
Dew, the laughter of the bride,
Radiance and joy have already gone—and my heart along with them:
Indeed, that has never come back! And may it be
A song of mourning, the cry of a hope that can never tell lies,
The sound of a pale farewell in tears, a dream whose wing
We feel brushing against us lightly! May she say:
“Someone is out there—I can hear a noise!”
May it sound in her darkness like the footstep of my soul!

Victor Hugo (from “The Contemplations translated by E. H and A. M. Blackmore”)

THAILAND: The Best Sights, Destinations, and Experiences (ASEAN Travel)

Thailand - Land of Smiles

Millions of visitors flock to the ‘Land of Smiles’ every year and it is easy to see why. Whether you want to party, laze on a beach, or stuff yourself with local delicacies, Thailand has something for everyone. Beyond its more obvious attractions, however, a little deeper exploration yields up Thailand’s subtler charms.

Thailand: At a Glance

Experience the Best Attractions of Thailand

  1. Muay Thai, Thai Boxing Boxing Days: Grueling training sessions, a rudimentary diet and sparse facilities—these are the staples of training for Muay Thai or Thai boxing. There are special camps run across the country that offer short-term courses for visitors. Most have English-speaking instructors, and training periods can range from one day to a few weeks. Check out the Lanna Muay Thai Boxing Camp in Chiang Mai and the Muay Thai Institute in Bangkok.
  2. Biking in Thailand Biker Fun: Thailand is great for two-wheeled exploration, as long as you can deal with crazy traffic. Check out the Big Bike Company in Patong. They rent out Honda CB 400 cc motorbikes that are fun and fast. Your inner petrol head will certainly be happy, especially when you hit the long, winding roads.
  3. Red Curry from Thai Cooking Cook up a Storm: If you love Thai food and like pottering in the kitchen, why not combine the two and take in a Thai cooking class. The Baipai Thai Cooking School in Bangkok is a well-known institute in a beautiful location, and offers short courses run by English-speaking instructors. If you are in Phuket, the Phuket Thai Cookery School offers you a haven from the noise and bustle of the city. Located on Siray Beach, you can couple your cooking classes with panoramic ocean views and then walk off a meal in the evening or even take a siesta on the wooden sundeck.
  4. Adventure Sports in Nakhon Nayok, Thailand Leave the Road Behind: Go off the beaten track and indulge in some soft adventure sports in Nakhon Nayok. From rappelling to cutting through forests and streams on ATVs and white-water rafting, there are lots here for the intrepid adventure-lover.
  5. Unrestrained water fight, Songkran Festival, Thailand Get Wet: Thailand turns into a free-for-all water park once a year. The Songkran Festival is an unrestrained water fight, and visitors are fair game, both to be soaked and to do the soaking Images of the Buddha are ‘bathed’ and young Thais seek the blessing of their elders by pouring scented water over their hands. Held at the peak of the hot season, Songkran is quite literally a chance for the entire country, and all its visitors, to cool off.
  6. Turquoise Waters, Phuket, Thailand Join the (Yacht) Club: If your sailor self has been feeling neglected for a while, and you are feeling especially indulgent, Thailand has many great yachting options. A sailing holiday in Thailand is an especially beautiful experience with the turquoise waters of the Andaman Sea and swimming and snorkeling at your leisure. Most trips are around Phuket and Koh Samui, and you will get to see other islands as well.
  7. Koh Phangan's Sanctuary Island Resort Kick Back: Take a break from all that activity at Koh Phangan’s Sanctuary Island Resort. The Sanctuary is a laid back, alternative health resort on a isolated beach fringed by tropical forest and tropical seas. Your mind and body will both leave refreshed and ready to take on the world again.
  8. Loi Krathong, Thailand's festival of lights Festival of Lights: Come November, Thailand transforms into a veritable fairyland of lights, Loi Krathong is Thailand’s festival of lights held on the full moon night of the 12th lunar month of the year. If you are lucky enough to be staying on the coast, you will be able to see lights stretching far out across the water. The word ‘loy’ means ‘to float’ while ‘krathong’ is the lotus-shaped receptacle. Originally, the krathong was made of banana leaves or a spider lily plant; it contains food, betel nuts, flowers, candles, and coins.
  9. Tom Yum Thai Soup Soup It Up: Thailand is known for its spicy, flavorful food and tom yum soup is one of the country’s best-known dishes. This clear, hot-and-sour soup combines herbs, spices, and seafood to great effect.
  10. Wat Bang Phra, Yantra Tattoos, Thailand Get Inked: Experience tattooing like no place else at Wat Bang Phra. The monks here create delicate sak yant (also known as yantra tattoos) following age-old methods, and bless them afterwards.

Ten Quotes from Bill Hewlett and David Packard that Every Manager and Leader Must Read and Follow

Bill Hewlett and Dave Packard

On 23-Aug-1937, two electrical engineers who had recently graduated from Stanford University met to consider the idea of founding a new company. During the course of their studies at Stanford, they had developed a strong friendship and respect for each other. Bill Hewlett and David Packard put their ideas to paper, starting with a broad declaration about design and manufacture of products in the electrical engineering field. Initially, Hewlett and Packard any engineering product would be fair game to move the company forward, and expand beyond their Palo Alto garage. Therefore, they were unfocused and worked on a wide range of electronic products for industry and agriculture. Through hard work, perseverance, and forethought, Bill Hewlett and David Packard developed Hewlett Packard into an instrumentation and computing powerhouse before retiring and handing over management to a new crop of business leaders.

  1. “The greatest success goes to the person who is not afraid to fail in front of even the largest audience.”
  2. “Set out to build a company and make a contribution, not an empire, and a fortune.”
  3. 'The HP Way: How Bill Hewlett and I Built Our Company' by David Packard (ISBN 887307477) “The best possible company management is one that combines a sense of corporate greatness and destiny, with empathy for, and fidelity to, the average employee.”
  4. “The biggest competitive advantage is to do the right thing at the worst time.”
  5. “A company that focuses solely on profits ultimately betrays both itself and society.”
  6. “Corporate reorganizations should be made for cultural reasons more than financial ones.”
  7. 'Bill & Dave: How Hewlett and Packard Built the World's Greatest Company' by Michael S. Malone (ISBN 1591841526) “A frustrated employee is a greater threat than a merely unhappy one.”
  8. “The job of a manager is to support his or her staff, not vice versa and that begins by being among them.”
  9. “The best business decisions are the most humane decisions. And, all other talents being even, the greatest managers are also the most human managers.”
  10. “Investing in new product development and expanding the product catalog are the most difficult things to do in hard times, and among the most important.

'Beyond the Obvious: Killer Questions That Spark Game-Changing Innovation' by Phil McKinney (ISBN 1401324460) Source: “Beyond The Obvious: Killer Questions That Spark Game Changing Innovation” by Phil McKinney. Phil McKinney was an innovation manager at Hewlett Packard. Phil’s book has great questions for managing and leading businesses.

For Bill Hewlett and Dave Packard’s legendary management style and the history of Hewlett Packard, read ‘Bill & Dave: How Hewlett and Packard Built the World’s Greatest Company’ by Michael S. Malone and ‘The HP Way: How Bill Hewlett and I Built Our Company’ by David Packard.

The Golden Rule in the Great Cultures and the Great Religions

The Golden Rule Poster, Golden Rule in the Great Cultures and the Great Religions

The Golden Rule or the ethic of reciprocity is the definitive, all-encompassing principle for ethical behavior. In essence, this maxim states, “One should treat others as one would like others to treat oneself” in the positive form and “One should not treat others in ways that one would not like to be treated” in the negative form, the latter called the Silver Rule. The utility of the Golden Rule is primarily in developing a framework of personal ethics, in forming a psychological outlook toward others, and not necessarily in directing behavior.

We find the Golden Rule in all the great cultures and the great religions of the world:

  • Golden Rule in Baha’i Faith: “Lay not on any soul a load that you would not wish to be laid upon you, and desire not for anyone the things you would not desire for yourself.” [Source: Baha’u’llah, Gleanings]
  • Golden Rule in Buddhism: “Treat not others in ways that you yourself would find hurtful.” [Source: Udana-Varga 5.18]
  • Golden Rule in Christianity: “In everything, do to others as you would have them do to you; for this is the law and the prophets.” [Source: The Bible, Matthew 7:12]
  • Golden Rule in Confucianism: “One word which sums up the basis of all good conduct….loving-kindness. Do not do to others what you do not want done to yourself.” [Source: Confucius, Analects 15.23]
  • Golden Rule in Hinduism: “This is the sum of duty: do not do to others what would cause pain if done to you.” [Source: Mahabharata 5:1517]
  • Golden Rule in Hinduism: “Why does a man inflict upon other creatures those sufferings, which he has found by experience are sufferings to himself?” [Source: Tiruvalluvar, Tirukkural Verse 318]
  • Golden Rule in Islam: “Not one of you truly believes until you wish for others what you wish for yourself.” [Source: The Prophet Muhammad, Hadith]
  • Golden Rule in Jainism: “One should treat all creatures in the world as one would like to be treated.” [Source: Sutrakritanga 1.11.33]
  • Golden Rule in Judaism: “What is hateful to you, do not do to your neighbour. This is the whole Torah; all the rest is commentary. Go and learn it.” [Source: Hillel, Talmud, Shabbath 31a]
  • Golden Rule in Native Spirituality: “We are as much alive as we keep the earth alive.” [Source: Chief Dan George]
  • Golden Rule in Sikhism: “I am a stranger to no one; and no one is a stranger to me. Indeed, I am a friend to all.” [Source: Guru Granth Sahib, p.1299]
  • Golden Rule in Taoism: “Regard your neighbour’s gain as your own gain and your neighbour’s loss as your own loss.” [Source: Laozi, T’ai Shang Kan Ying P’ien, 213-218]
  • Golden Rule in Unitarianism: “We affirm and promote respect for the interdependent web of all existence of which we are a part.” [Source: Unitarian principle]
  • Golden Rule in Zoroastrianism: “Do not do unto others whatever is injurious to yourself.” [Source: Shayast-na-Shayast 13.29]

Notes: Poster compiled by Paul McKenna for “Guidelines for Golden Rule” Workshop, published by Scarboro Missions, Scarborough, Ontario, Canada

The Significance of the Golden Rule

Norman Rockwell Mosaic called Golden Rule at the United Nations

The Golden Rule describes a guide to a fundamental behavior and is taught in most major religious and moral traditions.

The Golden Rule has been articulated either positively as “do unto others as you would have them do unto you” (Matthew 7:12); or negatively, counseling that you not do to others what you would not wish them to do to you, as in the teachings of Confucius (“Do not do to others what you do not want done to yourself.”) or Hillel (“What is hateful to you, do not do to your neighbour”).

The Golden Rule’s all-inclusive simplicity has invited innumerable belittling counter-examples. For example, should masochists impose their favorite annoyances on unsuspicious acquaintances? Nonetheless, such counter-examples and critiques the point of the Golden Rule. The Golden Rule was never proposed as a guide to practical choice unaided of all other principles of moral conduct and behavior. In fact, the Golden Rule alludes to nothing about particular moral and ethical considerations, nor does it validate specific moral principles, qualities, and ideals.

To be more precise, the Golden Rule has to do with a perspective philosophy that is indispensable to the exercise of even the most rudimentary morality: one of seeking to situate oneself in the position of those affected by one’s actions, in an attempt to counteract the natural tendency to ignore moral considerations and ethical short-sightedness.

The Golden Rule directs one to treat others with the compassionate considerations that one wishes to contend with (in the positive form,) and, in particular, not to perpetrate misfortunes on others that one would abhor to have inflicted on oneself.

The Golden Rule has long been thought fundamental. Therefore many moral philosophers have compared it to their own principles concerning moral choice and conduct.

  • Immanuel Kant, German philosopher In “Foundations of the Metaphysics of Morals”, German philosopher Immanuel Kant dismissed the Golden Rule as inconsequential and too limited to be a universal law: “Let it not be thought that the trivial quod tibi non vis fieri, etc. [what you do not will to be done to you, etc.] can here serve as a standard or principle. For it is merely derived from our principle, although with several limitations. It cannot be a universal law, for it contains the ground neither of duties to oneself nor of duties of love toward others (for many a man would gladly consent that others should not benefit him, if only he might be excused from benefiting them). Nor, finally, does it contain the ground of strict duties toward others, for the criminal would on this ground be able to dispute with the judges who punish him; and so on.”
  • John Stuart Mill, English philosopher In “Utilitarianism”, English philosopher John Stuart Mill claimed that, “In the golden rule of Jesus of Nazareth we read the complete spirit of the ethics of utility. To do as you would be done by, and to love your neighbour as yourself, constitute the ideal perfection of utilitarian morality.”

Conducting Behavioral Assessments: Advantages

Conducting Behavioral Assessments

Behavioral assessments ask specific questions focused on target behaviors. Behavioral assessments are interested in samples of behavior and not behavior as a sign of internal processes. The responses collected from behavioral assessments can be interpreted as samples of a person behavior that are thought to generalize to other situations that the person might be subject to.

Overall, data and information resulting from behavioral assessments may have numerous advantages over data and information derived by traditional assessments or other methods of assessments. Data derived from behavioral assessments can be used:

  • to present behavioral baseline data with which other behavioral data (gathered after the passage of time, after a particular intervention, or after some other event) can be compared
  • to make available a record of the subject’s behavioral strengths and weaknesses across a assortment of situations, circumstances, and settings that the subject can be exposed to
  • to identify and pin down environmental circumstances that act to trigger, maintain, or extinguish certain behaviors in the subject
  • to identify and target precise behavioral patterns in a subject for modification through clinical or psychological interventions
  • to produce graphic displays that can be used to encourage inventive methods of treatment or more effective clinical or psychological therapy methods

The level of training and the experience of assessors influence the validity and reliability of behavioral assessments. Also affecting the soundness of the behavioral interviews is the ability to generalize the observations to other subjects, settings, and situations.