Buffett explains Wall Street

the only place people ride in a Rolls-Royce to get advice from people who take the subway.

Warren Buffett, The snowball, p. 543.

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CEO Pay for failure

“A study released earlier this year by the Corporate Library — and titled “Pay for Failure” — singled out some of the corner suite’s worst offenders. Among them: Pfizer CEO Henry McKinnell; Merck former CEO Raymond Gilmartin; and AT&T’s Edward Whitacre.” (via DCSBN)

Some well-known managers weigh in on the issue:

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Warren Buffett — folksy style, brainy investing

Here is a good short introduction to the Oracle of Omaha. Folksy and brainy has earned him a tangible net worth of over $40 billion, most of which he has just given away to charity.

Buffett’s annual letters to shareholders are priceless.