FM

[Barack Obama @BarackObama]

The killing of Alex Pretti is a heartbreaking tragedy. It should also be a wake-up call to every American, regardless of party, that many of our core values as a nation are increasingly under assault.

[Jerry Thornton @jerrythornton]

This is going to stick with me forever

[Jeff Park @dgt10011]

Buffet's few final thoughts in his final letter-

[Neil Irwin @Neil_Irwin]

Chart of the year:

[Jaynit @jaynitx]

Charlie Munger literally revealed the secret to winning the game of life:

[Michael Shermer @michaelshermer]

Wrong
Poverty is the natural state
Poverty is what happens when you do nothing
Wealth is generated by creating products & services people want
Here are the opening lines of my 2008 book The Mind of the Market:

Living along the Orinoco River that borders Brazil and Venezuela are the Yanomamö people, hunter-gatherers whose average annual income has been estimated at the equivalent of about $100 per person per year.

If you walked into a Yanomamö village and counted up the stone tools, baskets, arrow points, arrow shafts, bows, cotton yarn, cotton and vine hammocks, clay pots, assorted other tools, various medicinal remedies, pets, food products, articles of clothing, and the like, you would end up with a figure of around 300.

Before 10,000 years ago, this was the approximate material wealth of every village on the planet. If our species is about 100,000 years old, then 90 percent of our history was spent in this state of relative poverty.

Living along the Hudson River that borders New York and New Jersey are the Manhattan people, consumer-traders whose average annual income has been estimated at $40,000 per person per year.

If you walked into the Manhattan village and counted up all the different products available at retail stores and restaurants, factory outlets and superstores, you would end up with a figure of around 10 billion.

It has been estimated that the $100 per person annual income only rose to about $150 per person by 1000 BCE, and did not exceed $200 per person annum until after 1750 and the onset of the Industrial Revolution.

In other words, it took 97,000 years to go from $100 to $150 per person per year, then another 2,750 years to climb to $200 per person per year, and, finally, 250 years to ascend to today’s level of $6,600 per person per year for the entire world, and an order of magnitude higher still for the wealthiest people in the richest nations.

If we compressed that 100,000-year period into just one year, then the last 250-year period of relative prosperity would represent less than one day out of the year. Or, if we condensed the hundred millennia into one 24-hour day, our epoch of industrial production and market economies denotes a mere 3.6 minutes. In other words, the age in which we live and take for granted as normal and the way things have always been, in fact denotes a mere one-quarter of one percent of the history of humanity.

We are the lucky ones to live in such prosperity, thanks to Capitalism @OgbeniDemola

[Imade. @ImadeIyamu]

Ray Dalio’s reply on Reddit when asked what’s the most important decision you can make

[Garry Kasparov @Kasparov63]

"An NYC mayor who doesn’t believe in capitalism is like a Secretary of Health who doesn’t believe in vaccines. Sorry, bad example!" Socialism isn't Communism & Mamdani isn't Lenin, but the virus of forced equality has a long & tragic history. My op-ed: https://t.co/o54bITdrCG

[FM @FMSM82]

@phantom @monad_xyz @sofran

[Neil Stone @DrNeilStone]

According to Joe Rogan and his guests, this was a complete coincidence

Nothing to do with the vaccines

[Alec Stapp @AlecStapp]

50% of kids used to die before reaching the end of puberty

[Neil Stone @DrNeilStone]

Sometimes vaccine efficacy is subtle

Sometimes it isn't

[Kevin Carpenter @kejca]

Warren Buffett: "I think I stay healthy partly by being happy. It really helps if your stomach isn't grinding all the time [because] you're doing things you don't want to do or you're working with people [you don't like]."

"I'll usually sleep 8 hours a night."

[Kevin Carpenter @kejca]

Warren Buffett: "You can't make a good deal with a bad person. We just forget about it. We don't try to protect ourselves by contracts or due diligence — we just forget about it. We can do fine over time dealing with people who we like and admire and trust."

[Merryn Somerset Webb @MerrynSW]

Times today. "Labour's tax plans trigger exodus of millionaires." Net 10,800 gone in 2024. 78 of those centi millionaires (worth £100m plus). 12 billionaires. On gone every 45 mins...Reminder: it takes 39 people on £40k to replace just the income tax paid by one person on £500k.

[Trung Phan @TrungTPhan]

today is exactly 25 years since the greatest newspaper comic strip ever was published

[The Babylon Bee @TheBabylonBee]

‘Wow, What A Terrible Year!’ Say People Living At The Absolute Peak Of Human Civilization https://t.co/qHgPfLgmEl

[Evan @StockMKTNewz]

This is what the website of a TRILLION dollar company looks like in 2024

[Garry Kasparov @Kasparov63]

As I said the other day, Venezuela isn’t what happens when socialism fails, it’s what happens when socialism succeeds. Corruption, poverty, repression.

[John Lettieri @LettieriDC]

Brutal capitalism in action.