1.1. Question 28: What happened 1973 and 1974 when your investment firm lost over half?
Charlie: Oh, that’s very simple. That’s very easy. That’s a good lesson. That’s a good question. What happened is the value of my partnership where I was running, went down by 50% in one year. Now the market went down by 40% or something. It was a once in 30 year recession. I mean monopoly newspapers are selling at 3 or 4 times earnings. At the bottom tick, I was down from the peak, 50%. You’re right about that. That has happened to me 3 times in my Berkshire stock.
so I regard it as part of manhood. If you’re going to be in this game for the long pull, which is the way to do it, you better be able to handle a 50% decline without fussing too much about it. And so my lesson to all of you is conduct your life so that you can handle the 50% decline with aplomb and grace. Don’t try to avoid it. (applause) It will come. In fact I would say if it doesn’t come, you’re not being aggressive enough.
1.2.
“I regard it as a part of manhood. If you’re going to be in this game for the long haul which is the way to do it. You better be able to handle a 50% decline without fussing too much. Conduct your life so you can handle a 50% decline with aplomb and grace. Don’t try to avoid it. It will come. And if it doesn’t come I’d say your not being aggressive enough”.
@BlackScholesMan Weird, you can see in my ss that there's no graphic, it goes from the top of your post to the bottom ("reposts, likes, bookmarks") but now .. now it's loading with the graphic which, duh, answers the question.
I thought it was weird that the text was being marked "made with AI"
@Molson_Hart@ErikKaiser >allowing Pacific Palisades to burn down to the ground because of the decision to not keep sufficient water in the reservoirs
Why does everyone think this is true? Because Trump said it?
Destiny Tech100 ($DXYZ) made its largest investment in the history of the company in January 2026, adding economic exposure to Anthropic and reflecting our conviction in Anthropic as a generational company.
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@LogicalThesis I actually don't follow them very closely. Haven't heard that. Wouldn't they have to disclose? As of last filing on 5/12, a prospectus, they still listed Anthropic. No 8-Ks or anything since.
@LamedBet@KrisSchnee@MaritimeHorrors off the dome - what if it was more like a tracked vehicle? like a floating bulldozer.
displacement is the same but no water mass is influenced in the direction of travel via drag.