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Investing - Theory, News & General • Re: Ronald Read the Janitor who amassed 8 million

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While all of your quotes are suffused with truth, we face a contradiction. If Mr. Read was inoculated against acquisitiveness, against chasing after pleasures or possessions or prestige, then... why did he bother saving and investing? In other words, if the things of the world, were merely trappings of the world, then why at all bother with any material pursuit?
I cannot speak for Mr. Read, of course, but perhaps he found purpose in a life of altruism and the joy and fulfillment that comes along with it?
Maybe he aspired to be (and was) one of those rare individuals whose generosity makes the world a kinder, better place and is happier and more fulfilled for it?*
As Mr. Buffett stated in his giving pledge:
"What I can do, however, is to take a pile of Berkshire Hathaway stock certificates that when converted to cash can command far-ranging resources—and commit them to benefit others who, through the luck of the draw, have received the short straws in life. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others. That reality sets an obvious course for me and my family: Keep all we can conceivably need and distribute the rest to society, for its needs. My pledge starts us down that course."

“Be the reason someone smiles. Be the reason someone feels loved and believes in the goodness in people.” ~Roy T. Bennett

*Numerous studies have found a positive correlation between generosity and happiness. For example, a study published in the journal Science found that giving money to others can lead to greater happiness than spending it on oneself.

Statistics: Posted by AniccaBob — Mon Sep 02, 2024 8:35 am



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