Berkshire Hathaway recently concluded its first ever online annual shareholders meeting. And as usual in his inimitable style Warren Buffett dodged the question related to health aspects of Coke.
Many more questions remain unanswered especially because his followers have the tendency to accept everything that he says or endorses as the ultimate truth. Under these circumstances he could be a bit more careful about how he appears on the public platform. Usually he is; but not on this occasion, not on Coke.
If he is a quarter Coca-Cola, and feels good about consuming it and is happy after consuming it, should it be true for others to consume it and should they therefore consume it? Defies logic, right?
How about some octogenarian who smokes a lot and enjoys good health? It is a clear case of statistical outlier. Would he then have the right to say that he enjoys tobacco, it has not harmed him and therefore it is a great product? What if he says that he would have outlived his twin, if he had one, who did not consume tobacco? Ridiculous or outrageous? Yeah, Buffett is an outlier too, yet this one does not deal with it thoroughly.
How about some octogenarian who smokes a lot and enjoys good health? It is a clear case of statistical outlier. Would he then have the right to say that he enjoys tobacco, it has not harmed him and therefore it is a great product? What if he says that he would have outlived his twin, if he had one, who did not consume tobacco? Ridiculous or outrageous? Yeah, Buffett is an outlier too, yet this one does not deal with it thoroughly.
Then there is his partner Munger who simply announced that anyone who questions the negative side of a thing without noting its positive side is immature and stupid. Yet, he forgot to mention the so-called positive sides of the great Coke. Whatever happened to the multidisciplinary models that he is associated with.
As a final comment, I recollect someone and rephrase him, if two very wise men say a foolish thing, it is still a foolish thing. It is always the buyer beware: One has to own one's thinking. Borrowed conviction can be harmful no matter where it has come from.
As a final comment, I recollect someone and rephrase him, if two very wise men say a foolish thing, it is still a foolish thing. It is always the buyer beware: One has to own one's thinking. Borrowed conviction can be harmful no matter where it has come from.
It is a fact of life that nobody is perfect, however smart one can be. So let's pass their remarks on Coca-Cola as an outlier too.
I have no qualms in saying that both Buffett and Munger are the smartest men I have come across. They aren't aware that they have educated me in more ways than one. They have conducted themselves extremely well and have been highly ethical. In fact, Buffett has influenced me more than anybody in matters of life. I am ever thankful to him.
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