Buy this book at Amazon.com or try Amazon.co.uk in England, Amazon.ca in Canada, Amazon.de in Germany, Amazon.fr in France, Amazon.it in Italy, Amazon.es in Spain. ASIN=1556230982, Category: Investment, Language: E, cover: HC, pages: 759, year: 1988.
"At the source, peacetime Inflation is a political problem, not an economic problem.
Human behavior, not monetary behavior, is the key. And when
very human polticians choose between the next election and the next
generation, it's clear what usually happens."
-- quote Warren Buffet, in "How inflation swindles the Equity Investor," p495 (an article reprinted from Fortune, Vol. XCV, No. 5, May 1977, 250-267)
Apart of insights by other great investors, Classics contains several articles by Buffet. This chapter alone is worth the price for the whole book - if you can understand it what he's saying. Take this sentence as an example for his writing style:
This chapter details the short explanation in the book The Warren Buffett Way by Robert G. Hagstrom, why corporations can no longer be profitable if at average tax rate and with historically average earnings (12% on equity), the inflation rate goes above 7%, which by the way is the historical average inflation rate in the U.S..
Buffet explained why inflation is a tax, - in fact it is the most disastrous tax; see also "What Has Government Done to Our Money?" by Murray N. Rothbard
and for informational purposes only; they do not constitute
an endorsement or an approval by IBS of any of the products, services or opinions of the corporation or organization
or individual. IBS bears no responsibility for the accuracy, legality or content of the external site nor for any
Advertisements :: Music for the Inquiring Mind and the Passionate Heart: LEO RECORDS :: (Multilingual) Find a free host and make friends while travelling internationally: beWelcome.org (BW) :: (German only) Finden Sie einen Reisepartner - einfach, gratis und ohne Registrierung: reisepartner-gesucht.de :: (Multilingual) Get your encrypted mailbox for free: Tutanota.com