Warren Buffett Katharine Graham Letter

Source: Fortune

Category: Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “1975 Buffett Memo That Saved WaPo’s Pension”

  1. DeDude says:

    Excellent stuff pointing out the critical issues about pensions and how to fund them. No wonder that most companies have moved away from defined benefits to defined contribution systems. For those who absolutely want the certainty of a defined benefit it should be possible to design defined benefit product within a 401K plan. Let every monthly contribution purchase a small lifetime annuity from within the 401K plan. Then let every monthly payout from the annuity be pooled with the monthly contribution to purchase even more annuity. That way the risk of annuitizing in a bad year would be removed and people could see how their retirement income slowly builds up.

  2. RobertKerr says:

    Even back in 1975 Warren Buffett understood that the generous and underfunded public sector pension promises and COLAs were financial time bombs being laid by lazy politicians simply pandering for votes.