Which Buffett Are You Listening To?

In recent years, I have been encouraged to listen to "that Buffett guy."  He has extensive knowledge of the world and an impressive track record.  As one approaches retirement, listening to people with a proven investing track record becomes increasingly important.   How you will live is a function of how well you obtain the right return on your investments and/or how well you absorb the philosophy Buffett offers.      

On one side, Buffett says "choose your heroes well."  The other Buffett says, "I've read dozens of books about heroes and crooks, and I've learned much from both of their styles."  

One says "Retire?  About five or ten years after I die."  The other, he says "Where it all ends, I can't fathom my friends, if I knew I might toss out my anchor."    

One says, "my ideas about food and diet were formed irrevocably early--the product of a wildly successful party that celebrated my fifth birthday.  On that occasion we had hot dogs, hamburgers, soft drinks, popcorn and ice cream."  The other says, "when I'm in port I get what I need.  Not just Havanas or bananas or daiquiris, but that American creation on which I feed...." 

Yes, it's Warren vs. Jimmy.  I am "buffeted" by the winds of change spilling across the tableau that is my life.  One is sensible, rich, unpretentious and highly successful in the world of investing.  He says "I don't want to sound like a religious fanatic or anything, but it (investing) really did get to me.  Prior to that I had been investing with my glands and not my head."  This in reference to investing in stocks.  He goes on to say "I'd be a bum on the street with a tin cup if the markets were always efficient."   

The other has accepted that "music is his life" and says, "now, I must confess, I could use the rest.  I can't run at this pace very long.  Yes, it's quite insane, I think it hurts my brain.  But it cleans me out and then I can go on."  

One Buffett takes me to where sensible thoughts and actions predominate.  One thinks about what one does in terms of dollars, for that is what will make life work.  He urges me to have a philosophy:  "Rule No. 1: Never lose money.  Rule No. 2, Never forget Rule No. 1."

I am a pragmatist.  That Buffett and his philosophy appeal to that side of me quite strongly.  On the other hand, I am learning see life as a moment-to-moment experience.  I see that music and love, friendship and peace are way too valuable to ignore.  I find the conclusion that "when you lose yourself, you just might find the key to paradise" makes perfect sense to me.  

This week I saw Jimmy in his final concert this time around in Jacksonville, Florida.  As usual, I was excited and thrilled, and moved to tears.  The event was a party for the human spirit.  People dressed in all sorts of ways to demonstrate kinship with Jimmy's message.  This time around, we were there hours before the concert, soaking up margaritas, people, sounds and sights.  It was a moving experience, not just a concert.  People of all ages were there, and it made me think about how I was spending each moment that I have.  Even in retirement as the world points out to me that I am getting older each day.  I don't care a fig for investment and track records in Wall Street.   Instead, I am concerned about living and dying, losing myself and growing older.  

Eight years ago, I went to a Buffett concert, and I enjoyed it.  Nothing changed for me as a consequence of that experience, I continued to try to live sensibly and focus on the future, at the expense of the present.  Retirement, after all, was approaching swiftly.  I needed to look at how I was investing and what the long term would mean to me (thanks, Warren).  In that context, I had to decide just exactly when I should retire and to fret about how much was enough.  

This time, with eight more years under my belt and in the throes of a new stage in my life, I felt like the experience was a mirror into how I was living.  It made me really think about what I listen to and absorb into my way of living each day.  

I decided in favor of Jimmy, no offense, Warren.  I know what I am trying to do, at least as long as I can hold this experience in my heart.  "I'm growing older, but not up.  My metabolic rate is pleasantly stuck.  So, let the winds of change blow over my head, I'd rather die when I'm living than live while I'm dead..."