BILL AND MELINDA GATES: PHILANTHROPY WITH AN IMPACT
“The best investment any of us can ever make is in the lives of others.”
Bill and Melinda Gates wrote a message worth sharing with WealthTrack viewers in their annual Bill and Melinda Gates Foundation letter. It is the answer to a letter they received from Warren Buffett, their close personal friend and the largest outside donor to their foundation. In 2006 Buffett pledged Berkshire Hathaway stock then worth more than $30 billion to the foundation to be given in 5% annual increments. So far the donations have added up to $17.26 billion. The Gates define the impact.
Jim Grant is not only a financial thought leader, with his erudite, insightful and entertaining newsletter, Grant’s Interest Rate Observer, he is also a highly regarded and prolific financial historian who has penned several biographies, John Adams’ and Bernard Baruch’s among them. His latest subject, while less known, was one of the most influential financial and political journalists of the nineteenth century and still holds sway among economists because he authored the doctrine of central bank intervention.
International Value Advisers’ is holding nearly 40% of its portfolios in cash. Why are they taking such an extreme position in both their IVA Worldwide and IVA International Funds? Portfolio manager Charles de Vaulx says in his more than 30 year investment career he has never seen so much disruption in so many industries.