Tweet of the Week

Twitter has a new ‘feature’ — a once-a-week email letting you know which of your tweets got most attention in the previous week.

Last week mine was:

So is Piketty the new Harry Potter? No: but he may be the next Fukuyama.

Now, that’s telling him

Just in time for the panto season comes this apparently-official report of the ‘trial’ of the North Korean Boy Emperor’s dastardly uncle.

It is an elementary obligation of a human being to repay trust with sense of obligation and benevolence with loyalty. However, despicable human scum Jang, who was worse than a dog, perpetrated thrice-cursed acts of treachery in betrayal of such profound trust and warmest paternal love shown by the party and the leader for him.

No shilly-shallying with extended trials, juries, evidence, cross-examination and all the other tedious appurtenances of Western ‘justice’. These folks don’t hang about. The whole thing took about four hours, after which Uncle Dang was shot like the, er, dog that he was supposed to be.

On this day…

… in 1903, Orville Wright made the first powered flight. Reflecting on this many years later, Warren Buffett, the world’s shrewdest investor, said:

I made the comment that if a capitalist had been present at Kittyhawk back in the early 1900s, he should have shot Orville Wright. He would have saved his progeny money.

But seriously, the airline business has been extraordinary. It has eaten up capital over the past century like almost no other business because people seem to keep coming back to it and putting fresh money in.

You’ve got huge fixed costs, you’ve got strong labor unions and you’ve got commodity pricing. That is not a great recipe for success.

I have an 800 number now that I call if I get the urge to buy an airline stock. I call at two in the morning and I say: “My name is Warren and I’m an aeroholic.” And then they talk me down.