 | Compounding Knowledge (The Warren Buffett advantage)
A lot of us are on the treadmill of consuming expiring information. Not Warren Buffett. He filled his mental filing cabinet with information that had a long half-life.
While most of us focus on consuming information that we won't care about next month, let alone next year, Buffett focused on knowledge and companies that change very, very slowly or not at all. And because the information he was learning changed slowly he could compound his knowledge over time. And as Schroeder notes, Buffett has been in business for a long time, giving him incredible opportunities to create a cumulative base of knowledge.
Expiring information is sexy but it's not knowledge. Here are a few telltale signs you're dealing with expiring information. First, it's marketed to you. Second, lacking details and nuance, it's easily digestible. This is why it's commonly telling you what happened, not why it happened or under what conditions it might happen again. Third, it won't be relevant in a month or a year.
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|  | A face to the jobs crisis in India
Meshram is a Dalit from the lower middle class in Kanhan, a small town near Nagpur. Fifth of six siblings. Four of his sisters are married; his father retired as a worker from the Western Coalfields Ltd. Unlike his father, Meshram has held many jobs over 10 years: supervisory, training-oriented and as a salesman. All short-lived. "You are fired every six-seven months," he said. From that income, he foots his bills and funds the post-graduation of his younger brother, who has also begun a job hunt.
Meshram is the face of an ever-burgeoning crowd of job seekers primarily from a lower caste and class background in India's underbelly. He has struggled to finish his basic education for want of money and grapples daily with a thousand anxieties and nagging depression. "I prefer a low-category government job for its promise of security," he said. He'd do any government job - a gangman in the railways, a constable in the security forces or a bank clerk - but says his chances are diminishing with his advancing age.
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