As we celebrate our nation’s independence, we should remember that one of the benefits of our American way of life is free enterprise. With hard work you can be your own boss and accomplish your dreams. Why aren’t more of us striving towards this goal?

90% of Americans are suffering through this recession and are finding it difficult to take care of their families. Why is that? Is it because there’s no recourse? Is it because there’s no possible means of support in these desperate times? Is it the government’s fault for not lending a helping hand? Could it be that for some reason the degree you chased and finally achieved isn’t stuffing your checking account to overflow?

Strange things have been known to happen during election years. As we enter a campaign cycle that is already unlike others we’ve seen, we can expect to see out–of–the–ordinary behavior by everyone from policymakers to Wall Street traders. In fact, we have already seen some change from past election years.

Take the primaries as an example. In 2004, nine states held their primaries prior to February 5. In 2008, at least 22 states held their primaries by that date. In fact, no fewer than 29 states moved their primaries to earlier dates in order to jockey for greater influence over choosing the next president. As we move through this year, it may be good advice to expect the unexpected.

Berkshire Hathaway shareholders meeting excerpts

Berkshire Hathaway recently held their annual shareholders meeting.  I’ve come across a transcript of the meeting compiled by Peter Boodell, author of the value investing source blog.  I wanted to impart some of this information shared at this meeting to the visitors of the CFG website. 

Warren Buffett and Charles Munger fielded questions to over 24,000 company shareholders.  The best way to share the information is to show the question from the shareholder and then Buffet and Munger’s answer.  I’ve included 6 of the questions I believe will have the most universal value.

Question 1: Regarding the recession and the stock market being up in April.  What’s next?

Most people think of life insurance as a way to protect their families from an unexpected loss of income, as a way to help the survivors go on without serious disruptions in their standard of living.  It’s the reason why two out of three policyholders bought coverage.

One often-overlooked consequence of losing an income earner is the possibility that dependent children may not be able to afford a college education.