The Spending Tradeoff — Opportunity Costs vs Utility

Buffett s Folly I was fortunate enough to see Warren Buffett and Charlie Munger in person at the Berkshire meetings several times. Their wit and common-sense wisdom never ceased to amaze me. One of the many lessons I ve internalized from Buffett over the years is the reality of opportunity costs. Here s how Buffett thought about them ... Read more