A true Master does not "give up" something. A true Master simply sets it aside, as he would do with anything for which he no longer has any use.
By setting up Berkshire Hathaway, Warren has done everything very rationally.
When it comes to investing, my suggestion is to first understand your strengths and weaknesses, and then devise a simple strategy so that you can sleep at night!
You have to have patience in this field.
If the market were way over priced, I wouldn't own any stocks.
Try to buy assets at a discount than to buy earnings.
We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.
I lived in Los Angeles in the '80s, which was not the best place to be.
There was violence because first of all, there were ethnic differences and names. If you were small, they called you a runt, and you had to do something about that even if there were five other guys.
Everyone has a right to change their consciousness, but ultimately the whole process is misleading.
There is nothing wrong with being well off as long as money has a social and ethical value and is not the object of one's own greed.