, feels it so i don t know if that s altogether true whether they take it on republicans that rich guys or companies have got more than that i don t know but i don t see that argument holding but well i like the earnings performance especially with what we ve seen in technology and if you are investing in the market its been great. apple announces $100 billion share buyback which a lot of people criticize and said see this is why we didn t want corporations to get the tax break but on the flip side if you re an apple shareholder you had a pretty good day that is the biggest buyback on record but to charlie s point the wage growth which in my terms was muted, right? 2.6% and if you look at most employment analysts they say for most americans to feel like there s a competitive job market meaning you can go across the street to the cop peteing shop and say i m worth 20% more and you need a number around 3.9%. neil: we might get there right?
even he can change his mind, skew technology altogether because he didn t understand it but he understands making money, right? liz: that s all he wants to understand, and that s why his stock went from just a couple of bucks, 50 years ago to more than $300,000 a share now, neil yes the apple news was certainly very big. i just got a good 25 minutes with warren buffett on a whole host of issues here on what is the largest shareholder meeting in the world, you can see behind me it looks a little empty because he just took the stage with charlie monger, his vice chair but what you have here on the exhibition floor in omaha, nebraska are the 61 or so businesses he owns because he wants to make money even during his shareholder meeting. let me quickly tell you, neil i got him on tax cuts and the corporate tax cut. he said as he stood right by the burlington northern display, yes he owns an entire railroad, that the tax cut for corporations has been a boom and certainly for most if not all
tech talk least relevant to my business and explore something i didn t think about. the thought might come from biology or health care in africa or whatever it is, try to see where it is coming from. the first thing. and second try to identify blogs or podcasts that are not in your mainstream and see what are they telling about the overall customer environment in which we are seeing. but the notion of not paying attention to the next is your important not how do i fulfill the next request from customers. and phil, your book is a best-seller. congratulations. thank you. another best-seller under your hat. you have grown your business quite a bit over many years. what tip do you have? the most important thing that i think about when we re building a business is to kind of copy the best investors in the world and that would be warren buffett and charlie monger and they are looking at specific things when they want to buy a business, so build your business that would match those
when it goes bad. i looked at myself and frank wells, warren buffett and charlie monger. i looked at ron howard and brian grazer. 30 years of movies. valentino, in fashion, a partnership. some bridge players, the founders of home depot. joe torre and don zimmer. i really looked at what it was that created partnerships that work and i m pretty aware of what it is that creates partnerships that don t. so, in brief, what is the difference between a working partnership and one unlikely to function? you need people that are able to share. you need people that are able to keep their ego in tact. you can t have envy against your partner. i was talking to warren buffett
and he was talking about the seven deadly sins. gluttony, it s okay. feel good, you feet, then feel fat. lust, problems. envy, you re sick from the moment you think about it until it s over, which it never is if you re that kind of partner. you have to be self-less when it comes to your partner. if you look at charlie monger, 50 years routing for warren. how would you apply all of this now, i m going to ask you to solve the world s problems. obvious division in our government. not rich versus poor, left versus right, tea party versus gop, extremism abounds. i want to read something, just bear with me. this is from michael s book, working together.