Originally Posted by tonton
Oh, really? REALLY?
Yes, really really.
I'll tell you what... you show me where in the video he either refers to his secretary, receptionist, or anyone using a pronoun, or where it is identified which of the employees being profiled is his secretary or receptionist and not only will I leave these boards forever, but I'll send you a $25 iTunes gift certificate.
They do not label anyone in the piece. They do show clearly show the receptionist and her desk is set up in the appropriate manner for the job. If sexist implications revealed through language discredit someone then discredit yourself and Buffet because you refer to him and he refers to speaking for "cleaning ladies." So don't be a hypocrite and slap yourself around for a while for giving value to such a sexist source per your own reasoning.
As for leaving and the cash, feel free to stay and feel free to keep your cash, as bad as your understanding of finance is, you'll need it.
You're wrong about this. Just like you're wrong about the issue.
This is a funny statement.
Trumpy, do you have any experience in investment? If you did (and yes I know you do) and if you weren't lying, you would admit that you can't simply convert small amounts of stock equity into cash to pay your basic living expenses without incurring brokerage charges and capital gains taxes.
Actually in the internet age, it is ridiculously easy to do this. I bought my last laptop with money I made day trading while camping during the summer. I'd wake up, go wander up to the free wifi by 6:30 am, make my trades, cash out by 8:30-9:00 and go have breakfast and enjoy the day. When I had $2,000 worth of gains, I went and bought my new laptop.
In this day and age, as long as you don't need advice, you can self-serve and do whatever you want with stocks for a ridiculously low amount of money. My brokerage account is through my bank and my first 100 trades each year are free. As for incurring capital gains, that is precisely the point of the entire discussion. If your employer decided to pay you with a stock grant rather than in salary, you'd be charged 15% capital gains tax rather than the 33% rate it is clear most of the people in Buffet's office are paying by making between $172k-374k. Holy crap, it is almost like you are beginning to grasp the whole point here. Buffet doesn't pay himself a huge salary. He grants himself stock instead and that is how as a billionaire, he manages such a low stock rate by paying capital gains instead of income tax.
Again he is completely free to do this for his employees. This is always a choice of the company. There aren't any massive fees associated with stock sales in this day and age. Perhaps there was a generation ago but not in this day and age.
Plus there is the time and effort involved in carrying out the transaction. You're talking like I could take my $2500 monthly salary in stock options and dividends... lol... And then like I could take those dividends and pay my bills and my rent, by simply 'converting them to cash', just as though there are no differences between my financial options and those of Warren Buffett. Again, there is no other response except 'how naive' or 'how dishonest'!
You absolutely could do this. It is easy. Your tone and understanding on this are ridiculous and you sound like someone mocking another person for not understanding how they could do something as "complicated" as paying all their bills online. Your tone amounts to mockingly asking who would lick all the stamps. You sound like someone wondering where the cassette goes on their iPod.
You can take money from your brokerage account and transfer it to your checking account with the click of a mouse through a web browser. I'm not sure if anyone else wants to chime in on this but honestly, it is ridiculously easy. My brokerage account is listed right along side my various checking and savings accounts. You can not only do exactly what you mock, but have it done in an automated manner. You could say when X stock pays me Y dividend on the 5th of each month, I would like an automatic transfer of cash from my brokerage account to my checking account in the typical amount of that dividend to occur on the 8th of each month. You can also set up an automatic DRIP whereby the dividend automatically repurchases stock in the company paying the dividend thus growing your future dividend amount. It will do it to the cent. It will buy a fraction of a stock to match the dividend amount. These things aren't hard at all. You can automate deposits or withdraws to and from accounts with no problem.
And you do know how stock options work, right? You don't actually earn any money unless you hold them and your company's stock goes up. Have you ever had stock options, Nick? You can't just turn around and sell them.
I would really suggest you again, do some reading here. The vesting period, option period etc are all determined by the employer. They could easily choose to let the option be exercised immediately at the at a less than market price equal to salary. The reality is that companies pay the taxes on stock options and employees pay the taxes on income. Buffet knows this and understands this is why he takes his own money in one fashion while paying his employees in another. I've asked you to look into this but you refuse. You'd clearly rather play games. So enjoy your games. You've had it explained to you in an elementary manner and any third party reading the thread will clearly see this so I'm done with it for now. Enjoy whatever last word you care to have on the matter.