Agnostics From The United States

"I could end the deficit in five minutes. You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."

"Some material things make my life more enjoyable; many, however, would not. I like having an expensive private plane, but owning a half-dozen homes would be a burden. Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends. My wealth has come from a combination of living in America, some lucky genes, and compound interest. Both my children and I won what I call the ovarian lottery. (For starters, the odds against my 1930 birth taking place in the U.S. were at least 30 to 1. My being male and white also removed huge obstacles that a majority of Americans then faced.) My luck was accentuated by my living in a market system that sometimes produces distorted results, though overall it serves our country well. I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate's distribution of long straws is wildly capricious. The reaction of my family and me to our extraordinary good fortune is not guilt, but rather gratitude. Were we to use more than 1% of my claim checks on ourselves, neither our happiness nor our well-being would be enhanced. In contrast, that remaining 99% can have a huge effect on the health and welfare of others. That reality sets an obvious course for me and my family: Keep all we can conceivably need and distribute the rest to society, for its needs. My pledge starts us down that course."

"More than 99% of my wealth will go to philanthropy during my lifetime or at death. Measured by dollars, this commitment is large. In a comparative sense, though, many individuals give more to others every day. Millions of people who regularly contribute to churches, schools, and other organizations thereby relinquish the use of funds that would otherwise benefit their own families. The dollars these people drop into a collection plate or give to United Way mean forgone movies, dinners out, or other personal pleasures. In contrast, my family and I will give up nothing we need or want by fulfilling this 99% pledge. Moreover, this pledge does not leave me contributing the most precious asset, which is time. Many people, including — I'm proud to say — my three children, give extensively of their own time and talents to help others. Gifts of this kind often prove far more valuable than money."

"You want to be greedy when others are fearful. You want to be fearful when others are greedy. It's that simple. ... They're pretty fearful. In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now."

"People will always try to stop you doing the right thing if it is unconventional."

"You know, if I'm playing bridge and a naked woman walks by, I don't ever see her — don't test me on that! ... You know, I wouldn't mind going to jail if I had the right three cell mates, so we could play bridge all the time. ... It takes some investment to play it ... I mean, you cannot sit down and learn how to play it like most games. ... There's a lotta lessons in it ... you have to look at all the facts. You have to draw inferences from what you've seen, what you've heard. You have to discard improper theories about what the hand had as more evidence comes in sometimes. You have to be open to a possible change of course if you get new information. You have to work with a partner, particularly on defense."

"The 400 of us pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you're in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent."

"I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner. But I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the financial system to let me do what I love doing — and make a lot of money doing it. The least I can do is help pay for all that."

"The free market's the best mechanism ever devised to put resources to their most efficient and productive use. ... The government isn't particularly good at that. But the market isn't so good at making sure that the wealth that's produced is being distributed fairly or wisely. Some of that wealth has to be plowed back into education, so that the next generation has a fair chance, and to maintain our infrastructure, and provide some sort of safety net for those who lose out in a market economy. And it just makes sense that those of us who've benefited most from the market should pay a bigger share. ... When you get rid of the estate tax, you're basically handing over command of the country's resources to people who didn't earn it. It's like choosing the 2020 Olympic team by picking the children of all the winners at the 2000 Games."

"You couldn't advance in a finance department in this country unless you taught that the world was flat."

"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."

"It's class warfare. My class is winning, but they shouldn't be."

"A very low cost index fund where you don't put in all your money at one time ... If you accumulate a low cost index fund over 10 years ... with fairly regular sums, I think you will probably do better than 90% of the people around you that take up investing at a similar time."

"I wouldn't mind going to jail if I had three cellmates who played bridge. ... The approach and strategies [of bridge and stock investing] are very similar. In the stock market you do not base your decisions on what the market is doing, but on what you think is rational. With bridge, you need to adhere to a disciplined bidding system. While there is no one best system, there is one that works best for you. Once you choose a system, you need to stick with it."

"We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff."

"The best thing that happens to us is when a great company gets into temporary trouble... We want to buy them when they're on the operating table."

"If I was running $1 million today, or $10 million for that matter, I'd be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I've ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It's a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that."

"Success in investing doesn't correlate with I.Q. once you're above the level of 125. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing."

"We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely."

"Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid."

"Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway."

"If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety..."

"I don't have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It is like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GNP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don't do that though. I don't use very many of those claim checks. There's nothing material I want very much. And I'm going to give virtually all of those claim checks to charity when my wife and I die."

"It's a game of a million inferences. There are a lot of things to draw inferences from — cards played and not played. These inferences tell you something about the probabilities. It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. Bridge is about weighing gain/loss ratios. You're doing calculations all the time."

"I like thinking big. I always have. To me it's very simple: if you're going to be thinking anyway, you might as well think big."

"Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results."

"Someone's sitting in the shade today because someone planted a tree a long time ago."

"I'll tell you why I like the cigarette business. ... It costs a penny to make. Sell it for a dollar. It's addictive. And there's fantastic brand loyalty."

"Love is the greatest advantage a parent can give."

"Draw a circle around the businesses you understand and then eliminate those that fail to qualify on the basis of value, good management and limited exposure to hard times. ... Buy into a company because you want to own it, not because you want the stock to go up. ... People have been successful investors because they've stuck with successful companies. Sooner or later the market mirrors the business."

"You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be O.K."

"In my view, for most people, the best thing to do is to own the S&P 500 index fund. People will try and sell you other things because there’s more money in it for them if they do. And I’m not saying that that’s a conscious act on their part. Most good salespeople believe their own baloney."

"I call investing the greatest business in the world ... because you never have to swing. You stand at the plate, the pitcher throws you General Motors at 47! U.S. Steel at 39! and nobody calls a strike on you. There's no penalty except opportunity lost. All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it."

"Lewis was an Orientalist before Edward Said made that a term of abuse. Said was not a scholar of the Middle East, but a polemicist from the Middle East. He was also an intellectual impostor. Ever since Orientalism came out in 1978, proper historians have concluded that it would be a masterpiece, if only it were true. The only people who take Edward Said’s books seriously are, in no particular order of irrelevance, academic poseurs, chippy lefties, and the legions of chippy academic lefty poseurs churned out by the departments of Middle Eastern Studies."

"(MM: Is the writer "the one who belongs nowhere"?) NG: Edward Said wrote, in his wonderful autobiography Out of Place, that to be so in the world may be a way to better understanding between individuals and nations, an open state of being attained against the monolithic cages of nationalism, religion and closed cultures."

"As an Egyptian of Palestinian origin teaching English literature at an American university, who had built his scholarly career on a Polish sailor that became an English writer (Joseph Conrad), Said's assertion that western orientalists could not comprehend the East and easterners because they were born into a different culture, seems somewhat bizarre."

"Early on, I was informed by theorists such as Cixous, Said, Spivak, Gates and mostly postcolonial and feminist theorists."

"Culture can be used as a screen between the members of that culture and some of the horrid practices that occur, sometimes in the name of culture. Culture can become a way of disguising the reality, so that one can say "Well we're not just a people who flayed all these buggers and niggers out there, we're a people who produced Titian and we produced Michelangelo." And Arnold, I think, meant it that way. For him culture was a way of stemming the tide of rebellion. It was a way of pacifying, of mystifying."

"Whether they want to or not, the Arab people today face a wholesale attack on their future by an imperial power, America, that acts in concert with Israel to pacify, subdue, and finally reduce us to a bunch of warring fiefdoms whose first loyalty is not to their people but to the great superpower (and its local surrogate) itself. Not to understand that this is the conflict that will shape our area for decades to come is willingly to blind oneself. What is now needed is a breaking of the iron bands that tie Arab societies into sullen knots of disaffected people, insecure leaders, and alienated intellectuals. This is an unprecedented crisis. Unprecedented means are therefore required to confront it. The first step then is to realize the scope of the problem, and then go on to overcome what reduces us to helpless rage and marginalized reaction, a condition by no means to be accepted willingly. The alternative to such an unattractive condition promises a great deal more hope."

"Israel is now waging a war against civilians, pure and simple, although you will never hear it put that way in the United States. This is a racist war and, in its strategy and tactics, a colonial one as well. People are being killed and made to suffer disproportionately because they are not Jews. What an irony! Yet CNN never refers to “occupied” territories (always rather to “violence in Israel,” as if the main battlefields were the concert halls and cafés of Tel Aviv and not in fact the ghettos and besieged refugee camps of Palestine that have already been surrounded by no less than 150 illegal Israeli settlements). For the past ten years, the great fraud of Oslo was foisted on the world by the United States, with hardly an awareness that only 18 percent of the West Bank was given up, and 60 percent of Gaza. No one knows geography, and it’s better not to know, since the reality on the ground is so astonishing, considering the verbal hoopla and self-congratulation. And that pseudo-pundit—the insufferably conceited Thomas Friedman—still has the gall to say that “Arab TV” shows one-sided pictures, as if “Arab TV” should be showing things from Israel’s point of view the way CNN does, with “Mideast violence” the catchall word for the ethnic cleansing that Israel is wreaking on the Palestinians in their ghettos and camps. Has Friedman (or CNN, for that matter) ever tried to point out the difference between an attacking army fighting a colonial war on the territory of the people it has occupied for thirty-five years, and the people defending against that butchery? Of course not, for indeed why should Friedman ever bother to say honestly that there is no Palestinian occupation, there are no Palestinian F-16s, no Apache helicopters, no gunboats, no Merkava tanks, in short, no Palestinian occupation of Israel. So much for Friedman’s credentials as an honest commentator and reporter, who has utterly failed in unadorned terms both to explain the U.S. view and to understand the Arab and Palestinian cause. Can he not see that he and his writings are part of the problem, that in their maundering selfjustifications and their dishonesty, showing no sign of the self-criticism he keeps hectoringly expecting of others, he actually aggravates the ignorance and the misperceptions rather than reducing them? Poor journalist and educator, he."

"Whatever the case, the publication of “What Are American Values?” augurs a new and degraded era in the production of intellectual discourse. For when the intellectuals of the most powerful country in the history of the world align themselves so flagrantly with that power, pressing that power’s case instead of urging restraint, reflection, genuine communication, and understanding, we are back to the bad old days of the intellectual war against communism, which we now know brought far too many compromises, collaborations, and fabrications on the part of intellectuals and artists who should have played an altogether different role. Subsidized and underwritten by the government (the CIA especially, which went so far as to provide for the subvention of magazines like Encounter, underwrote scholarly research, travel, and concerts as well as artistic exhibitions), those militantly unreflective and uncritical intellectuals and artists in the 1950s and 1960s brought the whole notion of intellectual honesty and complicity a new and disastrous dimension. For along with that effort went also the domestic campaign to stifle debate, intimidate critics, and restrict thought. For many Americans, like myself, this is a shameful episode in our history, and we must be on our guard against and resist its return."

"Never has the media been so influential in determining the course of war as during the Al-Aqsa Intifada, which, as far as the Western media are concerned, has essentially become a battle over images and ideas. Israel has already poured hundreds of millions of dollars into what in Hebrew is called hasbara, or information for the outside world (hence, propaganda). This has included an entire range of efforts: lunches and free trips for influential journalists; seminars for Jewish university students who, over a week in a secluded country estate, can be primed to “defend” Israel on the campus; bombarding congressmen and women with invitations and visits; pamphlets and, most important, money for election campaigns; directing (or, as the case requires, harassing) photographers and writers of the current intifada into producing certain images and not others; lecture and concert tours by prominent Israelis; training commentators to make frequent references to the Holocaust and Israel’s predicament today; many advertisements in the newspapers attacking Arabs and praising Israel; and on and on. Because so many powerful people in the media and publishing business are strong supporters of Israel, the task is made vastly easier."

"As the Arab world spins into further incoherence and shame, it is up to every one of us to speak up against these terrible abuses of power. No one is safe unless every citizen protests what in effect is a reversion to medieval practices of autocracy. If we accuse Israel of what it has done to the Palestinians, we must be willing to apply exactly the same standards of behavior to our own countries. This norm is as true for the American as for the Arab and the Israeli intellectual, who must criticize human rights abuses from a universal point of view, not simply when they occur within the domain of an officially designated enemy. Our own cause is strengthened when we take positions that can be applied to all situations, without conditions such as saying “I disagree with his views, but” as a way of lessening the difficulty and the onus of speaking out. The truth is that, as Arabs, all we have left now is the power of speaking out, and unless we exercise that right, the slide into terminal degeneration cannot ever be stopped. The hour is very late . . ."

"I shall conclude with a concrete example of what I mean. Amid all the din about normalization, I have noticed one startling absence, namely, the current status of the Palestinian refugees living in every major Arab country, whose condition everywhere—there are no exceptions—is unacceptably miserable. Wherever there are Palestinians in the Arab world, there are rules and regulations forbidding them full status as residents, forbidding them work and travel, requiring them to register with the police on a monthly basis, and so on. It’s not only Israel that treats Palestinians badly, it is the Arab countries who do so also. Now see if there is a sustained campaign by Arab intellectuals against this invidious local treatment of the Palestinian refugees: you won’t see or hear one. What excuse is there for the horrible refugee camps in which so many of them live, even in places like Gaza and the West Bank; what right do local mokhabarat forces have to harass them and generally make their lives miserable? And why is there no protracted press campaign to end this appalling state of affairs? Why, because it is much easier (and less risky) to rail against normalization and Hebrew translations than it is to dramatize the unacceptable condition of Palestinian refugees in the Arab world, who are always being told that they cannot be “normalized” because it would implement Israel’s design. What rubbish!"

"Simply to make a temporary security agreement now is both futile and immoral. Besides, no such agreement can last, so long as Israeli settlements are still being constructed while Palestinians remain locked up in their collective prison. The only negotiations worth anything now must be about the terms of an Israeli withdrawal from all the territories occupied in 1967. Anything else is a waste of our time as a people."

"In a globalized world, in which politics and information are virtually equivalent, Palestinians can no longer afford to shirk a task that, alas, the leadership is simply incapable of comprehending. It must be done if the loss of life and property is to be stopped, and if liberation, not unending servitude to Israel, is the real goal. The irony is that truth and justice are on the Palestinian side, but until Palestinians themselves make that readily apparent—to the world in general, to themselves, to Israelis and Americans in particular—neither truth nor justice can prevail. For a people that has already endured a century’s injustice, surely a proper politics of information is quite possible. What is needed is a redirected and refocused will to victory over military occupation and ethnically and religiously based dispossession."

"The Israeli military causes immense damage to Palestinians day after day: more innocent people are killed, their land destroyed or confiscated, their houses bombed and demolished, their movements circumscribed or stopped entirely. Thousands of civilians cannot find work, go to school, or receive medical treatment as a result of these Israeli actions. Such arrogance and suicidal rage against the Palestinians will bring no results except more suffering and more hatred, which is why in the end Sharon has always failed and resorted to useless murder and pillage. For our own sakes, we must rise above Zionism’s bankruptcy and continue to articulate our own message of peace with justice. If the way seems difficult, it cannot be abandoned. When any of us is stopped, ten others can take his or her place. That is the genuine hallmark of our struggle, and neither censorship nor base complicity with it can prevent its success."

"Israeli Jews and Palestinian Arabs are locked in Sartre’s vision of hell, that of “other people.” There is no escape. Separation can’t work in so tiny a land, any more than apartheid did. Israeli military and economic power insulates Israelis from having to face reality. This is the meaning of Sharon’s election, an antediluvian war criminal summoned out of the mists of time to do what: put the Arabs in their place? Hopeless. Therefore it is up to us to provide the answer that power and paranoia cannot. It isn’t enough to speak generally of peace. One must provide the concrete grounds for it, and those can only come from moral vision, and neither from “pragmatism” nor “practicality.” If we are all to live—this is our imperative—we must capture the imagination not just of our people but of our oppressors. And we have to abide by humane democratic values. Is the current Palestinian leadership listening? Can it suggest anything better than this, given its abysmal record in a “peace process” that has led to the present horrors?"

"So long as they believe in the miracle of an Israel separated from its circumstances and environment—a bizarre notion that Sharon’s election campaign has encouraged—Israeli Jews resemble members of a cult rather than citizens of a modern secular state. And in some ways, it is true that Israel’s early history as a pioneering new state was that of a utopian cult, sustained by people much of whose energy was in shutting out their surroundings while they lived the fantasy of a heroic and pure enterprise. How damaging and how tragic this collective delusion has been is more evident with the passing of each day, and which the coming to power of so anachronistic and ill-suited a figure as the discredited Sharon brings to a garish, bizarre new light. How long will the awakening take, and how much more pain will have to be felt, before the opening of eyes is fully accomplished?"

"There are two contradictory realities on the ground on which Clinton’s Washington talks will founder. One is that the energies released by the intifada are not easily containable in any available form for the foreseeable future: Palestinian protest at what Oslo has wrought is a protest against all aspects of the status quo. The second reality is that whether we like it or not, historical Palestine is now a binational reality suffering the devastation of apartheid. That must end and an era of freedom for Arabs and Jews must soon begin. It falls to us to try now to provide the signposts for a new era. Otherwise it is easy to foresee years more of fruitless and costly struggle."