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  • The early 20th Century was probably the high tide of global white supremacy - I'm going to call it that because that's how people thought of it - and to be specific, Anglo-Saxon supremacy: The idea that white Anglo-Saxon Protestants were at the top of the world, representing the highest achievement possible for all of humanity, with Darwin's theories being used to prop up this belief.

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The early 20th Century was probably the high tide of global white supremacy - I'm going to call it that because that's how people thought of it - and to be specific, Anglo-Saxon supremacy: The idea that white Anglo-Saxon Protestants were at the top of the world, representing the highest achievement possible for all of humanity, with Darwin's theories being used to prop up this belief.

There are exceptional loyalties and there are old fashion ideas about how you get loyalties, and after all the auditorium is full of people who have co-owned shares with the managers for many decades, and in many cases they co-invested when everyone was young and obscure. Also when you come back to a place like that you are celebrating old loyalties, and of course the basic idea behind so much of Berkshire is the old fashioned idea that the best way to get loyalty is to deserve loyalty.

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