Dear Graduating Class of 2020

Although it may be the most difficult time to be a high school or college graduate EVER, those kids still expect some words of wisdom, as in past years.  Let's get to it.....

To the hard-luck graduates of 2020:

This must really suck.

It’s hard to imagine how it could be worse than ‘right now’ for a high school or college graduate, during the COVID-19 pandemic.  Not being able to make memories from that last month or so in school?  Not being able to enjoy all of the traditions and hijinks of those final days of classes?  Not being involved in all of the pomp and circumstance of graduation week?   Not being able to have all that attention from friends and relatives at graduation ceremonies and parties, nor collecting the graduation presents?

This must really suck bad.

And there’s no getting it back, either.  Oh sure, you might eventually have a ceremony of some sort.  And you’ll probably get those graduation gifts down the road.  But all of the fun – that’s just gone, and there’s nothing you can do about it.

This must really, really suck bad.

To make matters worse (especially if you’re a college graduate), you’re entering in to the worst job market of the past 90 years.  Frankly, unless you have mad skills at developing pharmaceuticals for treating or curing viruses, there isn’t much out there for you right now – unless your life’s goal is to work in an on-line shopping fulfillment warehouse, a fast food restaurant, or a slaughterhouse.

This s-u-u-u-u-u-u-u-u-u-u-c-k-s.

Can anything be salvaged from this incredible misfortune to make you feel better?  Sure, there are lots of things that might perk you up.  For example, since you’ll either be unemployed or taking online college classes or both, your parents are a lot more likely to let you save money by living with them rent free.  (Actually, I could only think of that one thing, and it has as many downsides as upsides.)

Let’s face it, Class of 2020 – you’ve drawn the short straw.  Civilization, with an assist from national governments, has failed you.  You only have one option:  Determination.

Put your mind to it, and you’re going to get through this, along with the knowledge that you can succeed even when starting from one of the lowest points in United States history.  That’s a great rallying point, assuming you don’t use it to start a second Civil War, and further assuming we still have a functioning society.

Years from now, you aren’t going to be that upset about the events that didn’t occur, but you might be upset that you didn’t use the events that did occur as a springboard for what might have been.

Berky Meeting Nuggets 2020 -- Pandemic Edition

For the first time since the COVID-19 pandemic got real in the U.S., an event I really wanted to attend was ruined.  It was the Berkshire Hathaway annual meeting in Omaha, which only offered online streaming of this year's meeting.

You can count on the fingers of one hand the number of times in the past 20+ years I haven't personally attended 'Woodstock for Capitalists.'  It's more festival than meeting, taking up an entire arena and adjoining convention center, although the centerpiece is always Warren Buffett and Charlie Munger sitting on a stark stage answering questions and making comments for about six hours.

I watched the entire stream, which this year consisted of Buffett and heir-apparent Greg Able talking on that same stage for almost five hours.  (How does the 89-year-old Buffett do this, or anyone for that matter, without taking a break?)  It wasn't the same, of course, but they tried.

The main thing missing was Vice-Chair Charlie Munger, who didn't participate at all this year.  The highlight of most Berky meetings is listening to Munger's acerbic wit as he answers questions, usually ones for which Buffett probably said the same thing in a more extended, eloquent way.

I don't really have any specific nuggets this year.  Every question, answer, and comment was pandemic-related in one way or another.  Buffett was optimistic on America's long-term future, having already survived a civil war and a years-long economic depression.  However, he didn't sound very optimistic about the next year.

He was probably just bummed that he couldn't have the usual fun annual shareholders meeting this year, and given his age, their aren't many left for him to lead.

And clearly, we both missed Charlie.