How to Stay Out of Debt: Warren Buffett - Financial Future of American Youth (1999) The Film Archives English Latin

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talking about your financial future out those figures become applet all of your

loquentes de vestris futuris financial ex his figuris factus applet omnium vestrum

uh... i'd like to start

Uh ... Libet initium

uh... by posing a problem for you

Uh ... iactatione vobis problema

and so i'm just gonna talk for a couple minutes until two q and a because pat

ita Im 'iustus minutes usque duobus copulabis amet loqui et eo q Pat

what we want to loose talk about what's on your wife but i'd like to think about

Quid quod volumus loqui de vobis dimittere uxorem libet cogitare

this for just a second

Secundum hoc enim iustum est

if as we walked out of here today

si nos hodie hic ambulavit de

i said i would like to buy

Ut dictum scelerisque

ten percent of your financial future

ten sentio vestra futurum financial

i was going to write you a check today

hodie adversus eram scribere

from the state forest

ex civitate saltus

you were going to give me ten percent of everything you her

ingressus es ad me ea omnia eget decem

uh... how much would you want your for that

Uh ... quanto enim vis

modify one-tenth of you

unam decimam ex vobis temperare

and uh... i may take a little bit incidently so

et uh ... ego modicum quid accipiat ita incidently

careful what you are

well i think it has a lot about that logic

ut opinor, multum etiam ratio

cop like that for a few let's see how you're going to check for me today

Paucos COP ut sit quam nunc es ad me reprehendo

in doing a lot with the money but

multum pecuniam sed cum in agendo

from the state for if you have to give me

nam si mihi a statu

ten percent of what you were not

quod non eras eget decem

i think it would be very foolish

stultum fore puto

if you ask for less than say fifty thousand dollars out of the few years

si quaeris, inquiunt minus annis quinquaginta milia pupa de

before you're out

earning money in so i've got a few years of that money there but then i would

lucraris tam paucis annis pecuniam non habeo: sed tunc

start getting his royal yacht

satus questus regia yacht

visual along so

ut per visibilem

i really think that

ego quidem arbitrer

if you thought about it

most of you would want

potissimum velles

for a lot more that i think you'd be right

Puto fore ut iudicium potius multum

uh... fortunately i didn't make this deal with anybody when i started out so

Uh ... Fortunate, non faciunt hoc fac cum quis sic profectus

i'm nobody's got a ten percent royally may but

Sum alicujus possedi ten sentio tantum regaliter

uh... i think that

fifty thousand what sort of the absolute minimum

quinquaginta millia qualis minimam absolutum

and if you think about that

Si vos reputo ut

that means the right today

significat quod ius hodie

you're worth five hundred thousand

tu precii quinque millia

because of ten percent is worth fifty thousand in cash today

quoniam in pecunia numerata quinquaginta millia decem percent valet hodie

is worth a minimum on a hundred percent faces

minimum est tanti centum cento super faciebus

a five hundred thousand dollars that is the big financial asset you've got it's

quingenta milia pupa a quod est magnum financial Asset youve 'got suus

way more important

what you do with that five hundred thousand dollar asset that you all today

ut quingenta milia pupa, quid faciatis cum omnibus vobis hodie ut Asset

whether you decide to buy stocks or bonds or whether you put your money in a

utrum volueris buy nervum aut vincula vestra an pecuniam

mutual fund or pick your own stocks or anything of that sort

aut sicubi fiscus mutuarum tua cippo vel aliquid huiusmodi idonei

the biggest financial asset

maxima Asset financial

that you have going for you by miles

quia vado, vos passuum

is the value of your own earning power over the years

at virtus tua per annos valet

so that's really what you should focus on you're focusing on your financial

ut suus 'vere quod focus tua oeconomicas es focusing

that means you should find focus on you

id invenias focus in vobis

because whether your ten percent is worth fifty thousand or a hundred

an quia vestrum est dignum decem percent aut centum quinquaginta millia

thousand three hundred thousand

milia trecenta millia

which would be a five hundred thousand millionaire three million for all of you

tria milia quingenta milia nummorum esset quod pro vobis

whether it turns out that be one of the other is really dependent

an qui fit penes unum sit alterius

i had a very large part on what you do in the next few years

Ego te, quae plurima pars intra paucos annos

all of you in this room

cum omnibus vobis in hoc locus

have the brains to do extremely well in life

Apprime in vita esse cerebro ad facere

you've all got the energy to do extremely well in life

youve 'got omnes industria ad facere bene in vita apprime

and the question is how do you apply it

et est quaestio, quomodo referre

if you've got a two hundred horsepower motor

Si youve 'got a motore ducenti horsepower

you get two hundred or spa robert

vos adepto an ducenti Robertus Spa

you get your full

vos adepto vestri plena

potential or do you get a hundred or spa our fifty horsepower

potentia vel operor vos adepto an centum quinquaginta horsepower nostrum Spa

now there's two things that happen

duae autem quae fiunt

force power out of here

cogit hie virtus de

your engine whatever may be all of you have the contentions

quod sit omnibus vobis et vestris contentiones ipsum

at one of those the lack of education but that probably isn't going to happen

nisi forte in aliqua ex his minus futurum sit

to very many people trump

ut plurimi tubć

if you don't have a lack of education didn't it if you didn't have a chance to

si non habeat, non deesse, si non aliqua forte

get a decent education life

ut honestam vitam educationis

it would make any difference what that potential was because

quid faceret aliquam differentiam ut potentia, erat quia

you've ever unblock

youve 'umquam unblock

but the second most important thing

sed maxime secundo

and equally as important

et aeque momenti

is in terms of the habits that you develop in terms of what you do with

Quantum ad secundum est quod facies in lacus habitus

te

conducere populus

we look for three qualities

tria expectamus

we look for integrity

exspectamus integritatem

we look for intelligence

intelligentia expectamus

and we look for energy

Et expecto industria

but they don't have the first one integrity the other two will kill you

Non simpliciter autem duo prima interficiet te

because if you're hiring somebody without integrity he really want to be

quia si quis sine integritate sis vere volo esse conducenda

done and lazy gotcha major

gotcha major fieri, et piger,

blasting the world you won't want to be smart energetic self

uredine mundus te non vis esse per se ipsum strenuus

smart energetic only goals

ipsum solum strenuus metas

cum integritatem

Dico autem bene

you make your own decision on that you can change

quod tibi in immutatur amet

your i_q_ or how far you control footballer how high you can jump

vel quantum vestri tempero i_q_ footballer quam vos can jump altus

of the color of your hair very easily

Facile capillos colore

to have integrity that matches anybody else has and if you match that

habere innocentiam aequet et si quis aliud habeat quod respondeat

with intelligence which you have

cum intelligentia, id quod habetis

and energy which you have

et industria, quam habetis

uh... you'll get an extraordinary resulting you'd be very foolish to

Uh ... youd 'adepto vos extraordinariam resultans esset valde stultum

somebody ten percent of yourself for fifty thousand on the other hand

decem milia quinquaginta ipsum quis eget vicissim

if you don't match it without your potential

si non sine tuis par est potentiale

in a significant part going use

in usum insignis pars euntem

and i'll give you a little

simple test apply in terms of thinking about the kinda habit she wanted about

simplex in terminos test applicare vellet de cogitatione pius habitus

if you don't have any haven't you want to get you can be

si uis habere non potes

it can be lazy who can be prompt you can be it can be

Quis potest semper esse praesentem tibi potest

late you can be honest you can cut corners of the uh... police forces

Nuper potest esse honesta tibi non interficiam angulos uh ... at copiis

and those resources for you to make

nobody else is going to make room for you

facturus est alius nemo capit

and i would suggest that you play this little game with me too

et suadere se mihi in ludo ludere hanc

think about the person you would most like to be in life

similis esse maxime cogitabo, quem in vita

submit is one of your contemporaries maybe somebody will orbit pick up the

maybe est aliquis pati ex aequalibus possis, orbis exciperent

person you admire the most person the you change places with if you could

persona in personam magis admireris cum loca mutare si posset,

and then write down what you martin

tum Martinus quid scribe

just put it on a piece of paper

modo in chartam

figure out the person that you would

Ut instar sicco quis

least like change places with who really turned you off

sicut mutatio saltem in locis, qui vere conversi abis

when you find repulsive

cum inveneritis repulsiva

and lists the reasons why

et subieci causas enumerat

that person turn you off so much

quod homo tam longe convertimini

to put those on the other side of the paper

quae autem ex altera parte tincidunt ut

and then look at that list

et vide quia album

and you'll find that everything on the left hand side with which in my and

et scies quia omne quod in sinistris partibus et

ceteris populis

the qualities they bring to life

sunt qualitates ad vitam perducat

generosity all kinds of things

genera rerum omnium largitate

the finals of things you can do it yourself it's very simple

tu potes finales, quae est simplex

got apply yourself but the habit shoe formed and doing early on a military

sed habitus faciens et formans te applicare got calceamenta mane militare

and on the other hand you'll find that

et invenies quod contra

the things that make people repulsive

quæ facere repulsiva

selfishness ob noxious use all these things egotism

OB adrogantiam usu noxia haec omnia SUI LACTANTIA

but no one has to have if you find those it yourself you can get rid of them as

si habere nemo potest exigi posset, ut ipse

well you get rid of them early so

bene vobis ita evomant diluculo

all i suggest is that you're right

moneo te, ut recte omnia

the right down the list of what

quod jus descendit album

what you find uh...

quid iuuenis uh ...

and decide that in other ones on the left

alii, ut in sinistra arbiter

add and admired side everyone's you're going to acquire for yourself as you do

adde lateri atque miranda cujusvis 'iens ut acquirat ipsum quod facis,

that when you're young and contrary to the rest of your life this doesn't work

Cum juvenibus et cetera vita non sit contra

if you do it when you're fifty or sixty

cum tu facis nisi quinquaginta sexagenis

by then they have a trip to well-formed

Tunc iter est per DECENS

uh... but if you do it early

Uh ... Quod si feceris diluculo

behavior becomes becomes a habit so

moribus ita fit fit habitus;

quod si feceris,

two or three years now to go to the same exercise

iam biennium aut triennium ad idem exercitium

you'll find out the person you admire the most as yourself

scies te, quem plerique laudant

i can be a little bags under some circumstances but it does

Possum autem quibusdam rebus augue sed paulo

uh... but it's not it's not a bad thing and that you want to be somebody like

Uh ... et non est malum, sed non sicut tu vis esse aliquis

and you don't want to be somebody picture that you dislike and and uh...

et quod non vis esse aliquis Donec et odio et Uh ...

formals habits early

formals habitus diluculo

uh... he basically can't mess i'll give you one other small piece of advice is

Uh ... ipse basically non tatam dabo tibi altera modica est consilium

just a corollary on this

iustus in hoc corollario,

and then we'll get to your questions in

Quaestiones et tunc adepto ut vestri

as a general matters are one piece of specific finance

ut commune rebus oeconomicis speciei unam peciam

uh... financial advice

Uh ... oeconomus consilio

in onboard credit cards just forget about me

onboard promeritum pecto me justus in obliuiscimini

uh... where in various businesses issue credit card the american public loves

Uh ... ubi in diversis negotiis publicis constitutionis promeritum pecto American amet

credit cards but if you start revolving debt on credit card you're going to be

Sin promeritum pecto vos satus volubilis debitum promeritum pecto vos erant 'iens futurus

uh... eighteen or twenty percent and

Uh ... et decem vel viginti sentio

progress and your financial life

interdum vitae profectum vestrum, et

who are on borrowing money eighteen or twenty percent

qui in decem aut viginti eget aliéno

you can make a lot of money by lending out earlier eighteen or twenty percent

pecuniam credere possis ex decem vel viginti sentio maturius

you can find a way that's good that uh... will borrow from you but

Bonum quod est iter est tibi Uh ... sed mutuabimur a vobis

you don't want to be on the side of the equation

nec erit in latere vult

that's always behind in life

quod semper post vitam

you know i was lucky i'd saved about ten thousand dollars by the time i got out

Sum felix Lorem sciatis salvus circiter decem milia pupa a quo exierunt

of school that ten thousand dollars was

schola decem milia pupa erat

really worth millions i might have run later on because after you get a family

Morbi pretium, postea vero propter vos: ut saltem cucurri

member vaguely expenses role in but

Sodalis vero partes in expensis vaguely

but those are my tools to work with but it was only because i was ahead of the

Haec ego non eo modo, verum etiam operari Vestibulum ante fuit

if you're behind a game by ten thousand dollars at some point in paying eighteen

si tu post decem milia pupa ludum aliquando octo reddere

or twenty percent interest on it

aut in ea re viginti sentio

you will never economically you'll never get out of it cell

ut nequaquam ultra non erit ex eo cella dispensative

their partner that says

dicit quod particeps eorum

i want to know is where i'm going to die so i'll never go there

Ego scire cupio, ubi illic nunquam mori

events true international matters as well you wanna figure out where you

internationalis eventus, verum etiam tu rebus wanna instar sicco qua vos

don't want to be

uh... at a time in a void that i get about a dozen letters a day

Uh ... ad tempus in vacuo de duodecim libros capere dies

from people who are having terrible problems

a populo terribili, qui habent problemata

and there are two reasons why they have terrible problems

et ibi sunt duo problems rationes cur terríbile

a number of them up had health problems of some sort them and they have really

ea magna aliquam erat numerus eorum qui vere salutem

been hit by some or somebody in their family has been hit by some kind of

percussus est aliquis, vel aliqui in aliqua familia hit

uh... illness and that is that

Uh ... et hoc est quod aegrotaret

you know it's a terrible thing to happen to any family

formidabilem scis quæ acciderit omni generi est

and they get in

there are bills they can't pay and and really only society consult that one

rogationum solvendo non sunt vere et solum consulere societati, ut unus

in terms of protecting people against that but that's just plain bad luck

secundum autem id quod est simpliciter contra populum Defendentibus infelicitas

the other one is from people run up credit card debt and uh...

alterum est de populo Accurrunt promeritum pecto debitum uh ...

they're facing bankruptcy evident from bankruptcy once before

constat ex adverso conturbauit regna quondam perditissimis

and they'll of what your money and they can they can pay the interest on loan

et quod erit vestri usuris creditae pecuniae non possunt

pani principled

pani principiatum

and a half of my letters come from people like that and that that

et dimidiam, et qui tales sunt ex litteris

that problem is avoidable

quod forsit est impedibilis

catastrophic illnesses not but

morbos autem non EXITIALIS

credit card debt has something to bring on yourself and

et adducent super te habentem aliquid debitum promeritum pecto

it's way better

it's way easier

suus 'facillimus via

to stay out of trouble

stare de angustia

than to get out of trouble financially and and uh...

quam impetro ex tribulatione et financially et uh ...

i will guarantee if you're in a big record that you will be in trouble

praestabo, si tu in testimonium vobis erit magna tribulatio

probably the rest of your life in terms of

reliquum vitae interdum amet

uh... your financial situation on the other hand if you get ahead of the game

Uh ... Si tua re Vestibulum ante ipsum vicissim

even as on a very modest scale

sicut in lance modestissimus

money is coming in from investing

Pecuniam venientem de circumsedere

mandira that you're a

people owe you money or equities oyu ownership

pecuniae an equities tibi debeo populo dominium oyu

and you'll be way ahead of the game compared to paying it uh...

At te reddere ad modum ante ipsum Uh ...

it's always been paying them

suus 'semper fuit pensionibus

your creditors every month

creditori tuo in omni mense

my advice to you this sir

consilium meum ad te Domine

if you can't pay for don't buy it

si pretium non emere non possit

it yourself in a position where you can pay for anything and uh...

ipse pro re atque loco ubi potest Uh ...

then we'll be glad to see abortion into the rest of furniture market

in reliquum deinde abortum gaudeant vasa dolor sit amet

now let's uh...

Nunc sit scriptor uh ...

let's have some questions

Sit scriptor habere percunctari

we have a mic out there that

C. de eo quod habemus

people can either go toward the travels around her

Aut poterit in itinere circa

and i can't necessarily situ well-fed

SATULLUS situ necesse non possum

i think that one might touch each size in just raise your hand waitress to come

Puto quod tangeret quisque attollere moles iustus in manibus vestris ad PEDISECA venit

we have some electronic like mine

habemus aliquid electronic mutuus

anything that's on your mind ask about them

in mentem eorum quidquam interrogare

gottlieb actual

Gottlieb actualis

how do you guys people who are innocent

quid vos guys qui sunt innocentes

and curriculum and to make a pen

et ad calamum curriculum

my keeping families into my non-standard

contingeret in familiis mea non-standard

furman that mean uh... performing arts center

furman significantia uh ... faciendo artes centrum,

how would you advise as to

quomodo te monere ut

out financially weakness in the world

de infirmitate financially in mundo

that our market system

quod nostra foro ratio

does not pay as well in some and spend some activities as

et commorabitur in stipendium opus non minus quam

might seem appropriate

conveniens videretur

for the importance of those activities the society

nam interest illorum actiones societati

just a teaching for example on the teaching does not pay well

sicut pro exemplo dogma de doctrina non bene solvere

what could be more important i mean you know you've got to be is

Quid autem habes quod res est velim scias

as interested in who you're too

qui scis nimium interest, ut in

the teachers of your children are schedule your account desert and on

doctores sunt filii vestri et orci in ratione vestra deserta

Uh ... quicquid

firms winning the heavyweight title of the world of that sort of thing but

firms conciliandos heavyweight title mundi istius modi rei, sed

it doesn't it doesn't pay well and and

non ea bene et non reddiderit

it's a fundamental choice

est electio fundamentalis

uh... what you're going to go into something it for many people could be of

Uh ... ingressus es ad aliquid quod sit de multis

the definable choice where they're going to go into something you love or

quidditatis electio, ubi erant 'iens ut iret in aliquid amas, vel

to try to make a lot of money i think that

ad multam pecuniam dare operam puto

generally it pays to go with what you love

quae plerumque ut diligatis reddit

uh... i think that

it's very hard to find people

Populus suus 'valde difficilis

when they get to be my age

Cum hoc aetatis esset ut

inquiunt mattis sollicitudin

that they've love what they've done all their life and feel was very worthwhile

quod Ive 'amo quod feceris omnia vivunt et sentiunt ipsum operaepretium

uh... but they're terribly sad they made that choice because they didn't make a

Uh ... sed grauiter nimium tristem, quia non fecit quod facere electionem

lot of money i idon't think anybody ever

quis ego puto multum pecuniam idon't ætérnum

ever said that to me that they wish they'd gone into something else for this

quod mihi in perpetuum cuperent abierunt in aliud per hoc quod

or uncomfortable doing under didn't enjoy it didn't feel very productive but

vel ANXIUS facientem non habuit, sub hoc non autem sentio valde fertilis

make a lot of money

planto multus of viaticus

so i don't i don't think you'll find

Non arbitror, ut non invenies

that's why would i would never go to work

Quare id faciam, non ad laborandum

i would go to work

vellem ire ad operari

and whatever terms your honor

et, quocumque modo quo honor tuus

it may turn out to will be more profitable than and you can thank but

utilius esse possit, et possit evadere sed gratia

almost everybody here will make

faciet hie fere omnes

unless they get some terrible habits along the way

nisi ut aliquid terribilis habitus via

to do reasonably well and in doing reasonably well in this country

racionabiliter facere bene et facere bene in hoc rationabiliter regionem

is uh... is pretty darn good i mean activities

est uh ... SUMMUS est pulchellus bonum, dico opera

it's not necessary to have

suus 'non necesse habeant

uh... huge amounts of money in order and your ears of i enjoyed myself when i

Uh ... ingentem pecuniae sum in auribus tuis et cum volo libenter

and my ten thousand dollars in

et mea in decem milia pupa

i live in the same house that i've lived in when i was making when i had about

vivo vixi, in eadem domo cum faceret circuitum cum

that i bought a forty one years ago

qui emi annos quadraginta unum

i'd like the house and i like the house now

Sicut domum ad domum et nunc libet

if you think about it

Si vos reputo super is

if you have a reasonable job

si habent rationabilem Iob

you'll be eating at mcdonalds and i'll be there top so we're word approach

youll manducans et McDonalds a summo ita adero sumus verbo adventu

uh... on on food i mean

Uh ... in cibo dico

help in fact i was very clear actually in baghdad

Ego erat actu in eo auxilium in clarissima Bagdad

uh... i think on the dairy queen you'll see me and you can order reading on the

Uh ... puto autem videbo vos me Reginam lacticiniis et iubere legere potes in

menu i can order will be we both can afford it

et possumus praestare possum lectus ordinis

you know you old he'll wear the same clothes i wear i'll pay more for my

scis vetus macto ego gerunt eadem vestimenta ego gerunt mea impendunt

suits but isn't good for money look cheap on me so well will talk about the

sed non est bonum pro pecunia lites respice in me tam vilem erit loqui de

will both live in the same houses i live in that house from forty one years ago

et ego in illo, et in domo una domus est quadraginta annos

it is it's it's warm in winter and a school in summer and it's comfortable

id quod est calidum in hieme et aestate ea commodo consequat

and you live in a house that's been somewhere in that

et quod in aliqua domo domini

whatever's is a negative you have fifty more rooms orbital guesthouses relented

quidquid est negativus habetis quinquaginta plus mansiunculas orbitae guesthouses placatusque

encourages brenda problems i mean you have to worry about that

hortatur Brenda quaestiones dico vobis ut fatigo quod

about the uh... greens keeper something when you get through side

de uh ... vireta custos aliquid cum tibi per circuitum

uh... i'd been in the house is the people

Uh ... Lorem populus in domum

uh... where the house is a work uh...

Uh ... ubi est opus domus Uh ...

all probably two hundred times

omnes probabiliter DUCENTIENS

uh... what my house is worth and i would not be any heparin dose houses at all if

Uh ... et quae domus mea est dignitas domo, non in pondere, si qua Heparin

i could i'd be less happy i just have one more thing didn't to worry about and

Lorem possim laetus ut esse minor res non habent unum et mitte

dozens of people around the place and

circa locum justo

people quitting in people stealing from him kinds of these

populus in populum decedens surriperet ei genera harum

we drive will drive the same kind of car thank you probably got a better car i'd

cogimus eiciam vos forsit gratias got idem genus car car meliorem malim

record about eight years old i don't know what it's worth now but

Nescio quid scriptum est de octo annorum pretium nunc

it took me around five and that i i'm pretty happy what will watch

Im 'pulchellus accepit me beatum apud quam ego vigilabo quinque

what what's the same television you know

quid nosti quod idem molestie

well will work on the same computer pretty much

Bene mos opus in idem computer quod pulchellus ultum

the only difference will be

differentia solum erunt

how we travel long distances

quomodo nos peregrinari diu spatia

fly a plane that

quae volare plana

more comfortable in

in plures comfortable

when flying southwest airlines or something at which etc

cum volare Africum arcu vel aliquid ad quod etc

i got nothing against babbitt that's the one real big difference and

ego nichil contra Babbitt ut 'quis et differentia realis magna

other than that i do what i like every day i hope you you'll know what you like

quae cotidie facio nisi ut spero tibi quid te

every day to do and uh...

et omni die ad Uh ...

i work with nice people i hope you work with nice people

Lorem ipsum dolor labore et laboro populus populus tincidunt

and that's this twenty four hours in the day and those are where the hours ago or

et haec et illa sunt viginti quatuor horae sunt diei si aut days ago

so

the tiniest bit different

minutissimi frenum diversis

uh... in a real stp sense than having just a decent

Uh ... in realis STP sensus quam iustam honestam

a decent income and uh...

et honestam mercedem uh ...

a decent income

honesteque reditus

and something you love doing in something where you feel worthwhile

et facere aliquid amas in aliquo ubi sentire operaepretium

huge well for you to trade off a lot of your principles

ingens bene tibi merces vestra multa principia off

i would be a terrible mistake

ego esset infelici errori

reviewing that acknowledges success more on yourself helping teachings of others

retractantes agnoscit prospere te magis iuvare aliis documentis

bene ego habebat

who was very lucky in life

qui fuit ipsa felix in vitam

uh... if you tell me who your heroes are are uh... i will

Uh ... quem si dixeritis mihi, quae tua sunt fortes Uh ... Dabo

make a pretty good prediction about how

satis facere quam praedictionem

what you're going to do and i i i i have the right heroes i was very lucky in

quid es acturus sum nimis virorum et felix in ius Amen

my heroes never let me down and starting with my dad

numquam me et coepi mihi Pater mi heroes

and then i had others in business and

et tunc habuit in aliis negotiis

magnis doctoribus

some formal teachers some that were just

quidam magistri formalis quidam sunt qui iustum

informal teachers teachers by instinct for example

tacitae instinctu magistrorum doctorum verbigratia

if i hadn't had those

si ea non fuerat,

you know mike my life insurer would have been very different if i'd been born any

scitis Mike vita mea insurer fuisset valde diversis si essem natus aliquam

place else when i was i was born in nineteen thirty

aliud ponere cum essem in undeviginti natus sum triginta

one out of fifty burst in the world one united states so i came and against

quinquaginta unus de erupit in mundum venit, et sic in uno Foederatarum

fifty to one odds against being born denied state

negatur uni committere adversum quinquaginta natus statu

i would have probably been a disaster you know if i been born in afghanistan

clades scire velim, si natus fuisset amet Afgania

or peru or some place and that i was

vel aliquo loco vel Peruvia et me

four-to-one i won the lottery today i was born you know by being born in this

quattuor-in unum vici sortitio scitis nascendo in hoc natus sum hodie:

country so all of you

Itaque regionis universitas vestra

uh... i mean you have you

Uh ... dico vobis habetis

the odds were probably fourteen to one against you being born in this country

in dissident quattuordecim probabiliter ad unum contra vos nasci hunc agrum

and uh... the roots

et uh ... Radices

five time are likely to been born in

quinque tempore nati sint in

insuring their six times as

providentia, sicut eorum sexiens

four five times more likely been born in

quatuor quinque temporibus magis in natum

and in india or some other place where would not have been is easy

India vel in aliis locis, ubi non erat facile

to exploit them

for potentially account so we will won the lottery in that respect them

potentia enim rem ita nos won sortitio ut in quantum eos

and that's just plain luck

et quod suus iustus campi felicis

i mean that uh...

dico quod uh ...

and i was lucky to be born at this time and the capital allocation

et tunc felix, caput nasci praestitit

it pays off extremely well in the society now

eam solverit Apprime in societate

but it doesn't pay off in other societies in that

non autem in aliis societatibus, quae redde

didn't pay off you know many years ago my but friend bill gates says that if i

multis annis te redde mihi non amicum sed ait, si Bill Gates

would have been born a few thousand years ago i have been some animals

ante paucos annos natus esset aliqua animalia fuerunt

i can't run very fast i can't climb trees and you know i just happen

ego possum currere ieiunium accidere non possit ascendere, tu scis arboribus

those are talented nobody asked me to climb trees now but uh...

illa interrogavit me nemo ingeniosi sunt ad scandere ligna, sed nunc ... uh

there was a time when i'm out of an important can

Magna est de me, cum possit

incidently bill would have been some animals breakfast and he can not so fast

incidently rogatio esset prandium quaedam animalia et potest non ieiunant

what we are lucky

quid sumus felicis

we just imagine being part of a hundred years ago exactly the same talents and

pars putat esse iustus talenta centum annos eodem

how far they were thinking of that

quatenus est cogitare

of the average person the bailiff so much better than that

tanto melior est homo mediocris ballivi

the richest person would

opulentissimam personam

uh... hundred or a hundred and fifty years ago cell

Uh ... cellam centum annos centum quinquaginta

morgan at respective lucky to be

Morgan at felix esse respectivum

one of terrific parents

unus ex parentibus terrificoque

i was lucky to be raise them online again i think in a great public school

Sum felix, ut puto, etiam elit magna schola publica tollere

system i gotta start here

Ego committitur hic ratio Redditus est nobis

in the first eight grades

in primis octo gradibus

they gave me a foundation

dederunt mihi fundamento

that later when i went off the track a few times

abiit itinere quo postea aliquoties

uh... carried me through because i had a terrific great school education

Uh ... per quod ferri me habui terrificum magna schola educationis

in at writer analog roselle and one of the reasons

in Roselle et Analog scriptoris ad unum de rationes

i havent incidently is kind of unfortunate but i had a great education

ego havent incidently est genus infelix ego autem magna educationis

Uh ... in parte

women were being

enormously discriminated against and sold at that time

Ingenti discriminatur, et vendebant in tempore illo

could be a teacher she could be a secretary she could be a nurse

magistri fieri potuit scriba nutrix posset

you know and i was about a actually and i have to tell what pull in the united

et tu scis ipsa et dixi quid viverra fere in Iunctus

limited to just a few jobs so you had to abundance of talent

limitatum ad jobs ut vos iustus pauci erant plurima ingenii

Uh ... in illis

activities like nursing her toward her teaching because

sicut operationes ad sua doctrina eius quia curatumque

Uh ... Talentum

with males was spread across

cum maribus sparsere

every act every formal worked activity there was no with women it was

omnis actus omnis formalis operatus actio non erat cum mulieribus fuit,

concentrated in a few areas and that

et in paucis regionibus collecta

uh... benefit the it's kind of sad because they've been benefit those

Uh ... prodesse scriptor quaedam tristis quia iam profuerunt

but i was very lucky

sed mihi valde felicis

have really been that way

vere fuit, ut sic

uh... all my life and

Uh ... omni vita mea et

Quod ego facio,

is what i do is important is that what it would be pure dusre governors does or

Multum interest, quid est hoc, quod est esse vel non purus duces dusre

something of sorts

and i i think it's quite questionable

et ii puto suus satis INCERTUS

it pays off enormously well in a market economy like the united states and uh...

Ingenti ipsa solverit tam in forum oeconomia sicut Iunctus Civitas et uh ...

but that's an accident

sed quod est accidens,

demanding to any innate ability of mine

postulans, ut aliquid de ingenio meo

underlining his marine it's an anti ten omaha central high school a place for

causalitati eius marinis suus anti decem omaha centralis princeps schola locus

one institution chemistry buffet technology has been agreed country and

institutione libero quis justo agitantibus conuenerit patriae

stimulating the world economy what are your predictions for the future of out

excitaretur e mundo eros in futurum praedixit, quae tua

of the technology industry and was white is a teacher role in world economy in

Lorem ipsum facta sunt, et in saecula partem in oeconomia est magister

the united states on download said there's no question strumming world

Iunctus Civitas in download dixit illic 'haud dubium strumming mundi

upside down it's it's it's tons done somewhat

concitant suus suus operatus est scriptor tons aliquanto

it will than i was just beginning

incipiens velit esse quam

but is moving very fast

sed est movens ieiunium

i met gates on july fifteenth nineteen ninety-one dot there for a fourth of

Quintadecima vero nonaginta et novem in portis occurri July unus apex ibi quartus

celebration with a friend

celebratione cum amico

who subsequently died meg greenfield of the washington post and she took us down

qui postea mortuus Meg Greenfield in Washington Post quæ tollens nos premunt

to those of the gates family

his portarum domus

he tried to educate me about

erudire conatus est de me

and he too had better luck with chimpanzees i mean i i was so there's

Dico secundo felicius sphingas cum et ipse suus fuit

really a disaster but

a calamitate, sed etiam realiter

but it's a good teacher

tamen suus 'bonus magister

but one thing he did told me was that

unum, quod mihi fecit

at the time he said

you know you've got this model in your head of the world

Scis hoc exemplum habes in capite mundi

et tui exemplar

time and distance

tempus et spatium

as very limiting factors and he said they are limiting factors anymore

ut ipsum limitandi factores et ait illi ultra limitandi factores

talking to somebody around the world or getting your message in front of

Donec massa ligula, vel aliquid loqui coram

somebody or publishing

nescio Publishing

is that it's going to be zero and parcel post a zero doesn't make any difference

quidnam est quod nullus suus ad rem pertinere, non iaculis nulla

in

in

you know that was revolutionary

scitis quod erat seditiosae

it's happening already in a in a very very big way and

In gravida ipsum fringilla iam modo fiat

it's just uh... what eight years later

Uh ... suus 'iustus quod post octo annos

and and it's it's it's exploding so

et quod suus suus suus ut exploding

information technology where we want to call it

quo tendimus, adipiscing vitae appellant

is changing the world

and it's going to change it and ah...

et ingressus est mutare et a ...

very very big way i would change and that's one of things i think about a

Donec et ipsum magna quis mutaret quae modo cogitare

businesses we buy

negotiis ememus

uh... we announce the purchase of the yesterday

Uh ... finitisque mandatis quibus heri annunciamus

uh... by uh... furniture retailer and and and and boston in the boston area

Uh ... Uh ... by et supellectilem ac ligula et Boston in area Boston

you know i think to myself what effect does this new world of in terms of the

ego puto te scire, quae res in hoc orbis ad modum

internet on furniture repairman we have to think about questions like that

in Internet supellectilem repairman habemus cogitare de quaestionibus sicut

that the changes will be huge i will be played bridge yesterday

quod mutationes erit Ero ingentis pontem heri lusit

uh... with people

Uh ... cum populi

uh... all over the country but i played it with people all of the world logistic

Uh ... Cras sed cum omni populo per agros logicis mundi

down on my computer and i've got some popcorn ironman khakis and a sweater and

descendit in meus computer quod Ive 'got nonnullus ironman khakis et popcorn et sweater

i

i can have a bridge game in thirty seconds with people all over the world

apud pontem possim ludum in orbem xxx secundis

in

in

uh... no cost to add basically

Uh ... non sumptus addere basically

now that's a lot different than trying to arrange a game before people a mama

quod iam suus multum aliter quam conatur ad ordinandum ipsum in conspectu populi a mama

hawk anton hugged a one one guy wants to play golf mother wants to watch baseball

Accipiter Anton fovit unum unus guy vult ludere golf mater vult ut custodirent baseball

it it just it changes things in huge way

id est iustus, mutat modum rebus ingentibus

we are very fortunate i mean it's

hoc est bene sumus

indeed agreed to which the united states leads to the world in this area mean we

quem quidem constat ad Civitatum Foederatarum ad mundi ducit in hoc area volumus

habent quidem plumbea

it's hard to think of who's in second place

qui in secundo de durum est

and fifteen or so years ago

ita et quindecim annos

this country had an inferiority complex would be hard for you to remember to

iuncta impari esset, haec patria est meminisse potes esse

shoot you weren't old enough to be around them but in the in the early

non immittet tibi maturus primis in circuitu

we were wondering whether the germans and japanese were going on everything

mirati fuimus utrum Germani Iaponica omnia geruntur

and if they were going to make all the steel when they were going to make all

Et ibant omnes, ut cum irent omnes ferrum

and everything else and the television sets

et omnia alia et occidit molestie

and we were gonna flip hamburgers that was the standard line

et eramus amet flip hamburgers, quod erat signum lineam

et

just imagine a short period like fifteen years i've been changed around

Iustus imaginari paulisper quasi quindecim annis fui circuitum mutata

in an important way that shane to because

maximus in via, quia Shane

a revolution uh... where we had

rotundum uh ... ubi habuimus

like i said i don't know who

nescio quis, ut dixi,

i don't know who you would name is being in second place in the world but here's

Nescio qui estis in nomine hic mundus secundus

the most important industry in the world

maxime in mundo industria

and the united states has this incredible position

et Civitatum Foederatarum habet locum hunc incredibilem

and removing all the time of that position so

Itaque locum et tempus sublata

argues for a very

Argumentatur plurimo

i think it argues for trivia future for the world over time and i think it

arbitror mundum arguit tempus futurum arbitror Triviae

argues even more for a terrific future with this company our country

Argumentatur etiam magis in posterum terribile hoc comitatu patria

one of the best place for you to get started now in securing their financial

optime de te in tincidunt mauris stabiliendae

uh... for forgot to secure their financial future

Uh ... quia oblitus adipiscerentur futurum financial

freely youthful

libere Iuvenilia

it's a very complicated uh...

Uh ... suus 'valde intricata

it goes back to

getting full use out of your own talents first

questus plenum usum primum ex proprio talenta

i mean there is a twin whether you're going to be earning extra two excerpts

dico gemina est sive 'iens ut exsisto plus duobus merendo excerptis

hie video reflecti

uh... twenty years from now

Uh ... nunc a viginti annis

is going to be a function

fore functionem

awhile well how much talent you have but i'll how well you use the talent you

sed tam diu, quanto ingenii habes ego Quam bene uti ingenio vobis

the your best financial future

ad optimum futurum financial

is your own ability

tuum est ingenium

uh... capacity to

Uh ... Facultas

to use those abilities to their potential

uti viribus suis lobortis

et

they can take that can be taken away from the kerry kerrigan taxes

Qui potest capere potest de tributis Kerrigan Kerry

you know most things

scitis pleraque

if you are not as a hobby serena stated that they double the taxes than double

si non sicut a se, ut dictum est hobby serena quam dupla duplum tributis

the taxes that changes

vectigal mutata

your ownership in the property because now

Nunc quia dominium tuum in proprietate

in effect the taxing authorities all the more about because they've

in omni autem effectu obiceres auctores plus de eo quod est illis operum

gotta greater command on the revenue stream

Redditus est major in imperio reditus profusum

uh... sending about

Uh ... de mittendis

uh... almost any assets you have uh...

Uh ... prope bona habetis uh ...

big they and they don't tax what's in your head

et non illi magnum tributum quid in caput tuum

and they don't act

here but what we did

hic autem quid fecit

start performing when u when you get to work in the morning and

u committitur exercendo cum vos adepto mane ad operari

finish in the evening uh... to to your potential one of things it amazes me

perficiat in vespere uh ... ut in potentia ad ea quae sunt de me exstasis

is how people who really do perform well just sort of jump out at you want a

ut qui vere quam bene agunt in ista vis prosiliunt

running a business when i got out of school

cum e re Suspendisse cursus

you know everybody

would behave that way but they don't most people

sed non ita maxime ageretur

go through life in the sleepwalking and

et transibit vita in sleepwalking

added if you don't

addidit si non feceris

you will stand out so

sic stabit de vobis

the big the biggest thing for your financial futures yourself now

maximus res pro tuis te nunc consequat cursus magna

beyond that it is always being ahead of the game rather than getting behind the

quod ultra quam semper ante questus post ipsum

game it's saving a little no matter how you do it i mean i delivered papers i

quamvis paulo ludus illud salvificum feceris dico ego erui papers

worked at pennies and sold well pulls out a pinball machine i did a lot of

et operatus denariorum vendidit bene trahit a me fecit pinball apparatus multus

that enabled me gmail in about ten thousand dollars by the time i got out

qui confortavit me Gmail in decem milia pupa a tempore evasere

ten thousand only goes for now the dead then but it

quia iam mortua sed tunc solum sequitur decem millia

having anything

so that your head of the game and not getting behind the game

post te caput unde ludi lectus non massa

is enormously important i mean just

Ingenti dico momenti est iustus

you know if you go to a hundred

si tu nosti centum

and regard dash against a bunch of people in life

De vita et in fasciculum INCURRO

uh... if you couldn't figure it out so that when the gun goes off your ten or

Uh ... Si non viderit te ut abeat per decem fistulae

fifteen yards ahead

Quindecim cubitis praecedite

instead of ten or fifteen yards behind is going to make an enormous difference

pro decem aut quindecim cubitis post facturus est differentia ingenti

in how the race comes out so

in genere quomodo venit sic de

having having some net

cum aliqua reti

the member service whether in stocks or bonds in my view let uh...

sodalis sive ministerium in nervo aut vincula mea sententia sit uh ...

uh... and not having debt

Uh ... et non habens debitum

when i've done goes off when you get out of school

abiit cum vos adepto ex schola feci

uh... is a huge crossover being behind the game and uh...

Uh ... Est ingens sit crossover post ludum ... uh

it may come from dolores paper out in the morning of may come from part-time

Dolores ut ex litteris vel ex parte temporis in mane

work someplace but

sed operari someplace

put aside a few dollars for yourself that uh...

pone te ut a pupa Uh ...

when the time comes in the other

cum tempus fuerit in illo

yet of the work force uh...

Uh ... opera et virtute

your head of the game and not behind and then once you get there don't get behind

post tergum tuum caput nec lectus et vade post non semel illuc

by buying a lot of things that

Qui multum redimeret

if you're going to pay for sunday you're paying twenty percent interest in

si tibi do viginti sentio te ad studium Lorem pretium

since bt please stay in maine and school let me ask you questions

BT cum Mansellos et placere manere in schola mihi te interroget

that they're missing him on the market on this but i think

ut in foro sibi desunt puto

my name is patrick burland from

meum est nomen Patricio de burland

i was wondering with the increasing

Cogitabam cum crescente

education today

hodie educationem

welcome students due to deal with it that's one survivor college

alumni debitum ad agam cum receperint illud collegium quod suus 'unus superfuerat

well i think that's a tough line and and and i decide that office passes i could

Bene quod suus me, et ego recta et difficile iudicare potui munere praeterit

and i would encourage you and others as possible and

quam et alios volo te confirmare

uh... before that time came out i would say this

Uh ... hoc dico non ex tempore antequam

in my experience

there's very little difference

ibi minimum differentiae

between a very high price business education

inter pretia maxima negotium educationis

and what's available a lot of for a lot less money so i i mean i a m

et quid praesto sit amet enim multum minus pecuniae intelliguntur ii iam

i went to the university abreast of lincoln

Et abii ad universitatis pariter Lincolniensis

i last year in college i went to work for a couple years before that uh...

Ego veni in collegium anno opus duobus annis ante Uh ...

i learned as much as university breast as i did at wharton at uh...

didici quantum universitatis sicut pectusculum feci Whartonus in Uh ...

it's nothing against warner measures that we had a very good school he writes

Nihil contra ea Warner mensuras quod habuimus ipsum bonum schola Scribit

and terrific professors that at lincoln

professores et terribile quod apud Lincolniam

so i i would not assume

sic ii non assumerent

that if i was paying a few thousand dollars for an education

quod si ego a paucis milia pupa reddens pro educatione

uh... here in the state for example

Uh ... hic status verbigratia

huge amounts of swear

ingens amounts of jurant

that it was going to make a lot of difference uh...

Multum interest, quod facturus Uh ...

uh... most of the a lot of the education

Uh ... maxime in doctrina multum

uh... unit you need to be prodded to the right direction an awful lot of it is is

Uh ... stimulabant ad hoc unum opus est rectum sit amet horrendum

the self-taught

me andrew carnegie a wonderful thing in this country in terms of libraries and

me Andreas Carnegie mira res in hanc regionem in terminos bibliothecis

are you spent a lot of time

sit amet tempus eu es

lovers and have locked in at the university will not want what was then

et non amantes velit at erat clausum

the university of mom on the head

Rutrum caput rerum

i couldn't get out for hours and uh... midnight i get so entranced with what i

Uh ... non posset, et ego horas media nocte possum ita cum quid entranced

was reading but

there's there's all kinds of information available now internet it's so much

suus 'totus illic genera notitia available iam suus' tantum Internet

you know issue that was then so

ut scias quod iam agitur

it's out there to be taken

Nulla est accipere

it isn't necessary to pay

non est necesse ad solvendam

thirty or thirty five oh three dollars a year ago to some

triginta quinque aut triginta, O tres pupa a anno ad aliquam

uh... big-name school

Uh ... magnum nomen schola-

to get the education at all

ut omnino educatio

if you're not alone accounting it yet which is about the most important of

quae tamen ratio non solum si tu maxima est

course you take in business

Nimirum vos capiat in negotio

going to tell you not accounting absolutely as well

dicturam non aesti tam absolute

and my view going to you i was going to

et mentem meam ad te irem

garber i mean i i see uh...

Garber dico ii vident uh ...

i would i would abed on that and uh...

vellem vellem, et Abdenago, qui in Uh ...

i wouldn't grow up

ingens rogationes

interviewing a business education out you know if you got to get a medical

conuento negotium adepto a medicinae educationis ex te scire si evaderet

i mean there's certain professions worded

dico ibi morabatur scriptor quaedam protestationes

not be any way around

nec ullo modo circa

spending a fair amount of money and getting in debt to some degree has been

pecuniam et bona massa purus dictum aliquam obligat

going to make that decision yourself but certainly try to minimize it

sed arbitrium, quod facturum te certo minimize is capto

uh... and i was sort of i would have figured out

Uh ... ego autem volo aliquod figuratum

campbell that debt

Campbell debitum

and say a five-year period after i got out of school where i would think twice

et dices ad quinquennium postea bis me putem e schola

about incurring

there's a question up here if we can bring a microphone

ibi agitur hic si possumus tortor ligula, facilisis

uh... managed hong kong come here every single minute advisory council

Uh ... Hongcongum hic curo singulis minutis concilium consultationis

uh... what advice would you have for a forming nonprofit organization

Uh ... Quid vis tibi pro consilio alit nonprofit organizationem

performing a non-profit organization

faciendo a non lucrum organizationem

always tried to avoid form a non-profit organization

Semper conati vitare formare non lucrum organizationem

well i i would bet would depend entirely what a lot wanted accomplish i mean

Bene II esset bet dependeret prorsus efficere voluit multum dico,

uh... you know it could be one there was a hospital and another thing

Uh ... scis aliud poterat, elit erat

Uh ... imperitant

visitors and are so many types of it so i

et hospites sunt tot genera ita sum

you know you've got to get people that are

ut nosti populum habes

better experienced in involved

melius experti involved

internet idea like that and uh...

Penitus idea sicut et uh ...

uh... but uh... the defense so much on that

Uh ... sed uh ... quod tam in defensione

on the objectivity

you're working at

down promises shown here

descendit hic ostendimus promittit

microphone for a long time

Etiam tortor ligula diu

i mean carhartt right-hand nine west high school

dico carhartt dextera novem occidentem alta schola

and engineer very speedy involved an airplane hampering inclined he think

et involvit festinatione ad Lamiam ipsum Vivamus impedivi inclinaverunt se putet

that is very individual and my headline

Vestibulum ut ipsum individuum et meam

you know i wouldn't say that i am not and i i do certain subject and i think i

Et scias quia nihil dixerim aliqua re videor II

europe your model as a citizen for example and all of the walrus god and he

Nam id civem vestrum et Europae a Deo, et walrus

is

far more so that were involved

multoque magis illud esse involutos

but i am and uh...

Ego autem sum et uh ...

incident his predecessor peter came it was too but warmers carried it to new

predecessoris sui, sed etiam esset Petrus venit incidunt warmers novam intulit

ita altitudines

uh... i don't want to

Uh ... Ego nolo

uh... on any mammal for that myself i do some things uh...

Uh ... aliquam mammal quia ipse ego faciam quaedam uh ...

one of the problems i have that love what i do so much that uh...

De quaestionibus quid ego facerem illam amare multum Uh ...

that'd be a sort of takes over and i'm like a

Lorem ipsum dolor sit praeter me qui quasi quaedam

uh... guy that likes to play a lot of offer some things that the liked i liked

Uh ... Qui amat ludere quae amet aliquam sem ut orci Placuit

the business i'm in

negotium sum in

uh... i've got a family

Uh ... Ive 'got a prosapia

district very actively uh...

ipsa regio active uh ...

uh... some my children were

Uh ... quidam fuerunt filii

almost anything that comes along in the civic area and

quicquid paene in urbana area, et venit Doram

and and people do what they want to meet the criteria great and and uh...

et populo, et fac quod vis ad obviam magna et criteria et uh ...

i've never talked to anybody that

Nunquam cuiquam esse locutum

that enjoyed working in civic activities that india with was very worthwhile

quod fruebatur faciens in civilibus actionibus India quod erat valde operaepretium

after they've done to build something and

postquam fecisti aliquid et ad ædificandum

participating in building something always

semper aliquid participans ædificanti

offline and acting head of the time we have a golf tournament for example

et caput offline agendi tempus habemus exemplum torneamentum golf

we raise some money for seventy beverage a good time to nobody's paying any price

Saeclum pecuniam septuaginta potum bonum alicujus temporis ulla commutatione solvendis

by doing i'm having a good time to people come running a good time

Lorem habens ex hoc tempore populi currentis tempus

and then we have to show almost two people

et sic fere duo ostendere

you should be enjoying things you go on and and you will want to work in civic

et tu eris tu frui vult operari quae in ciuili

activities that

quod operationes

but interesting that you do the same in politics unconnected

commodo sed, ut idem facerem in re publica seiunctam

you know if if you

Si scitis quoniam si

political ideas drupal apart

Curabitur politica absque ideis

or politicians who particularly

vel politici qui praesertim

you down if i would really didn't get a lot of self satisfaction out of

nec te quidem, si satis de se multum

i working continue doing something worthwhile so i

Ego faciens facit aliquid operaepretium sic perseverant

just just follow your instincts on that uh... they my recommendation

iusta mox sequatur instinctum in Uh ... ipsi meam commendationem

prime minister regret from the ritz out by school

Prime Minister de paenitet Ritz a schola

prided i guess the old beat youth of today and i question

Ego coniecto superbierunt senex pulsu usque hodie juventúte et interrogavero

what do you see is the problem the biggest economic problem facing

Quid autem vides est maximus forsit oeconomica quaestiones respiciebat

uh... visa today going into the future

Uh ... visa hodie ingredior futuro

i don't think give that uh...

Non vereor ne dare Uh ...

you're going to have enormous economic problems i think you will live in a

ut opinor, eu aliquet es habitare in immensum

where the average person

ubi mediocris persona

uh... lives better

Uh ... melius uiuit

by a significant margin

a signanter marg

than the average one of the generation earlier two generations earlier that's

quam mediocris de duo priora generatione generationum ante ut '

been the history of this country it's a marvelous country that way

Historia haec patria est patria, quod suus 'Miro modo,

when you really have four and a half percent of the world's population

Aenean eget quatuor cum dimidio mundi multitudo

you know and and

what's been accomplished years incredible fifty three percent of them

quid incredibile quinquaginta annos peractum tres cento eis

of the value of corporations that are publicly traded in the world exists in

valoris corporations quod publice negotiatus est in mundo, est in

the united states with four and a half percent of population

quattuor et dimidiam et eros eget hominum

this country always

hoc patria semper

has done well isn't uh...

Uh ... bene non fecit

and they say in stocks

et dicunt illi in nervo

that you've got should buy stock in the business is so good that even an idiot

Lorem ipsum dolor sit quod habes bona emerit vel in genere fatuus

because sooner or later one well and and

quia citius vel post aliquis bene et

that's not terrible advice lessons have been sort of his used in this country

Quod suus non genus suum: terribilis consilio documenta fuerunt in hac terra usus

from time to time i mean we've

Donec interdum id

we'd have all these problems that have come along if you look back on the ice

quod si fieret per tot difficultates, quae respicit ad venenatis

hundred years and was all the problems this country is going to do

cum centum esset annorum: et in hac terra facturum omnes difficultates

integrate a very long list in a lot of people who focused on those problems of

qui multum in multo numero integrare ipsas difficultates

have missed the bigger picture

perdidistis maior picture

and the bigger picture

et maior picture

is that every generation was better than the one before

prima ante omnis generatio est praestantius

and that's because of uh...

et ob id Uh ...

propter glácies

savings because they didn't enable people

quia non potuerit populus elit

to create new tools to do better things as they go on as also

cum novas ad meliora proficisci sed nulla

due to an environment

debitum ad environment

that lets people realize their potential to a greater degree than most other

ut intellegant it potentia magis quam ceteros

environments in the world it's far from perfect i mean it's it's it's adult

environments in mundo procul suus dico autem perfecti, quod est scriptor suus suus adult

partisan perfect

factionum perfectorum

but it is better than anything else

Sed nihil melius est

around i mean in in this country

ego autem dico in patria circa

uh... you've got

Uh ... inpertiendam

you don't have some commissar something running haiti

non habent aliquam commissar aliquid currit HAITIA

you know the of a big business in this country you've got a guy like jack welch

Scitis magnum negotium in hanc patriam habes asinum guy amo Welch

and and a fellow like jack welch makes

et sicut vnus homo et facit Jack Welch

a difference of might be

ut esset differentia

in terms of the productivity of that business over a period of decades and

secundum efficientiam, quae in negotio tempus et decades

productivity is whatever

quidquid est productivity

is what causes the standard of living to rise so anything that

Nihil est, quod tam oriri facit vivendum

a system that throws up the jack welch is of the world to run businesses

qui abicit disciplinam Jack usque Welch est mundi negotiis currerent

is going to have an enormous advantage over society that doesn't by heredity

gradiens ingenti profíciet habere societatem, quae non ex hereditario

or the does it by government edict

aut hoc facit ex imperio edictoque

we're closer to that society

nos propius ad illa societas

that i've described in than than anything than any other country and it's

Aenean id quam quibus in patriam nihil aliud est, quam

its lead do to great things and i will continue to lead the great thing so i

quod plumbum plumbo facit magna et magnum ego addam

i think you've got the best future

puto te parcere optimum futurum

uh... you know you don't face you don't face a war

Uh ... non adversum te bella sustinere non

and you've got a view that you've got a

propter quod habes, et habes

uh... you've got a better

Uh ... youve 'got a meliore

future in terms of

futurum secundum

achieving neutral rewards

praemia neutra impetrata

generation in history so

sic in historia generatiónem

which encourage places

quae robora locis

when i get taken upon it by field no

cum mihi per agrum non assumpsisset

behind wilkins for millard west high school

Wilkins ad occidentem alta schola retro Millard

i was wondering if you or if you could not speak for mister gates were afraid

Cogitabam aut si dominus meus loquitur portae non timere

of

de

the impact of white u_k_ on the economy were specifically the stock market bill

ictum in oeconomia album u_k_ fuerunt in specie stirpe foro cautionem

and and i'm glad you indigestion bring another day because i

et gaudeo propter vos et ego unum diem cruditatem afferunt

i'm the last night in the world understand that white too chaotic

Lorem alba tenebrarum mundus intelligat in nocte

you know i don't know why this microphones working i don't know you

Nescio quid scis an non opus hoc microphones

know why lights go on a

cur luminaria procedam

i flip on the switch of my television and pray i mean i say that's all

Ego flip super transitum meae television et orate dico omnibus dico ut '

it's all be i'm a bit

suus omnes Im 'aliquantulus

i would say that's the smartest people i know in that area

dico quod scio quia dolor sit cultissima

uh... in large part

Uh ... magna ex parte

think it's gonna be a non-event

reputo suus 'non sit amet ipsum

in this country i don't think against speak for the rest of the world but

Non arbitror in hac et reliquis in mundo loqui

uh... so i think uh...

Uh ... Ita puto uh ...

i think you'll wake up on

Puto puteus super expergiscere

first in fine the world doesn't change from december thirty first

primus denique mundus non mutat a triginta primus Decembris

now i would say that she might you might get a whole bunch of friends a right to

Nunc quis Ut ut dicerem amicis omnia recte racemum

checks for a billion dollars on december thirty first and deposit them in

compescit sescenti pupa a primo die Decembris triginta et repones

you know who knows what'll happen can't lose anything i mean like response and

vos qui scit quid futurumst, amittere non potest aliquid dico, quasi responsum et

it's a system that's fouled up you know you you might find a lot of money to

foedum est ratio et scis quia dolor sit amet pecunia invenias

your account but i wouldn't count on it there

Non propter vos ego non arbitror illum

where we have that we had without a college activity etc

quo habemus habuimus sine collegium actio etc

we have about fourteen or fifteen hundred

habemus circiter quatuordecim vel quindecim centum

uh... customers on pieces of airplanes with us and we so we've got a hundred

Uh ... ita et in nobis ipsis aëronavibus elit incidere centum habeo

we got a hundred and sixty their planes of some of our own flying around and be

Lorem sexaginta et fugiens circa nos ex planis illis

very interesting to me to see

Mihi valde interesting videre

people on the cell at a time when their money use it would be a very insincere

tempore quo pecunia cellae populo fore uti fictus

january first st

twelve oh one boat dealer

O duodecim navi furente

it wouldn't bother me to fly middle east

Medius oriens volare non mihi molestus

on january first or do anything else on january first

Kalendis lanuariis, nihil aliud Kalendis lanuariis

ideally i hope you getting to bird watcher posters plane

Aequitas spero questus avis vigilem planum posters

and jeannie solace from clint bolick

et Jeannie solacia Clint bolick

house went and had a decidedly invested time and money and

et ingressus domum habuit facile tempus et pecuniam et circuivit

businesses that have good economics now what what a good economics will good

oeconomicam amet habentes bonam nunc quid quod bona voluntas boni parcus

economics or business that has

vel quod habeat negotium parcus

some kind of a mold around that

circa aliquam expresserit

makes its product or service search location or something

quaero muneris vel uber facit locus, vel aliquid

a little more time

undesirable into the customer than any other sort of comparable product

Lorem productum in malum quam quaevis alia comparabiles

you know the number one candy bar in the last thirty or forty years has been

tu nosti de ultimo iudicio tempor numerus quadraginta annos

people don't fool around with different candy bars

populum nolite inludere circuitum cum diversis seris Candy

they fool around with different

fatuus sunt circa diversas

length dresses therefore on the yellow kinds of things but they don't fool

Tandem igitur coquit fulva rerum genera, non autem fatuus

around with candy bars

circum claustra Candy

because they figured we're going to lay out fifty cents or whatever his input of

ponere quod 'iens rhoncus diam quinquaginta cents vel quidquid ex

their mouth and

et in ore eorum

they're not going to run for fifty cents a putting in your mouth looking at

Non enim curram accinctus es in ore tuo, et respiciens quinquaginta cents

herself of competence of twelve forty five cents and put something else i'm

ipsa prudentia duodecim quadraginta quinque cents et aliud Sum

you find that very stable

vos reperio ut stabilis

and we like businesses

et sumus sicut negotiis

we can figure out where they're going to be in ten or fifteen years

ubi nunc nobis instar decem annis futurae

i don't know where the information technology businesses are going to be in

Nescio qua facturus sit amet adipiscing elit

ten or fifteen years idler snickers bars are going to be in ten or fifteen years

decem aut quindecim annis otiosiorem snickers vectes futura sint decem aut quindecim annis

are going to be selling just about the spin on the way they do now

Sub idem fere laoreet adipiscing iri adhuc in via

i don't worry please gum is going to be in ten or fifteen years be is not to be

Proin sit amet eros non placet, non est esse in decem annis

a lot of innovation

consectetuer adipiscing

in in providentia

uh... the ended internet soccer cause people to put showing them a dominant

Uh ... Penitus Morbi causa finita est populus mittat ostendens eis dominans

makes me think so but i don't accept but uh...

sic arbitrantur, tum se mihi non accipio sed Uh ...

ob

OB

it's predictability

predictability scriptor

regarding the sustainability of a competitive advantage some something

de sustainability competitive commodum alicuius quippiam

special about proc

peculiarem de proc

so we look for those kind of products

sic nos expectamus, qui genus products

and then we look for people

et populum expectamus

but running the business that are honest

quae causa honesta sed cursus

it's easier to find people hospitable because the fine

suus 'facillimus ut reperio subtilis quia populus hospitalem

businesses that are

quae negotiis sunt

going just a wonderful for a long period of time

mox ingressus mira, multo tempore

there are a business and look like a rock star wonderful work

tamquam stella res sunt mirabiliter fortis

really about breyer over time

tempus vere de breyer

but that's what we're looking for m

sed quaeritis id quod M

nice thing about it or not to find very many

delicatus res de ea uel non permultos

we find one a year

invenitur unum annum

that's terrific

ut 'terrificoque

you don't need a hundred thousand great investment ideas do well

dignissim turpis eget sed non bene multa milia

you need a couple

vos postulo a iugo

is the most important thing witty brainpower

Plurrimi maximus res est lepidum brainpower

with winnie discipline

cum disciplina Winnie

you don't need a hundred and fifty i_q_ to do what i do

ut vos dont 'postulo facio centum quinquaginta i_q_

you know where you don't need a hundred and forty you know they are in thirty

non opus est, quo loco te scire centum quadraginta sunt triginta

five you may need a hundred and fifteen or something like that and

mille centum quinque, vel similia, et opus

and but she did he disciplined

sed et ipsa se corripit

you have to wait

vos have praestolor

until you see the fat pitch to swing up

donec videant picem et adipem usque ad fabrefacta

because investing is a noble called strike game you know up if i were

Scisco quia est nobilis ludum dicitur Percutiat te scire, si essem

baseball player

and i only like pitches

et modo sicut vocum

two inches above my navel

duorum digitorum meam super umbilicum

and all some guy could run out and he could pitch may you know three or four

Omnes Guido et quosdam posset excurrere non poterat, castrametabuntur scies tres vel quattuor

inches below that i get called on strikes because i've never find

digitis infra capere invocavit ferit quoniam ego numquam inveniret

you can get colorado strikes in baseball

vos can adepto adipiscing percutit in baseball

you have to swing it pitches that you you don't even necessarily like

habetis ad fabrefacta sonorum illud quod ex necessitate quidem non placet

degree after the county of san two strikes

post duos gradus comitatu San oppugnationum

units who had anything you can sit there and

qui omnia potes, et sedere illic possunt

the paper says general motors of sixty years as john electrical a hundred and

Dicit paper Motorum sexaginta annis et centum John electrica

fifty years as general dynamics of sixty three

quinquaginta annis imperator dynamica sexaginta trium

and if you'd like this prices you have to swing you can wait there

et si youd 'amo hoc fabrefacta ut prices habetis potes expectarique

day after day after day after day and there are no called strikes

dies postquam percussit dicuntur et non sunt dies

now when you swing when you decide to buy something

nunc cum fabrefacta ut vos emere aliquid decernere

than enough you swing in this is just right but he

quam satis est vobis adductius in hoc est iustum, sed

it's a marvelous came to the end because there are no called strikes and you can

quod mirandum non est ad finem, et non insonuerit dictum potes

simpliciter exspectant

for that one behind

nam quod quis post

for six months for a year

sex enim mensibus anni

two or three years

duobus aut tribus annis

when you really know what you're doing where you like the price

Vis scire, quid, ubi, cum tanti vales

we'd like the people running the business

nos libet res populi currentis:

and then you swing in the only need a few swings in your lifetime

et vos tantum postulo fabrefacta et in paucis avertit in vita tua

uh... so that's the way we got a pic businesses we try to stay with with

Uh ... ita ut 'via res pic Lorem conamur ut maneret apud

things we understand

quae intelligimus

and that there can be all kinds of wonderful investment opportunities out

et quod possunt esse omnia mirabilia de obsideri occasiones

but i don't understand i don't know what cocoa beach are going to do next year

Nescio, sed nescio quid post annum facturus Maecenas Cocos

you know maybe you know but i don't know either

nescio an tibi scire aut scire

i don't know what i don't know what uh... crude oil stocks sell for

nescio quid, quod nescio Uh ... rudis oleum nervum vende

i don't have to know

it's just have to know all of the things

Suus 'iustus: omnia scire

at the know what i know

ad quae ego, scire

pastor noel where the limits of maya understanding hard

ubi parochus Noel limites intellectus Maya dura

what my circle conferences

quid mea circuli Conferentiis

and finally able to evaluate five percent of the businesses in the world

et tandem ad aestimare quinque sentio de negotiis in mundo

no problem i just a within a five percent and try and find something

EGO iustus sentio et intra quinquennium non forsit reperio quispiam tendo

and that's most people get in trouble because

et quod plerique adepto est, quod in tribulatióne

in investments because they

quia in Collocationes

what we did a cheap and i look at the support of salsa

quod firmamentum non quam vilem et salsa aspiciunt

they hear about other people making money nothing upsets people so much of

de aliis audierint nihil impedit populum faciens pecunia tantum

their about their friends making money cabinet

lucratur de amicis suis scrinium

that's very destructive to discipline because i think i got smart guy next

ut suus 'valde perniciosum puto disciplinam quia dolor guy ascenderunt altero

door neighbor's just bought that new car with the money made trading stocks on

ostium amici emi quod novum currus cum pecunia nervum in negotiatione

the internet so i can die

Penitus ita moriar

well the answers you cannot work dot you will lose money for trade stocks

vos responded potest non operari bene tibi erit amittere pecuniam pro artis dot nervo

uh... it's it's hard to exercise at this point

Uh ... Ad hoc durum est, ad exercitationem

but anytime you buy something

sed quisquam vos emere aliquid,

you should be able to take out a

one patient a paper

unus aeger a paper

i say i'm buying travel more assists sixty-five i'm buying gallagher hundred

Dico autem mercatus sum peregrinatione magis adiuvat sexaginta quinque ego emere centum Gallagher

and you should write down the reasons

et rationes conscribat

to cancel out the sheet

ut deleret sheet

it's because somebody told me about a cocktail party last night that's not

quis est, quod mihi heri per partes, ut non cocktail

because because my broker told me about it that's not good enough

propterea quia quae de eo mihi non satis sectorem

it's a you've got to have a reason

Lorem ipsum habere rationem habes

for thinking that it makes an intelligent investor you do the same

Videtur quod facit sapiens viverra similiter facies

thing if you're buying a farm apartment house provide apartments are by this

quod si tibi fundus emere domum diaetam per hoc providere sunt conclavia

thousand dollars an acre because i think i can earn sixty dollars an acre on it

Puto quia potest mereretur mille pupa acram sexaginta pupa acram super eam

if quan sells such-and-such destroyed himself such-and-such should be able to

Si vendiderit talis quan-et-tales-quod-talis, ut possit sic destructa ipsum

tali tales-quod-

and you've figured out

et figuratum youve

it's the same reason you're buying

suus 'vestri' ratio eadem emendi

businesses and when you buy stocks you're buying a little piece of the

negociis et cum emere nervo tibi emere a parum piece of

and as part of the most important thing to remember and an interesting is that

et pars maxima res est meminisse Juvenal

when you're buying a stock your vital piece of the vote was sent

cum tibi emere a piece of vital genere vestro suffragio Missus

if you're buying it had an attractive price for the business for the whole

Aliquam nibh molestie pretium vel si fuit totum negotium

you donate money

Fusce dictum sagittis tibi pecuniam,

and if you aren't

Et si non estis,

over time you walk money

tempus ambuletis pecuniam

promote michael

promovere Michaelem

home reverend jackson jesse jackson charges were there

domi essent ibi reuerendo Jackson Isai Jackson

you seem to believe that the moral standards astute today's society will

hodie credere videris acutus moribus societas

eventually affect this business

tandem hunc movere negotii

how you feel this will affect us as youth growing up in nine states he said

quomodo sentiunt puer iste erit afficiunt nobis excrescendi in civitates novem dixit

the most important to stop

maxime prohibere

poetry institute

carmina instituti

vos contributuros

moral standards overtime i mean at that

moribus overtime dico illo

you know you could give you pick out huge weaknesses at any given time in

Ut tibi grandia scis fragilitate quovis tempore optare

before the country's behaving and and and and and you'd strike so i think it's

et coram se agebat et patriae et populo et youd 'ita feri puto

normally difficult to quantify

plerumque difficiles ad quantitare

Uh ... Ego puto

by and large we have made

per et magna sumus

progress in what i would call institutionalized moral standards

quid in moribus proficere vocaret institutae

in this country

i mean the the the uh...

scilicet in Uh ...

uh... bell in terms of slavery in terms of the uh... in terms of them in the

Uh ... Uh ... secundum formam servi campana in terminis eorum in

women women couldn't vote you know a century ago at uh...

mulieres in saeculo ago potest non suffragium nosti uh ...

half the country were second-class citizens in that respect in a very and

secundo-genere civium in media regione erant valde, et in respectu illius

much lesser rights in terms of inheritance and all kinds of things

et hereditario iure multo minora, secundum naturam;

reditus tributum

a hundred years ago so the idea of taxing people according that

centum annos ita in idea gentis, secundum quod obiceres

to how much the

they've benefitted from society in their income

sunt Lorem profecisse ex societate eorum reditus

uh... didn't exist so

Uh ... non fuit sic

i think in terms of institutionalized moral standards

ego puto secundum moribus institutae

the country has made

really quite significant progress uh...

Uh ... vere satis magnos progressus

and uh... in the last hundred years i think you know

et uh ... ego vos novisse credo iam ducentis annis in

there's a nor must distance to go i think we're going on the right direction

Vestibulum nec est non eant longius Credo nos rectum geritur

maybe by fits and starts

maybe a congruat incipitque

but i think we're going to write correction and i think

sed scribere ad correptionem esse puto sumus

you know that there is that there will be a

erit quod scias

it will be a significant costs everybody in this role as they live in a more

omnibus hic erit insignis aliqua in parte magis quam

moral society forty years from now than callosum although i think the odds are

moralis societatis quam quadraginta annos cum callosum puto dissident sunt

i think the country moves in that direction very difficult to do it

perdifficile puto illuc movebitur quidem patriae

all kinds of interested

omnium interest,

work against that but

facere contra id nisi

anne and i think the american people want to

Curabitur Anna volunt puto

and then is sought civil rights manitoba

et tum petitur iura civilia Manitoba

television to dramatize what was going on in

molestie ut, quid ageretur in dramatize

people don't want europe prefer not to think about it

velit nolit Europa non cogitat

it got through to the conscience of uh... the american people

Uh ... per conscientiam obtinuit American populi

uh... allot of progress has been made there and there's a lot left to be made

Uh ... et ibi est et non tribuunt innumerabilibus relictum sit amet

but they're it's better that i was

sed melius quod ego Lorem ipsum

and the pace may seem very slow to those people involved and i can understand

et involvit eos et tardioris videatur vestigia video

you know for woman's suffrage

scitis enim mulier suffragii

for decades and decades and decades

Nam decades et decades et decades

woman could be on a jury

mulier posset esse in iuratam

that i was reading the trial part sterile

quod legebamus iudicio parte sterilem

which took place in california of nineteen oh ten or eleven

O quam decem vel undecim xix ornare factum

uh... there were no women on the jury that one was in a lot of the behavior

Uh ... quod non esset in patriam, consectetuer mulieres mores

we're citizens in that sense

Cives sumus in illo sensu,

behavior of the country has my view

Vestibulum quam mi patriae

improved but it uh...

cursus sed, uh ...

and it'll continue to improve and i hope you all in this room do your part to

Nunc pergam: et in hoc emendare et pro parte tua

Adjuvabit adventu

matures from central high

maturat ab excelso centralis

wondering how us into stock market so high right now

quonam modo nos in stirpe foro tam alte nunc

would be smart for us to give

nobis dare dolor sit

to get involved now are to wait till

dum, quae nunc ad implicari

trickles down a little

yeah i can tell you whether or not to buy stocks dot generally

Yeah dicam an ad buy nervum dot generaliter

i think it's important that you save money

nisi pecuniam interest, ut puto

at on what they want to put the stock market out there dept

In ante velit, cursus ut, quod volunt, ex dept

i don't think is

terribly important i think if your interested stocks

dirissime momenti puto si vestra interest nervo

issued by a and you've got a couple you should buy if you i mean i i don't get

et edita a te habes copulabis volo emere si ii non impetro

any way of running about them

illos aliquo modo discurrens

better than x printing it when im papers with the same

Melior est cum im x printing eadem chartas

i can guarantee you if you lose money on paper lose real money it's a different

ego tibi praestare potest amittere pecuniam in charta si perdiderit suus realis pecuniam differentem

experience and uh...

experientia et uh ...

i am so i i i think they're think you'll learn more about yourself

Ego puto III putant discis youll discere magis de teipso

if you do it that way i bought my first arc

ita quod fodi mihi si primus arcus

when i was eleven i was actually a liberal some of the time and by about

Et cum undecim de tempore et de liberali erat,

three shares of city service preferred

tres urbanae servituti anteponenda communicat

thirty-eight panna

Duodequadragesimo panna

went down to twenty seven which something i still remember even has a

adhuc recorder me vigesimo septimo usque descendens a quo

uh... and then a lot of four and i sold at i'm a five bucks

Uh ... ergo multus et quattuor et vendidit sum quinque dollariis

on my free shares after commissions and then i went to two hundred and something

libera me et abii ad curationes post participat aliquid ducenta

so

you know i i i probably remember that a little better if i'd been doing it on

III Memento ut scias verisimile paulo melius si essem in faciendo eam

i thought we were on doing a lot of things between about age eleven and

Putabam nos de aetate undecim et inter agendum multum

nineteen in the stock market i did shortsighted all kinds of

Et fecit decem cursus velit in manu temptans omnia

technical analysis i've read every book i could get on the subject

Donec nibh turpis posset de hac re primo per omne sabbatum legitur

i didn't do that well i can do terrible but but i patted agree just while rob

terribilis autem non feci quod bene possum ego patted sed dum iusti conveniunt expoliandum

that meant by the age of nineteen when i read ben graham spoke of the universe

quod intelligitur per annos decem et novem, cum lego Ben Graham locutus universi

depressed him like that

depressus similis illi

i went and bought this book called intelligent buster just come out

Et abii, et emit libro dicitur intelligens Buster iustus egressus

and i had an enormous impact on me

et ingens labefactum in me

now if i had done

nunc si ita fecissem

in the previous eight years i've got all over the lot

superioribus annis in omnem partem habeo

i'm not so sure that that book where the sender background and i was by that time

Quia scio quod me non esset libri, et mittentis tempore neglegi

to read and read was book which changed my life and actually

et legite librum ad legendum esset in actu mutatus vita mea et

the incredible life

incredibilem uitam

uh... i wouldn't be a part of the if i had written a book

Uh ... si non essem librum scribat ipse pars

part of life is getting

pars vitae questus est,

when something does happen that's significant

cum aliquid contingit ut 'significant

you can call us

possis dicere nobis

the significance of it and know what to do with it

et scies quae facias ei significarent

i would say that first eight years before her out

De primo dico quod ante annos octo

it without produced nothing financially to speak of

nihil producitur absque financially loqui

produced a lot in terms of getting my mind preparer

protulit multus of questus secundum mentem praeparator

but what i really didn't read something that makes sense so i was ready to

Aenean sed quod sum non legitur quod ad sensum

and i actually went back in

et regressus est in actu,

when to call me the study under the under graham

cum ad me in studio, sub sub Graham

of reading that book of all kinds of things flowed out of itself

influebant legere librum de se omnia

i would encourage you if you're interested in the field

ego te hortor studiosos, si tibi in agro

to do a few things but so far but it was intelligence possible

sed quantum ad intellectum possibilem, sed paucis

i would try to stick with things

Volo experiri ad res inhaero

businesses i thought i understood

res intellecta non putavi

but still get out that sheet of paper

tamen adepto quod chartam

and i'd read i'm doing this because

Hoc legat et ego facio

and just trust my reasoning that i go back and review the year later on

et nunc revertar ut fidem meam recognoscere infra annum

and see whether what you thought would be true turned out to be true

an vero id quod accidit, et vera esse putarem

so i would always checked myself

unde non semper ipse compescuit

i believe in grading myself on everything of doctors have post-mortems

Credo in transientes me super omne doctores post mortems

and they they do it because they were on from post-mortems

et ex eo quod post mortems faciunt

uh... and business people don't like to do postmarked when im all i'm i can be

Uh ... negotium populus et non amo efficio postmarked cum omnibus im sum possum

on the board of the company

in tabula in turma

building plants are buying companies

Mauris turmas aedificium plantarum

and everyone two years later

et unusquisque post biennium

tour i check out how the decision turned out does it

Peregrinatione me reprehendo sicco quam in arbitrium vertit facit

they can be unpleasant

possunt esse ingratos

but you learn from post-mortems

sed discere post mortems

you don't wanna learn we burn from other people's mistakes in your own this

non volo discere ista, igne tuo ex alienis erroribus

pattern from a few of your own to and uh...

et ad tui exemplar paucis Uh ...

the time to do it is when you're young

Tempus est ut juvenibus

you can do maybe one more

maybe unum potes ultra

direct assault wonderware

expugnatione wonderware

maybe maybe two more p

maybe duo maybe magis P

well my name is pete wilson from craig improv

bene est nomen meum a Craig Cornelius Pete improv

toward extent do you feel that the government

quatenus erga sentis quod gubernatio

with uh... the current policies of welfare and social security is it

cum uh ... in current policies of welfare et securitati sociali est

financially competent and physically prepared

financially competenti corporaliter præparávit

i think i think that

the country as a whole is quite

omnem regionem satis

quite well prepared for the future of that doesn't mean that

bene praeparatum est futurum non est,

with about every policy they have but

sed circa omne consilium cum illis

eight we have an enormously rich society

octo dives societatem habemus inmenso

and want to reverse a site and they'll get richer

et volo ut converterent situ et adepto locupletius

uh... everyone isn't going to participate in that somewhat will

Uh ... Quisque discedatur, non sit quod participant aliqualiter velle

participate because of

propter participare

physical disabilities either because a mental disabilities other because of

vel quia corporis defectus mentalis aliaque ob impeditiones

shortcomings in the education they receive winner dr all kinds of reasons

defectus in educationis omnium rationum suscéperint victor dr

we have a prosperous in our society

societatem habemus in rebus

to be able to take care of

of those people

and we should take care of them

Cavendum vero eos et

and how we do what so that they feel most useful in life and how we do it so

ut quid et quemadmodum debeamus facere de vita et accusam et utilissima

that we continue to encourage people to be more productive themselves all that i

nos manere ad populum hortari ut feraciorem omnibus quae sibi

intelliguntur illi sunt

that easy questions but

sed quod facile quaestiones

but that shouldn't take our i'd off the wall of feeling we should do something

sed ego non de nostris procul muro satis faciendum aliquid replicat

about it that uh...

de eo quod uh ...

uh... opt-in i'd put my pose this problem sometimes the people i say let's

Uh ... Curabitur interdum in-tendunt meum pose is forsit populus amen dico sit scriptor

assume that it's twenty four hours before you're born

id est viginti et quattuor horarum, antequam natus sis

all of you can take the steps twenty four hours before it went

omnes autem vos can take ante pedes viginti quatuor horarum

and then she comes to you

Tum illa venit ad vos,

and the genie says

overdrew their again out there

overdrew eorum iterum effudit

will call you go

and the jenny says job

et Jenny dicit Iob

as you look pretty promising to make

promittendo ut belle videris

i think you've got kind of a sense of fair play in

Puto te parcere aequum generis, in sensu

ad bonam mentem

and so i'm gonna let you have an extraordinary opportunity

ita Im sit amet habetis extraordinariam opportunitatem

i'm going to let you designed the world into what you're going to be born in

Ego te, quae disposuerat in mundo nasci es

twenty four hours

viginti quattuor horarum

you pick out the political rules

eligite vobis politica praecepta

you pick up the economic rules

vos pick sursum oeconomica regit

you pick up the social rules you designed the world

vos exciperent amet vobis regulis socialibus mundi

and we're more than twenty four hours you're going to be one that i world

Curabitur et efficiamur unus plus quam viginti quatuor horarum es mundo

and that's the world standing just for your lifetime

et quod suus 'iustus stabat enim mundi vita tua

for your children's lifetime fairground shorts lifetime

ad subvectionem parvulorum vita fairground vita bracis

and you having or some of the genie jokes in the past would say

et vos habens de genie iocos vel in praeterito diceret

what's the catch

quid in captura

and jenny said well it's a very slight catch

et dixit asina exigua est bene capiens

soon went when you're born in twenty four hours you're going to emerge in

Quando natus es viginti quatuor horarum, mox es ad emergent

this world you designed

hoc mundo cogitavit

but what you don't know

sed quae nescis

is whether you're going to be born

utrum sis nasciturus est

masculi vel feminae

dives vel pauper,

brighter retarded

lucidius retardabitur

able-bodied or infirm

aut infirmum VALIDUS

in the united states or afghanistan

in Iunctus Civitas vel Afghanistan

is that you're going to reach into this

quod ad hanc es

barrel which now has six billion bowles was withheld representing one person

hydria, quam nunc habet sescenti sex bowles unus detentus repraesentans

every person in the world

omnis homo in mundo

and you're going to participate in what i call the ovarian lottery

particeps es et ovarian voco sortitio

you can take one bought a rubber never get another book that u

vos can adepto alius liber quod nusquam unum emerunt a Flexilis u

area one ball not even a merchant

uno areae pila ne negotiatori

now what kind of rules

nunc qualis regit

do you wanna have for that society

vos societatem habeatis wanna

not knowing which ball you're gonna get

nesciens quod tu amet adepto pila

Igitur nocte illa

but deal with the way

sed fac cum via

i think people should think about

Ego puto populus reputo

social policy and if you're born if you're lucky enough to be born this

socialis et si consilium tibi si natus sis felix satis ad hoc nascetur

country you've won the lottery already

youve regionem parta iam sortitio

we should have a system in my view

opinor ratio haberetur

that encourages the jack welch is in the bill gates is an all out to work

quod confirmat, est Jack Welch in Bill Gates est omnibus ad operari

far beyond the time when it has any economic significance to m we want

longe ultra id tempus, quo aliquid significando oeconomica m uolumus

people commanding those resources

iubens illos copiis populum

extremely able the commanding the mets house pets have a how the standard of

valde potens præcipiens mets domum cura habere quam vexillum

living moves forward

vivens movet et deinceps

so we should want

you know we should one tom osborne

scitis nos Tibi unum Tom Osborne

go to nebraska we should want we should want bill gates designing software and

Bill Gates vult nos velle ire debemus Texas cogitans software

we don't want a mix up those two hundred well i wouldn't want to go coaching in

quis velit non ea vis, non adipiscing in bene ducentis

the press kit uh... sold

torculari kit uh ... venundati

you what do you want people fill out a system that

quid vis tibi pópuli systema vulputate

gets people other potential m

gets populus alia potentia M

in the position where they can do the most good for society

in optimo loco ubi potest societatis

which also wanna system for the people get the wrong lol

quod etiam populus adepto male pro wanna ratio lol

timing somebody's going to get the ball

sincere quis 'iens ut globus

you know that says eighty i'd kill some is gonna get the ball

scitis quod dicit octoginta occidere uellem sit amet globus

that says this is easier that disease early in life to cripple zone

Hoc est quod dicit, quod facilius in morbos veteres vitam claudus zona

and we've got a rich in our society

Heu gravem, et in societate

that we can help we can take care of those people and i think that

ut possis existimare possumus, et curam eorum

if your question i think that this society will move more and more in that

si de Societate esse puto, quod magis movet

direction it has the capability of moving more and more in that direction

partem magis facultas in partem movetur

as our resources

uh... and our output increases and i think the

Uh ... et crescit output noster et credo

it has the will to do that in a general way although i can't say they've always

habet voluntatem faciendi quod potest dici, quod etsi in genere semper at

been taught to fits and starts so their is no shortage

et ideo non est inopia decet eu doctus

in the united states of resources

in Civitatibus Foederatis Americae opes

there's no shortage of output

illic 'non penuriam risus

you have to have a system

that encourages people

quod hortatur populum

to behaved to the limit of their

ultimum ad usus suos

abilities and puts them in the right place

eosque loco ingenium

but then you have to make sure that everybody gets taken care of two

sed tunc planto certus ut vos have ut omnes curam duo gets

now we can do one more and then we will break

et tunc magis nunc conteram possumus

put this all over the microphone woman here

hoc toto tortor ligula mulier hie

make the decision

hyman's bengal were going on solid

Hyman scriptor Bengalam pergere in solido

and i wanna know how you can to media of extra-large in other places

et volo scire potes multa in aliis locis mediis extra-

small question uh...

parva quaestio uh ...

well but obviously does

Sed certe bene facit

simply because it's

Idcirco quoniam suus '

is move so far technologically

est movere tantum technologically

is it's brought it together yahoo and i was over china two years ago when i was

est suus conportant illud Yahoo et super Sinis duo annos, cum essem

right after the time of the women's conference in

post colloquium in iure mulierum

and uh... in beijing

et uh ... in Beijing

and i was reading

of that conference a and of course it

quod utique et de colloquio

it had nothing to do and what was taking place but the internet was coming and

sed quid fieret, et ideo nihil penitus venturum

you know you couldn't

nosti non potuistis

the washington post to the new york times and i i get the washington post at

Lugduni praesidium in vestibulum felis in tempus, et vestibulum ipsum II

nine thirty year night

triginta et novem anni nocte

i never could get that

Ego nunquam posset esse

next day on untrue through physical delivery but i'd buy electronic delivery

Postero die per verum tamen Id 'partum corporeum electronic buy traditio

uh... denver bali earlier the most people in washington to repeat itself

Uh ... Denver Bali ante plerique in Washington ipsa repetere

ability to communicate

facultatem communicare

and the degree to which the world that have awareness of what's going on every

et quantum ad hoc mundo, quibus quid agatur per sensum

place in the world is just

you know it's been applied only

Integer consectetur tantum de te

and that will help that they wrote them a lot of things that come out of that

et scripsit ut auxilium de his que multum

there plus overtime but that they have been a b

sed plus ibi overtime fuerunt ab

the ability of information to be available to everyone

Lorem ipsum dolor sit facultas omnibus

worldwide almost instantly instantaneously its

vestigio suo paene omnem per orbem terrarum magnitudine,

it's it's it's to be huge advances and things like medicine for example justice

suus suus suus esse ingentia et quae progreditur quasi medicinam puta iustitia

it's it's it's a net plus it has a

suus suus suus rete plus habet

it has a big affected

Habet magnum affectata

the definition of media has now been expanded

definitione media iam dilatavit

anonymously i mean there were three television networks and

nullis dico tres et televisionem retiacula

in the nineteen and you know in the early nineteen sixties and that was that

et scitis quoniam in mane undeviginti in sixties et novem erat quod

there were three highways information traveled electronically

Profectique sunt tres exitus viarum indiciis electronice

if the three piece of information were i love lucy and i want something else and

Si tria diligunt Lucia amet elit et ego aliud me vis

something else those with the three choices of information or entertainment

aliud qui cum tres electiones: aut hospitii sit amet

first tens and tens of millions of people selling their looking at it too

et decanos primum decem millions de populo vendebant quoque aspiciens

now it's unlimited and that's only for three or so decades so

infinita, et quod iam suus 'tantum an ut ad tres decennia ita

it's just exploded and it'll continue to explore them

Suus 'iustus explosum et pergam ad explorare eos

net i think it's a plus

puto plus laqueo

and i think i it's one o'clock i want to thank you all up

et ego puto vis est, gratias omnes horam

i wish you well you're going to do a terrific now

Bene vos volo vos erant 'iens efficio nunc terrificos

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