It’s Not Calisthenics – II September 20, 2023September 19, 2023 Monday I got to attend BROADWAY FOR BIDEN. We raised a bunch of money and had a great time. The President was terrific. Funny and powerful. My favorite story was about how he and Jill used to take their little boys, Beau and Hunter, up to New York twice a year and see a show. One time they took them to see Bette Midler. As many of you know, Ms. Midler is rated R. She apparently spotted the boys, pointed at them, and asked the audience, “What kind of parents would take their kids to a show like this?!” He also referred to himself at one point as being 800 years old, which I think is good. He should lean into it, because, yes, he and we all wish he were younger, but with that age come tremendous experience, judgement, and the respect of the world. I got to have a long lunch with Warren Buffett five years ago. He wasn’t doing jumping jacks; he was 88. But I wouldn’t have done badly owning Berkshire Hathaway these past five years. The President will pass the torch to a new generation in 2028. But in the meantime, the torch largely has been passed — to his 4,000 appointees, almost all of them one and two generations younger. That’s where the calisthenics are performed. In the meantime, he’s been delivering Berkshire-like results.