OPINION - Warren Buffett Shares His Thoughts on American Wealth

Warren Buffett, CEO and Chair, Berkshire Hathaway

I have good news. 

First, most American children are going to live far better than their parents did. 

Second, large gains in the living standards of Americans will continue for many generations to come.

In a recent Article in Times Magazine Warren Buffett provided an overview of wealth creation in America as well as his take on the future. It's a compelling read. 

Buffett does not agree with the pessimism of those who feel innovation and technology are leading us over a cliff. His numbers and reasoning seem sound. He and partner Charlie Munger are often headed upstream, but it's hard not to admit to the success they have produced.

What Warren and Charlie have perfected is an ability to be 'expert-generalists'. Orit Gadiesh, chairman of Bain & Co, who coined the term, describes the expert-generalist as:

"Someone who has the ability and curiosity to master and collect expertise in many different disciplines, industries, skills, capabilities, countries, and topics., etc. He or she can then, without necessarily even realizing it, but often by design: Draw on a palette of diverse knowledge to recognize patterns and connect the dots across multiple areas; and, Drill deep to focus and perfect the thinking."

It is hard not to imagine that an expert-generalist will have an advantage in the digital economy.