By Alec Hogg
I’m preparing for tomorrow’s monthly webinar on the Biznews Global Investment portfolio. There have been some fascinating developments in the past month – be sure to secure your seat by clicking here. The webinar is live from 12:30 SA time and is for Biznews Premium subscribers only.
The SA holding company of Biznews is called Aurelius Media, named after an anglicised version of Roman Emperor Marco Aurelio. He is my ultimate hero, a deeply rational man, gifted philosopher and courageous warrior. Aurelius died at 59, worn out after 19 years of rule most of was on military campaigns defending the empire, saving Western Civilisation for another generation.
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Although he lived nearly 2,000 years ago, Marcus lives on through a compilation of his 488 personal notes published as the freely available book Meditations. I became aware of it during one of the Berkshire Hathaway AGMs when vice chairman Charlie Munger referred warmly to the book, using it to illustrate “we can learn a lot from dead guys.”
Studying Meditations has been a source of great comfort and guidance for me over the years – and is a treasure awaiting those yet to discover it.
During his lifetime and after he had passed, Aurelius was deeply loved and revered for his wisdom, humility and selfless service. His major achievement was being able to retain those attributes despite almost unbelievably tough personal and professional challenges. Not surprisingly, he summed up life as “more like wrestling than dancing…demanding a firm and watchful stance against any onset.” His example is a reminder that mankind’s best leaders are those whose characters were forged in fire.
Marcus Aurelius came to mind when reading former US Vice President Joe Biden had admitted over the weekend that although he wanted the job, he didn’t regret a decision not to run for the 2017 Presidency. Even after data he was given showed “I had a better than even chance of being President.” Obama’s #2 stepped away because at the critical point his eldest son Beau was battling brain cancer. Beau finally succumbed in May 2015, another tragedy after a 1972 car crash killed Biden’s first wife and daughter.
Having watched Biden the past two years delivering keynotes in Davos, he struck me as playing in a different league to Trump and Clinton. But “Middle Class Joe” will be 78 when the next President takes office – a year older than Ronald Reagan was when he left the White House, the oldest in history.
So his advanced years would seem to rule him out. But then again, 80 is the new 60. And after another 45 months of the incumbent, the US electorate may ignore his age and turn to the most obvious anti-Trump person the country can offer.
Perhaps those in the ANC electing SA’s next President in December will take a similar approach by opting for the most anti-Zuma candidate in the country. Right now that would be a race between Bishop Thabo Makgoba and Anglogold chairman Sipho Pityana. Neither’s name has been raised nor have they put themselves forward as candidates. But who knows? Stranger things have happened in the past year.
