The "Ovarian Lottery" is a concept proposed by Warren Buffett to describe the randomness of birth. According to this concept, individuals do not have control over the circumstances they are born into, such as their family's wealth, their country of birth, or their innate abilities. Buffett used this term to argue against the automatic inheritance of wealth, believing that it perpetuates inequality and doesn't necessarily reward merit or hard work.

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The Snowball: Warren Buffett and the Business Life

When a group of economists came up with the Efficient Market Hypothesis, to explain how it was impossible for multi-billionaire investor Warren Buffet...

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If Buffett cared about his outer scorecard, he would have realized many losses. His belief that inheritance tax should be increased, ruffled many feathers. Calling it the "Ovarian Lottery," he didn't believe that children should automatically win their family's wealth. Not only did he alienate the business world with this campaign, but he divided his family, applying the same principle to his own children and siblings. He shunned his adopted granddaughter in a letter saying that he had "not legally or emotionally adopted" her as a grandchild.

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Warren Buffett's influence has significantly shaped corporate strategies and business models. His investment philosophy of value investing, which involves buying stocks that are undervalued and holding them for a long time, has been adopted by many companies and investors. Buffett's focus on the long-term sustainability of a business, rather than short-term profits, has also influenced many businesses to adopt similar strategies. Furthermore, his belief in ethical business practices and corporate social responsibility has led many companies to incorporate these values into their business models.

Warren Buffett faced significant backlash due to his belief that inheritance tax should be increased, a view that was not popular in the business world. This stance not only alienated him from many in his professional circle, but also caused divisions within his own family. Despite these challenges, Buffett remained steadfast in his beliefs. He even applied this principle to his own family, demonstrating his commitment to his views. It's not explicitly mentioned how he overcame these obstacles, but it can be inferred that his success and influence in the business world, along with his unwavering commitment to his beliefs, helped him navigate these challenges.

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