“It's easy to make a buck. It's a lot tougher to make a difference.” -Tom Brokaw
In 1998, Tom Brokaw introduced the world to the term, “The Greatest Generation.” Brokaw’s book, by the same name, is a tribute to the generation of Americans who came of age during the Great Depression and World War II. He accurately captured the astounding impact and contributions with this single phrase.
This generation is part of the fastest growing (aging in) segment of the U.S. population. The number of people ninety-five years and older has increased by almost 50% since 2010. [i]
“When an elder dies, a library burns.” – African Proverb
Even though they are the fastest growing segment, we are obviously and unfortunately losing these “libraries”.
Just over the last few weeks we have lost some giants of the generation - Henry Kissinger, Sandra Day O’Connor, Charlie Munger, and Rosalynn Carter.
Henry Kissinger, “America has no permanent friends or enemies, only interests.”
Henry, born in Germany, fled the Holocaust with his family in 1938. He would ultimately join the U.S Army and receive the Bronze Star for his role in the Battle of the Bulge. Kissinger's influence on U.S. foreign policy and his ideas on diplomacy, continue to be the subject of debate and study. He sat on the cabinets of, or directly counseled ten presidents on international affairs.
Sandra Day O’Connor, "The power I exert on the court depends on the power of my arguments, not on my gender."
On July 7, 1981, President Ronald Reagan nominated Sandra Day O'Connor to the United States Supreme Court. O'Connor's legacy is marked by her groundbreaking achievement as the first female Supreme Court Justice and her dedication to promoting the rule of law. She is widely regarded as a trailblazer for women in the legal profession and a significant figure in American history.
Charlie Munger, “"The big money is not in the buying and selling, but in the waiting."
Charlie and Warren Buffett first intersected in the 1960s. Together, they transformed Berkshire Hathaway from a struggling textile company into the diversified conglomerate it is today. Munger is widely regarded as a brilliant investor and thinker, and his contributions to the fields of investing and business have had a profound impact. His emphasis on lifelong learning, rational decision-making, and the use of mental models will continue to influence investors and business leaders around the world.
Rosalynn Carter, "You have within you right now, everything you need to deal with whatever the world can throw at you."
Rosalynn and Jimmy were married in 1946. She would be one of the most engaged first ladies in history. Throughout his term as president, Rosalynn Carter was one Jimmy’s closest advisers. She also sat in on most cabinet meetings. She was an advocate for mental health. Her advocacy efforts will have a lasting impact on mental health awareness.
Thankfully, there will be a few from this generation who will read this. But for the rest of us, can you imagine the life and change this group has experienced?
A lot of time and energy is spent trying to predict the future. What is going to happen in this or that part of the world? What is the next great technology? What is the next hot sector or stock? What will interest rates do?
This is interesting and makes for good soundbites, but NOBODY can predict the future.
In Morgan Housel’s new book, Same as Ever, he suggests it would be more fruitful to focus on those things that never change rather than peering into crystal balls.
Since this generation’s birth, much has changed - travel, communication, technology, geopolitics.
But much is the same. People are still persuaded by fear, greed, jealousy, and cultural affiliations. We exhibit overconfidence and shortsightedness, but we are also resilient, optimistic, and ultimately find our way.
It is a natural time of the year to reflect on the past and look to the future. Treasure the family, friends, and moments that have blessed you and those who came before us to make it all possible.
In this ever-changing world, where we are constantly bombarded with the latest trends, predictions, and technological advancements, it is essential to pause and reflect on the enduring truths that remain constant. As we bid farewell to the giants of the Greatest Generation and celebrate their remarkable lives, be reminded of the timeless values and principles that have guided them—and can continue to guide us.
Have a happy holiday and prosperous New Year.
My best,
Ryan
[i] U.S. Census Bureau. Sourced from - https://www.census.gov/library/stories/2023/05/2020-census-united-states-older-population grew.html#:~:text=The%20U.S.%20population%20age%2065,the%20United%20States%20in%202020.