Conglomerates, Mass Media and Unconditional Love

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Microsoft Chair Bill Gates, News Corp. CEO Rupert Murdoch, New York Mayor Michael Bloomberg, news legend Tom Brokaw.

The list is pretty impressive at this week's Allen & Co. retreat at the Sun Valley resort. Everything is officially "off the record," and there is very little media access, but each year, Berkshire Hathaway CEO Warren Buffett usually grants one interview. This morning, Yahoo News and the Huffington Post are publishing a conversation with Buffet, who is optimistic about the future of the nation's economy.

"We're on the right course," Buffet says. And he's encouraging President Obama to speak with "enormous confidence" about the country's economic future.

And in a moment of rare insight, Buffet speaks of the best advice he's ever shared:

"The power of unconditional love. I mean, there is no power on earth like unconditional love. And I think that if you offered that to your child, I mean you’re 90 percent of the way home. There may be days when you don’t feel like it, it’s not uncritical love, that’s a different animal, but to know you can always come back, that is huge in life. That takes you a long, long way. And I would say that every parent out there that can extend that to their child at an early age, it’s going to make for a better human being."

Buffet would be happy to learn that many of the moguls took their kids to the conference. The New York Times reports this morning, that they may get a private screening of Toy Story 3 today. Citydesk is pretty sure the conference can make that happen, since one of the attendees is Disney Chief Bob Iger.