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Buffett to step down following six-decade run atop Berkshire

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Re: Buffett to step down following six-decade run atop Berkshire

#51

Post by DontchaKnowit »

locallost wrote: post #42
behnamoh wrote: post #29

All that money and he's still a mortal just like the rest of us. I wonder if mega billionaires like him have done private research on life longevity, cryosleep, mind-upload, etc. It's the only useful thing they can do with that much money that directly benefits them. Anything else (legacy, influence, children, etc.) doesn't benefit them when they're gone.

There are things I don't like about him, and the way he is idolized by people that want to accumulate money. But I will say you can't really throw that "all that money and he's still mortal" thing at him because in reality he lived really below his means. So the money part is interesting, why did he try to get so much if he didn't really need it? I think (without really knowing anything about him), that he wanted mon…

Hes literally like, autistic or something. If you've ever watched the documentary on him he has a got a weird way about him. Hes got an obsessive knack for numbers and just got into the finance game where literally your job is to make as much money as possible. Its your fiduciary obligation. The rest os history.

Re: Buffett to step down following six-decade run atop Berkshire

#52

Post by buckle8017 »

andrewl wrote: post #33

Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Here's one short video (2:46) in which he talks about it: https://www.youtube.com/watch?v=VJzTsTU1xL8

[flagged]

Re: Buffett to step down following six-decade run atop Berkshire

#53

Post by _uoud »

xNeil wrote: post #20
8f2ab37a-ed6c wrote: post #16

I always run across great quotes from Warren Buffett, but I never spent any time actually reading any of his writings or anything written about him. What's the best place to start to absorb some of his wisdom? Anything that's applicable to startups, tech, and life in general, beyond being the CEO of a holding company?

Not by Buffett, but you'll love Poor Charlie's Alamanack, by Charlie Munger, his lifelong business partner. https://www.stripe.press/poor-charlies-almanack/cover

For Buffett I recommend Essays of Warren Buffett. Regarding Munger’s Almanack, I wrote a nice summary just before his death:

”A real estate investment of $24 by the Dutch to buy the island of Manhattan would today be roughly equivalent to $3 trillion. Across 378 years, that’s about a seven percent annual compound rate of return…”

https://www.lostbookofsales.com/notes/poor-charlies-almanack...

Re: Buffett to step down following six-decade run atop Berkshire

#54

Post by thi2 »

kinnth wrote: post #37
heresie-dabord wrote: post #28

Earlier quoted context omitted.

> Still, end of an era. That is an enormous understatement. At 94, Buffet has witnessed history and has represented a vision of betterment, a just society, and sound economic stewardship. These things were not and are not hallucinations. But for many, it seems, the lessons about co-operation, stable economic growth. the sane application of democratic principles, and the rule of law must be learned again. It's the end…

Buffet reminded me a lot of Angela Merkel. They stood clearly and simply for good moral judgment, fair systems and looked at the bigger picture to carry most people forward. They also based all their decision in facts, truth and science. They learn't their trades (economics & politics) over time and weren't afraid to adapt as times changed. Their slow and steady presence did more for equality and fairness than many o…

That has to be about a different Angela Merkel, the one I know had one priority: preserving status quo.

Re: Buffett to step down following six-decade run atop Berkshire

#55

Post by jnwatson »

fifilura wrote: post #47
kinnth wrote: post #37

Earlier quoted context omitted.

Buffet reminded me a lot of Angela Merkel. They stood clearly and simply for good moral judgment, fair systems and looked at the bigger picture to carry most people forward. They also based all their decision in facts, truth and science. They learn't their trades (economics & politics) over time and weren't afraid to adapt as times changed. Their slow and steady presence did more for equality and fairness than many o…

It is ok, I understand how you are thinking. But unfortunately I think Merkels legacy will be "Wandel durch handel". Trying to pacify Russia and Putin through increasing trade. Did not work.

Don't forget the climate-change-decision-accelerating decision to mothball all their nuclear reactors. This was a monumentally poor strategic decision from multiple angles.

Re: Buffett to step down following six-decade run atop Berkshire

#56

Post by omer9 »

buckle8017 wrote: post #52
andrewl wrote: post #33

Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Here's one short video (2:46) in which he talks about it: https://www.youtube.com/watch?v=VJzTsTU1xL8

[flagged]

Tax is mandotary, gift isn't.

Why should Joe Average pay more %% in taxes and Billionair and Co not?

Re: Buffett to step down following six-decade run atop Berkshire

#57

Post by ceejayoz »

buckle8017 wrote: post #52
andrewl wrote: post #33

Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Here's one short video (2:46) in which he talks about it: https://www.youtube.com/watch?v=VJzTsTU1xL8

[flagged]

I, similarity, can opt not to murder people. It is still an issue if others do it.

Re: Buffett to step down following six-decade run atop Berkshire

#58

Post by davidw »

closewith wrote: post #35
heresie-dabord wrote: post #28

Earlier quoted context omitted.

> Still, end of an era. That is an enormous understatement. At 94, Buffet has witnessed history and has represented a vision of betterment, a just society, and sound economic stewardship. These things were not and are not hallucinations. But for many, it seems, the lessons about co-operation, stable economic growth. the sane application of democratic principles, and the rule of law must be learned again. It's the end…

[flagged]

You can argue that no one should be able to accumulate that much because in the wrong hands it's too much power.

But that doesn't mean everyone who has made that much money is evil.

Re: Buffett to step down following six-decade run atop Berkshire

#59

Post by bergheim »

kinnth wrote: post #37
heresie-dabord wrote: post #28

Earlier quoted context omitted.

> Still, end of an era. That is an enormous understatement. At 94, Buffet has witnessed history and has represented a vision of betterment, a just society, and sound economic stewardship. These things were not and are not hallucinations. But for many, it seems, the lessons about co-operation, stable economic growth. the sane application of democratic principles, and the rule of law must be learned again. It's the end…

Buffet reminded me a lot of Angela Merkel. They stood clearly and simply for good moral judgment, fair systems and looked at the bigger picture to carry most people forward. They also based all their decision in facts, truth and science. They learn't their trades (economics & politics) over time and weren't afraid to adapt as times changed. Their slow and steady presence did more for equality and fairness than many o…

> They also based all their decision in facts, truth and science

What? She shut down nuclear power plants to ramp up coal and Russian dependence.

Idolizing people is rarely helpful.

Re: Buffett to step down following six-decade run atop Berkshire

#60

Post by nabla9 »

next_xibalba wrote: post #40
tchalla wrote: post #24

Buffet on Tariffs > “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done - I don’t think it’s right, and I don’t think it’s wise,” Buffett said. “The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago. There’s not been any…

Buffett actually does share a fear of trade deficits, though. His proposed solution, as an alternative to tariffs, were "import certificates"-essentially a marketable credit required to import goods. These would be earned via exports by exporters, be freely priced and traded, and would essentially bind import levels to export levels.

It's really a non-problem.

Net capital inflows into the U.S. = U.S. trade deficit. The balance of payments is simply: Sales of assets – Purchases of assets = Purchases of goods – Sales of goods

If you balance the trade, it means foreigners must stop investing into the US.

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