Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Buffett to step down following six-decade run atop Berkshire

bloomberg.com

Post reply on HN
Print view View original

161–170 of 435 posts

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

#161

Post by epolanski »

dehrmann wrote: post #41
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 to diminish any of his accomplishments, but read his quotes and story as being a product of his time. He famously missed out on a lot of solid tech investments because of his background as a value investor. Value investing doesn't exist the same way it did when Berkshire started making a name for itself. Tech investing also isn't them same as 1997, 2004, or 2010.

You are, and you're doing so naively, because one of the reasons Buffett has been successful is that he stuck to things that were in his circle of competence.

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

#162

Post by TheAlchemist »

DontchaKnowit wrote: post #43
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?

Honestly his ex wifes book about how he reads 10k reports is really good. Cant remember the name.

Never heard about it, and can't find a trace on google. If you remember, please post here.

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

#163

Post by netsharc »

JimmyBiscuit wrote: post #90
bergheim wrote: post #59

Earlier quoted context omitted.

> 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.

She shut down nuclear power because of extreme pressure from the population. Tens of thousands protested around her office. Nuclear is complicated (and mostly fear driven) in Germany. Oddly enough the first exit was done under Schröder who is a russian asset. Makes you think.

She finally agreed to shut down nuclear because Fukushima happened just a few days before the state elections of Baden-Württemberg. She was afraid of a rout so she agreed to do the above, and her party lost to the Greens anyway.

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

#164

Post by mckirk »

sbankowi wrote: post #136
HeavyStorm wrote: post #133

Earlier quoted context omitted.

I read the title and thought, about time, he's probably 80-something. I really hope I could be productive at 90. Heck, I hope I'm productive at 70.

Heck, I hope I’m productive on Monday!

Generally I'm really glad that HN has resisted the social media brain-rot trends, but sometimes the ability to react to a comment with a heart emoji would be cool.

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

#166

Post by Supermancho »

lucianbr wrote: post #18
Supermancho wrote: post #10

Earlier quoted context omitted.

What are you trying to say? It's not clear at all.

Pretty clear and funny to me. Not sure how to explain it without just repeating the same thing. It seems the markets will soon go through a period when Buffet's approach will work best, which makes it an inoportune moment for him to retire. Of course at his age retirement is expected, maybe even inevitable - that's the joke.

> And now after decades of stock buybacks, quantitative easing and other mad financial manipulation, comes again the time for value investors

These are things that have happened in the past. Mad financial manipulations? Like what is "mad"? "Comes again the time." How is it different than any other day?

> Pretty clear and funny to me.

You're making up your own interpretation of nonsense then calling it obvious. Good luck with that.

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

#167

Post by FiniteField »

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…

"The current times" are a direct result of decisions like that of Merkel to throw open the borders of Germany to a million unchecked foreign men. If there's one reason that the AfD is the largest party in Germany today, it's because of that decision Merkel made a whole decade ago. How was that "based in facts, truth and science", or "slow and steady"?

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

#168

Post by yodsanklai »

WalterBright wrote: post #127
terribleperson wrote: post #101

Earlier quoted context omitted.

Part of the justification for tarriffs is that America is somehow being 'taken advantage' of by the rest of the world and the tarriffs are the rest of the world finally paying their fair share. The reality is that (until now) America has had a uniquely privileged position in the world economy that got America, in general, very beneficial trade deals. He's commenting on the attitude driving the tariffs.

Uniquely privileged position? The only unique thing about America is free markets. Any country can become highly successful by enacting free markets. The only thing in the way is their disbelief that they work. There's a common thread across the world and history. The more free market a country is, the more it prospers.

> The only unique thing about America is free markets

Is that unique to America? I'm in EU, I thought we had free markets too.

> The more free market a country is, the more it prospers.

Some countries, including the US, reached prosperity by protecting their markets.

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

#169

Post by epolanski »

khazhoux wrote: post #128

For all I've heard about WB the last few decades, I couldn't tell you a single thing he's done that's impacted my life, the country, or the world. AFAIK he's a guy who makes a ton of money, plays bridge with Bill Gates, gives advice, and has a fund that made money for other people. Am I missing something?

He's not a politician, he doesn't have to.

Still, he's given dozens of billions in charity, given important counsel to the government during the 80s and 2008 financial crisis.

During 2008 financial crisis he essentially saved Goldman and General Electric both preventing further escape of capital and an even worse situation for the US and potentially world economy.

In any case, he's a capitalist who likes making money for himself and his shareholders, he ain't a medical researcher or your mayor.

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

#170

Post by deadbabe »

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.

With all the billionaires we've had, the fact that no one is living unnaturally long or in some kind of cryosleep or AI simulation probably means one thing: It's simply not possible, and if it is, all the money in the world won't get you there.
Post reply on HN