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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

#201

Post by emchammer »

heresie-dabord wrote: post #28
riffraff wrote: post #5

He's 94 years old, it's honestly impressive he was still there. Still, end of an era.

> 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…

I wish I could have breakfast with him and just talk about what it all means. I hear he goes to some local diner.

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

#202

Post by derivagral »

khazhoux wrote: post #152
zhivota wrote: post #143

Earlier quoted context omitted.

Buffett invested in boring industries like insurance. As unexciting as it is, businesses like that basically are the invisible infrastructure that makes society work smoothly. Don't misunderstand flashy at the only way to be important.

Which kind of investment was it though? * An investment that makes something possible that otherwise wouldn’t happen. Like the US investing in NASA * Investment that is not consequential in the big scheme except it makes people money. Did his insurance investments keep some companies alive?

Generally the latter. The very short version is that he focused on cash flow, and liked (re) insurance due to success managing float and risk. From there, he'd buy/invest stable businesses and brands. Insurance wasn't his first go, he started bookie work as a kid.

As for saving, he was the guy with a big pile of money in '08 (and other times). Someone you call when your business is dying or you want to retire; he gets the deal, not you. His Bank of America warrant play was a big one from that time.

I didn't finish snowball, but the first half goes over a lot of it.

https://en.wikipedia.org/wiki/The_Snowball%3A_Warren_Buffett...

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

#203

Post by DontchaKnowit »

vmurthy wrote: post #184
DontchaKnowit wrote: post #43

Earlier quoted context omitted.

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

If you’re talking about Mary Buffett, it is his ex daughter-in-law. How to read financial reports like Warren Buffett is the book (I think)

Thats the one, thank you

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

#204

Post by DontchaKnowit »

TheAlchemist wrote: post #162
DontchaKnowit wrote: post #43

Earlier quoted context omitted.

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.

Warren Buffett and the interpretation of financial statements by Mary Buffett

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

#205

Post by infecto »

forgetfreeman wrote: post #148
infecto wrote: post #119

Earlier quoted context omitted.

Didn’t he retract from the Gates foundation last year. His children will be in charge of it to “donate”. I don’t know the specific mechanics but seems like it’s a good way to simply give it to your kids. They all run types of charities. https://www.inc.com/jason-aten/with-4-words-warren-buffett-e...

Not to rain on anyone's parade but it is important to note that philanthropic trusts are an excellent way to avoid taxes.

Agree, I might not have hinted at that strong enough. It might have some philanthropic end uses but last time I remember looking at his kids charities, they were very strange.

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

#207

Post by tw04 »

heresie-dabord wrote: post #28
riffraff wrote: post #5

He's 94 years old, it's honestly impressive he was still there. Still, end of an era.

> 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…

I will say that his pragmatism seemed to fall apart pretty quickly when the rubber met the road - unless I’m misinformed (which I may be).

Berkshire was a key player in the rail workers strike of 2022 and Warren didn’t seem to want to give an inch to the working man when given the opportunity to do so.

https://en.m.wikipedia.org/wiki/2022_United_States_railroad_...

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

#208

Post by ianbutler »

chgs wrote: post #107
ianbutler wrote: post #88

Earlier quoted context omitted.

Going to need a huge citation on this one.

it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God

Forgive me, but as a non religious person the bible is no authority for or of me so if that's the best you have I find we're at an impasse.

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

#209

Post by gen220 »

ivape wrote: post #17

It's kind of a damn shame a man like that was not tapped for any major economic position in the government. I don't know how men like Peter Navarro got so far. In a sense, all the money in the world didn't actually fulfill his true potential, and I say that with the utmost respect.

He was asked by Schwarzenegger for advice on California economic policy. Warren did his research, and astutely suggested they should try to scrap Proposition 13 (IMO it's among California's worst policies, but it's a political third rail). I don't think he was asked for economic policy advice ever again :)

I'm sure he's full of good ideas. I think they were just a bit more ambitious than the last 40 years of politicians were willing to stomach or advocate for.

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

#210

Post by Panzer04 »

TeaBrain wrote: post #144
WalterBright wrote: post #127

Earlier quoted context omitted.

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 This is less unique than the dollar being the dominant reserve currency and dominant currency for settling international trade.

And why do you think the dollar is dominant in international trade?

You appear to be putting the cart before the horse.

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