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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

#321

Post by dragonwriter »

arrosenberg wrote: post #308
dragonwriter wrote: post #304

Earlier quoted context omitted.

> If you have an alternative hypothesis, I’m all ears. How about if I let you do that: > In America, at least, workers think tomorrow will be worse than today and they are resorting to populism to try and reverse the trend. See, belief about likely future conditions is a very different hypothesis than factually-existing current conditions, and a better one. To the extent that, IMO, its at least part of the actual exp…

It’s the same hypothesis. Its a line trending down, and there is an awareness that today is less than yesterday and more than tomorrow.

> It’s the same hypothesis.

No, perception and reality are different things.

> Its a line trending down

Perception? Sure. Reality? No, it factually wasn't prior to the events that it is being invoked to explain.

Which is why perception of decline is a much more defensible hypothesis as to the cause than actual decline.

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

#322

Post by ornornor »

postpawl wrote: post #299
danielmarkbruce wrote: post #238

Earlier quoted context omitted.

The idea that companies should just agree to whatever proposal comes in from a union is preposterous.

They were negotiating their way up from zero paid sick days per year.

Crazy this is still a thing nowadays especially in so-called developed economies.

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

#324

Post by DonHopkins »

netsharc wrote: post #160
DonHopkins wrote: post #146

Earlier quoted context omitted.

[flagged]

Feh, Merkel created conditions for the rise of right wing fascism... IMO. She and her finance minister championed austerity uber alles, squeezing the middle and lower class across the EU, and then she said refugees were welcome. I agree with the idea of helping people fleeing bombs and bullets, but after decades of saying there's money, we need to watch our budgets, suddenly there's money? Nooo fucking wonder the pop…

Yeah, just like Obama created conditions for the rise of right wing MAGA fascism in the US by being black. Thanks Obama!

Right wing fascist are going to try to seize power no matter how nicely you treat them.

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

#325

Post by ETH_start »

Buffett's father, Howard Buffett, was perhaps the most libertarian congressman in U.S. history.

He was also a vehement opponent of foreign military intervention, including military aid:

"Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns. Persuasion and example are the methods taught by the Carpenter of Nazareth, and if we believe in Christianity we should try to advance our ideals by his methods. We cannot practice might and force abroad and retain freedom at home. We cannot talk world cooperation and practice power politics."

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

#326

Post by HeadsUpHigh »

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 bigger picture to carry most people forward

The bigger picture of getting germany dependent on russian gas while screwing eu allies.

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

#327

Post by lotsofpulp »

lurk2 wrote: post #309
iepathos wrote: post #301

Earlier quoted context omitted.

I don’t think it’s accurate to say that the working class is “resorting to populism to reverse the trend.” If anything, the fact that so many working-class voters support a wealthy oligarchy—one that consistently advances policies benefiting the super-rich at the expense of ordinary people—suggests that a significant portion of the population is being swayed by misinformation and manipulation, not that they’re succes…

> Ironically, it’s often the opposite party that actually pushes for policies that would materially benefit the working class. Such as?

All the Democrat led states have paid leave and higher minimum wages/overtime exempt laws. And higher unemployment benefits. And longer leave times for new moms. It’s also the Dem states that have free school lunches for kids and more robust Medicaid funding.

Democrats passed ACA, which made insurance even possible to purchase if you weren’t offered it by employer, and the annual out of pocket maximum, ban on pre existing conditions as a criteria for calculating premiums, and ACA premium credits made it more attainable than it was before ACA.

Build Back Better bill a couple years ago would have made paid leave policies nationwide and provided more assistance with childcare.

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

#328

Post by bornfreddy »

WalterBright wrote: post #289
mmooss wrote: post #278

Earlier quoted context omitted.

The current wealth disparity, at historic levels, began growing mostly in the 1980s. > 1968 was the advent of the "Great Society" programs. 1968 was when Nixon was elected. > During the 19th century, the US elevated scores of millions of immigrants from poverty to the middle class and beyond. The newly wealthy "aristocracy" sprang from the poor I don't grasp the relevance of these 19th century events to today. How do…

The US was not settled by wealthy people, or even middle class people. The poor people came by the scores of millions. Many came as indentured servants. The Irish came here because of the potato famine. And so on. If you like, name a wealthy American who came from royalty. I can't think of any. Fun fact: the Titanic was not built to transport rich people to the US. Quite the contrary, the bulk of it was for poor peop…

That doesn't matter anymore. The wealthy class might not be called "royalty" (yet?), but they effectively are. The chances today for someone who starts in a poor family to reach middle class, let alone become rich, are very slim. Pretending that the current system in the US is catering to anyone else except the rich is disingenuous.

That said, I agree that the economy of such a society has a better chance of succeeding, but it's at the cost of suffering of lots of people. Actually both extremes are bad - socialism has its problems, but so does the unchecked capitalism.

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

#329

Post by ajross »

WalterBright wrote: post #233
mmooss wrote: post #225

Earlier quoted context omitted.

Worse for who? The US outcomes have been very good for the wealthy, especially the ultra-wealthy, but less good for other people than outcomes in many other wealthy countries.

During the 19th century, the US elevated scores of millions of immigrants from poverty to the middle class and beyond. The newly wealthy "aristocracy" sprang from the poor, much to the disdain of European royalty. Poverty in the US continued going down until 1968, when it began edging up again. 1968 was the advent of the "Great Society" programs.

> Poverty in the US continued going down until 1968, when it began edging up again. 1968 was the advent of the "Great Society" programs.

Poverty rates are significantly lower in the industrial world outside the US, even (especially!) in the "socialist" countries you seem to liken to LBJ policies. Seems like the same data you're referring to above cuts directly and strongly against this point.

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

#330

Post by mayankkaizen »

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?

Read his annual letters to shareholders. Fantastic writings.
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