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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

#331

Post by sofixa »

danielmarkbruce wrote: post #238
tw04 wrote: post #207

Earlier quoted context omitted.

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_...

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

The idea that profits are more important than basic humanity is preposterous.

The unions wanted sick leave, because under the current system, employees were scheduled weeks in advance with zero margin. If the employee was sick, they had to ask for PTO which would get denied because of lack of notice and any margin (other employees to cover the job)

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

#332

Post by sofixa »

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…

Buffet was "carrying most people forward" how exactly? Squeezing companies he had shares in to be as efficient as possible, leading to poorer quality and outright dangerous working conditions isn't bettering anyone other than shareholders, which aren't most people.

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

#333

Post by [deleted] »

colechristensen wrote: post #279
brandon272 wrote: post #235

Earlier quoted context omitted.

The interesting thing about this is that Buffett himself has never really had a reputation for taking care of his body in terms of getting exercise or eating well.

At 94, there have probably been a dozen contradictory versions of what "eating well" meant to a large consensus of people. There should be a lot of skepticism for any particular version of "healthy" is when it comes to diet. "Variety and moderation" is probably good enough advice for most people without specific health conditions.

[deleted]

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

#334

Post by chgs »

ianbutler wrote: post #208
chgs wrote: post #107

Earlier quoted context omitted.

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.

It’s a statement that was made by learned people 1500 years ago.

Just because say A Christmas Carol or Star Trek or The Bible are works of fiction, it doesn’t mean they don’t have some wise observations, especially when taken in a cultural context.

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

#335

Post by chgs »

WalterBright wrote: post #121
chgs wrote: post #107

Earlier quoted context omitted.

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

There are many interpretations of that line, and without the context it is in it is difficult to see which one is correct. Here's one: "Jesus' statement highlights the principle that salvation is a gift from God, not earned through good deeds or accumulated wealth. It emphasizes the need for humility and faith, rather than relying on material possessions or social standing."

It amazing how the wealthy and powerful try to twist a tale of the life of someone so openly socialist to instead claim it’s a story championing wealth.

The general theme of “don’t worry about injustice now, things will be right after you die” is of course very strong to preserve the wealth. If you believe you will get your just rewards after you die, there’s less need to fight for an equitable world today.

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

#336

Post by arrosenberg »

dragonwriter wrote: post #321
arrosenberg wrote: post #308

Earlier quoted context omitted.

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.

It sounds like you think material conditions haven’t gotten worse? Cost of housing, food and healthcare, plus flat wages seem to disagree. I think in this case people’s perception matches reality.

I’ve noticed you refuse to put forward your own reasons, why is that?

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

#337

Post by sebastiennight »

mckirk wrote: post #164
sbankowi wrote: post #136

Earlier quoted context omitted.

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.

I think for the upvoter, sending an upvote can trigger that same feel-good, "I agree to this!" dopamine hit as an emoji reaction would.

For the upvoted, seing their magical internet points go up can also feel the same as the notification that they received your heart emoji.

BUT - for the network, having scores be hidden and not displaying a loot of emoji reactions on each post makes a huge difference - it changes the incentives.

You don't get socially rewarded for engagement, because the loot is invisible in the thread (aside from being shown higher on the page). This disincentivizes Reddit-style snark, Twitter-style dunks, etc.

This probably disproportionally tends to attract the kind of people who like discreet positive reinforcement for smart well thought-out comments.

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

#338

Post by tailspin2019 »

danielmarkbruce wrote: post #240
sillysaurusx wrote: post #97

Earlier quoted context omitted.

I’m a bit slow in this field. Could someone explain how this quote relates to tariffs? I’ve re-read it three times now, looking for the connection to a tax on imported goods, but I just can’t see it. I think it’s saying that the US population is crowing about how well we’ve done, and so we should be able to tax whatever imports we want? But what an odd way to say that if so. How well we’ve done seems completely unrel…

He's saying starting a trade war with china is really dumb - you don't want 7.5 people mad at you.

China doesn’t (yet) have 7.5 [billion] people.

That number in his quote is referring to the entire rest of the world.

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

#339

Post by netsharc »

DonHopkins wrote: post #324
netsharc wrote: post #160

Earlier quoted context omitted.

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.

Apparently mistaken faith in austerity and the invisible hand of the market is comparable to the color of one's skin. One is born with it and can't change it...

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

#340

Post by tim333 »

tw04 wrote: post #207
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…

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_...

That link mentions a dispute between 12 unions and 6 rail companies one of which is amongst the dozens of companies owned by Berkshire, run by Buffett. I see no mention of Buffett personally getting involved?
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