[deleted]
Warren Buffett's final shareholder letter [pdf]
51–60 of 216 posts
Re: Warren Buffett's final shareholder letter [pdf]
#52Here's a person with integrity. They're very rare these days, especially amongst the wealthy.
Alas, this is not his only foible. https://www.cnbc.com/2015/05/02/warren-buffett-defends-clayt...
What a non story. God forbid people build homes in this country. Manufactured homes, no less, that are extra affordable, but the actuaries require higher interest to make the business work because the buyers are higher risk
Re: Warren Buffett's final shareholder letter [pdf]
#53Earlier quoted context omitted.
Would you rather be 95 years old with a trillion dollars or 25 years old with a thousand?
Well, both, obviously. But in all seriousness, if I had to choose, I think I'd rather be 25 with $1k. I really don't need a trillion dollars, at any point in my life (and certainly not with too few years left to do anything with but the tiniest fraction of it). I don't need a billion dollars, even. I figure $20M would allow me to do anything I wanted to do, with a healthy cushion in case anything went wrong. (Well, w…
> Well, both, obviously.
So, 95 with 1k?
Re: Warren Buffett's final shareholder letter [pdf]
#54Earlier quoted context omitted.
It’s literally just saying 6-7. No, I don’t get it either. My kids thought it was hilarious to watch me grapple with it, though.
It originated as a brag - a basketball player said it like "I am 6' 7", therefore I am a high quality male and women should reproduce with me". Then shorter people picked up on it
[deleted]
Re: Warren Buffett's final shareholder letter [pdf]
#55Earlier quoted context omitted.
He definitely wants us to think that about his integrity, his fans even more so and in fairness, he's pretty good. Not quite the sunday-school capitalism perfection that some would have us believe. Which can grate a bit if you've looked in detail at his career.
Yeah he’s not quite Jack Welch level of dissonance between reality and his fanboys, but he’s hardly some superhero for profiting from the great financialization of the US economy. He made sure his book got bailed out during the GFC. He cheered on Wells Fargo while they opened up a bunch of fraudulent accounts. And so on.
And when he found out about Wells Fargo's behavior, he liquidated the position and has remained out of it. I fail to see the problem with what he did in that case. As a ~5% holder he (Berkshire) had no special control over the company in terms of micro-audits to surface such fraudulent behavior promptly as it was happening.
Re: Warren Buffett's final shareholder letter [pdf]
#56So it will be the Greg Abel show during the next meeting in Omaha? Unenviable task. The crowd will be very supportive but those are huge shoes to fill.
They'll sell off / spin-off the smaller businesses (which were held because of sentiment), simplify the business positions, and focus more on Abel's specializations. And Berkshire will lose some of the so-called Buffett premium. Impossible shoes to fill. They'll effectively break Berkshire up. A lot of that cash will go to stock buybacks as the Buffett premium vanishes.
Re: Warren Buffett's final shareholder letter [pdf]
#57Earlier quoted context omitted.
Well, both, obviously. But in all seriousness, if I had to choose, I think I'd rather be 25 with $1k. I really don't need a trillion dollars, at any point in my life (and certainly not with too few years left to do anything with but the tiniest fraction of it). I don't need a billion dollars, even. I figure $20M would allow me to do anything I wanted to do, with a healthy cushion in case anything went wrong. (Well, w…
> Well, both, obviously. So, 95 with 1k?
that would imply you would live to 95 which is a gift by itself
Re: Warren Buffett's final shareholder letter [pdf]
#58Earlier quoted context omitted.
This is actually a pretty hard question for me because you’re basically asking. Do you want the power to be able to change the world in radical ways by giving up your life? Suicidal Brewster’s millions..
I'm not sure I'm convinced a trillion dollars in one person's hand could radically change the world. Money is a big deal, to be sure, and money gives you a lot of power, but there's so much else when it comes to politics and power that I expect there would be many roadblocks in your way. And on top of that, it's possible -- perhaps even easy -- to deploy vast sums of money in well-meaning ways that turn out to have d…
I mean, you could self fund any political candidate on the planet for the years you had left. That alone could radically change the world. I’m always impressed at the low cost of “lobbying” in politics. You could fund a moon base! A trillion dollars is bonkers money. It’s also different from “paper billionaires” who have resources tied up in stock.
Re: Warren Buffett's final shareholder letter [pdf]
#59Here's a person with integrity. They're very rare these days, especially amongst the wealthy.
Is this satire?
Re: Warren Buffett's final shareholder letter [pdf]
#60Earlier quoted context omitted.
It’s literally just saying 6-7. No, I don’t get it either. My kids thought it was hilarious to watch me grapple with it, though.
I don't get it either but me using it is a great way to annoy my kids.
Nothing makes a joke stop being funny to kids faster than an adult trying too hard to get in on it! Some day when they're older they'll realize that was your goal and the cycle will continue.