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Warren Buffett's final shareholder letter [pdf]
121–130 of 216 posts
Re: Warren Buffett's final shareholder letter [pdf]
#122Earlier quoted context omitted.
Warren Buffett is a great investor but nobody in finance buys his folksy image. Everybody knows he's an animal. I heard from folks in the room that the way 3G and Buffett came in to do layoffs at Tim Hortons was one of the most cold blooded things they've ever seen.
He's donated, already, the equivalent of 200+ billions USD (give or take 420M class B shares). Say what you want, but the list of billionaires who have donated such large amounts of money while still alive (or dead) is small. Cherry picking events like layoffs, without truly knowing how much was he involved (Berkshire directors notoriously enjoy lots of autonomy) or if the layoffs made sense, etc, seems a stretch whe…
If somebody focuses on something negative, it's cherry-picking, but if you focus on something positive it isn't?
How much money has he saved dodging taxes over the years[1]?
[1]: https://www.propublica.org/article/the-secret-irs-files-trov...
Re: Warren Buffett's final shareholder letter [pdf]
#123Earlier quoted context omitted.
Warren Buffett is a great investor but nobody in finance buys his folksy image. Everybody knows he's an animal. I heard from folks in the room that the way 3G and Buffett came in to do layoffs at Tim Hortons was one of the most cold blooded things they've ever seen.
He's donated, already, the equivalent of 200+ billions USD (give or take 420M class B shares). Say what you want, but the list of billionaires who have donated such large amounts of money while still alive (or dead) is small. Cherry picking events like layoffs, without truly knowing how much was he involved (Berkshire directors notoriously enjoy lots of autonomy) or if the layoffs made sense, etc, seems a stretch whe…
To whom? To "charities" owned by other billionaires such as Bill & Melinda Gates Foundation and those owned by his children.
I don't want billionaires to donate anything, I don't want them to use their money to shape the world to their liking. I want them to pay their fair share of taxes and a functional government that properly allocates those extra funds instead of funding the bare minimum.
Re: Warren Buffett's final shareholder letter [pdf]
#124At such an old age why does he care about his business?
With so much money why do his kids care either?
For goodness sake, stop working, try and solve global warming or world hunger or something.
Or buy a small country. Make yourself president. Create a utopia for its population.
But more of the same.. more of the same.. $300B or $301B when you finally kick the bucket? How shallow.
Re: Warren Buffett's final shareholder letter [pdf]
#125"Choose your heroes" is the first advice I've heard in a while that's making me stop and think who I hold in high regard with my actions.
Re: Warren Buffett's final shareholder letter [pdf]
#126>Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior. >I write this as one who has been thoughtless countless times and made many mistake…
"Keep in mind that the cleaning lady is as much a human being as the Chairman." Keep also in mind that the cleaning lady and the receptionist usually know way way more about the insides of a company than an entire board of directors and managers ever will. It is also extremely beneficial to your own health to be nice and friendly to the people who clean, prepare your food and aid your medical well being. They will re…
You should absolutely be a good human to people, but I don't think it is at all true to say "the cleaning lady and the receptionist usually know way way more about the insides of a company"
Truth is they generally don't and they also don't care. Why would they? They literally are not paid enough to care.
Re: Warren Buffett's final shareholder letter [pdf]
#127Lucky guy: He managed to retire before having to reckon with the coming end of the Bubble Era. It won't be the same without him.
On contrary, it's sad that he can't see how his "I Don't Buy What I Can't Understand" strategy wins again. Buffet thrives when bubbles burst. More than third of Berkshire valuation is now cash. Berkshire has $350 billion USD in cash and cash equivalents. They accumulate cash because they don't find enough things worth buying (all stocks seem too expensive for them). When the bubble bursts, there will be undershoot an…
100% agree
Re: Warren Buffett's final shareholder letter [pdf]
#128Earlier quoted context omitted.
He's donated, already, the equivalent of 200+ billions USD (give or take 420M class B shares). Say what you want, but the list of billionaires who have donated such large amounts of money while still alive (or dead) is small. Cherry picking events like layoffs, without truly knowing how much was he involved (Berkshire directors notoriously enjoy lots of autonomy) or if the layoffs made sense, etc, seems a stretch whe…
If somebody focuses on something negative, it's cherry-picking, but if you focus on something positive it isn't? How much money has he saved dodging taxes over the years[1]? [1]: https://www.propublica.org/article/the-secret-irs-files-trov...
You really fighting on the wrong side of the hill, Buffett has advocated for higher taxes for ages. He's neve made it a secret and he's always said that he pays a lower effective tax rate than his secretary.
In any case, what am I looking at here? There's no tax dodging. He gets paid 100Mish per year and pays taxes on those amounts.
You don't get taxes on your stock appreciation until you sell.
Re: Warren Buffett's final shareholder letter [pdf]
#129Earlier quoted context omitted.
He's donated, already, the equivalent of 200+ billions USD (give or take 420M class B shares). Say what you want, but the list of billionaires who have donated such large amounts of money while still alive (or dead) is small. Cherry picking events like layoffs, without truly knowing how much was he involved (Berkshire directors notoriously enjoy lots of autonomy) or if the layoffs made sense, etc, seems a stretch whe…
If somebody focuses on something negative, it's cherry-picking, but if you focus on something positive it isn't? How much money has he saved dodging taxes over the years[1]? [1]: https://www.propublica.org/article/the-secret-irs-files-trov...
You lose by not playing the game, it doesn't mean you "like" it.
Re: Warren Buffett's final shareholder letter [pdf]
#130Earlier quoted context omitted.
> Let’s not forget Buffet also funded BYD significantly and is responsible for their growth, What is this weird nationalism? Investing in a company from a foreign country does not make you a bad (or good) person. There is no moral duty to make your own country the most economically powerful one.
> There is no moral duty to make your own country the most economically powerful one. No? Then why do we ask people to give their lives to make it a safe one?
That take says a lot about your perception of power.