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Warren Buffett steps down as Berkshire Hathaway CEO after six decades

latimes.com

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Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#71

Post by irishcoffee »

SecretDreams wrote: post #56
jacquesm wrote: post #55

Earlier quoted context omitted.

Actualy, he didn't. He's probably the one billionaire alive today for which you could not make that case. I know of one other (but he's dead).

> He's probably the one billionaire alive today for which you could not make that case. Is this Stockholm Syndrome?

You ever see Good Will Hunting? The scene where he talks about where he can “just play” and then describes the most talented people in history at what they do. That’s Buffett in his chosen life’s work.

Buffett didn’t get, for example, a small loan of a million dollars to start. He’s been working at this longer than probably anyone what will ever read this comment has been alive.

He doesn’t care about the money in the sense I feel you’re implying.

Nobody is perfect, and holding anyone to that standard sets an impossible threshold.

I don’t know how familiar you are with Warren Buffett, but I would encourage you to dig into his Wikipedia page at least, however accurate we think that is these days.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#72

Post by bdangubic »

borplk wrote: post #63
walthamstow wrote: post #10

Driving 7 minutes to work and stopping at a drive-thru to pick up McDonalds breakfast every day. The man is a true American hero.

His whole "I love fast food and coca cola" thing is a fake persona

if one is to make a fake persona, fast food and coke (the drink) probably won’t make top-100 list

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#73

Post by sharts »

kwanbix wrote: post #3

I will never undertand this people that live all their life working, when they clearly have the chance to retire much sooner. I will retire right away if I had 10 millions. Maybe 50 millions if I was younger than 40.

It provides purpose. Many people who retire early after doing all the random stuff they thought would be cool would likely find themselves isolated and decaying without purpose.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#74

Post by andrewaylett »

sporkxrocket wrote: post #37
abirch wrote: post #12

Earlier quoted context omitted.

“in the short run, the market is a voting machine… but in the long run, the market is a weighing machine.” Ben Graham

It seems like something is broken since TSLA (for example) has been completely divorced from fundamentals since at least 2020. The richest man in the world has the vast majority of his net worth derived from vaporware and straight up fraud. Still wondering when the "weighing machine" kicks in.

The market can remain irrational for longer than you can remain solvent.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#75

Post by wyldfire »

kwanbix wrote: post #3

I will never undertand this people that live all their life working, when they clearly have the chance to retire much sooner. I will retire right away if I had 10 millions. Maybe 50 millions if I was younger than 40.

For a lucky few of us, our job is something we might do unpaid if we had our needs addressed already. It's fun!

I like travel, I like relaxing at home. But I don't know if it's what I'd want to do all the time. I like having some pull, driving me towards a greater goal.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#76

Post by bdangubic »

abirch wrote: post #54
sporkxrocket wrote: post #37

Earlier quoted context omitted.

It seems like something is broken since TSLA (for example) has been completely divorced from fundamentals since at least 2020. The richest man in the world has the vast majority of his net worth derived from vaporware and straight up fraud. Still wondering when the "weighing machine" kicks in.

Unfortunately it's expensive to short Tesla because Elon and Peter Thiel don't allow their shares to be shorted. Add to that, it's part of the S&P 500. It's going to take a while but I foresee a lot of red for TSLA. We'll see what happens but TSLA is already revising their target of cars sold in Q4

investors have stopped looking at TSLA as a car company awhile ago so car sales will hardly move the price (downward)

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#77

Post by lumost »

RealityVoid wrote: post #7
kwanbix wrote: post #3

I will never undertand this people that live all their life working, when they clearly have the chance to retire much sooner. I will retire right away if I had 10 millions. Maybe 50 millions if I was younger than 40.

This is merely your failure to imagine it. Maybe they enjoy it, maybe they have a specific goal they want to achieve, have some sort of obsession, maybe they feel duty to all the people they lead and relie on them, think they are making the world better so they feel compelled to continue working, are mad with power and enjoy lording over other people. There are many many reasons why one would work after being financi…

It can also be as simple as finding meaning in the habit of work and the growth which may come with it. Nihilism and hedonism wear thin after a short while.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#78

Post by scotty79 »

ravenstine wrote: post #2

I wonder how this will affect BRK-B, given that so many investors (or at least the "retail " ones) buy its shares with the assumption that they provide exposure to Buffett's strategy. In any case, I hope Warren can experience not working at all in the few years he likely has left after being alive for over 1/3 of his country's existence!

There's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains.

Moment of fame stretched over 60 year of clipping coupons off of that initial fame.

The thing that made it possible was that he was content with his performance and never tried to one up himself. He kept his fame and market interest in him simmering over six decades inatead burning out in one bright flash.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#79

Post by kylecazar »

bsder wrote: post #58
Tade0 wrote: post #19

Earlier quoted context omitted.

The man has enviable health.

Wealth does that.

Also, consistently eating 1 item from McDonald's every day is probably not going to tank your health (if it's one of your few diet vices).

We've got people drinking 600 calorie frappucinos before they touch a bite of food.

Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades

#80

Post by SilverElfin »

I always see fawning comments when it comes to Warren Buffet. I think people need to examine more closely what his portfolio companies do and how they’ve been successful. Some of them are genuinely positive stories. But in other places, the truth isn’t so pretty. Look up how rail workers are treated by BNSF, for example. Like many ultra wealthy people who are caught up in evaluating companies solely on financial grounds, Buffet ignores what the impact of his choices are. And let’s be real - there isn’t any “fair competition” in many parts of the American economy to fix these problems. The railways are especially problematic because the infrastructure they own creates monopolies in regions.
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