141–150 of 612 posts
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.
Sorry, a person who life is built around greed is no hero.
Idk how that can be considered a “life centered around greed”
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Buffet is not a good guy. Our society’s greatest problem right now is concentrated corporate power being used to destroy the ability of working people to prosper. Buffet had an active and direct role in making this happen. He supported and advocated for monopoly, and profited from it. He lived a lavish life that included opulent mansions and private jets, and used his resources to deftly drive a media narrative of hi…
It's very obvious that some of the lesser plutocrats have public PR campaigns now. Zuck obviously got a stylist too.
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.
I know one anecdote is not data, but his investment in BYD all the way back in 2008 does counter that viewpoint somewhat - his investment success in the BYD case isn’t from other investors following him in, it’s from him identifying BYD as a successful company far before any other major investors did.
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Sorry, a person who life is built around greed is no hero.
I respect Buffett greatly on a professional level, and think it's the height of arrogance to believe any one of us personally has the moral right to decide which level of lawful activity becomes turpitudinous greed. THAT SAID... My uncle (he's 98) had a passing acquaintance with Buffett during their overlap at Penn, and in the one econ class they shared, he remarked having heard Buffett say in almost salivating eager…
Edit: Some people seem to be misunderstanding me. I'm saying if he thought taxation was unequal or thought wealth inequality was a problem, he could have used his wealth specifically to fight against billionaires like himself, not just give money towards generic charitable causes.
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.
Sorry, a person who life is built around greed is no hero.
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> 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…
Warren buffet did good and he came up with a winning strategy. Momentum was ultimately his friend and what drove his success. When ETFs are great today and their popularity largely because of Warren, I think a lot of what's increasingly becoming obviously wrong with the markets ties back to the original strategy behind ETFs.
There's no more self selection or focus on fundamentals. All pensions are now exposed and regular contributors to the markets, so winner and losing picking doesn't really exist in the same way and performance is no longer tied to reality. I dread what that means as populations stagnant since it puts some risk on future pensions and their somewhat ponzi-esque structure.
All the pessimistic rants aside - it's insane to refer me to a billionaire's wiki as an attempt to get to know them. I largely look at people based on how they might treat family, friends, strangers, etc. In that regard, I'm mixed.
Berkshire stock could fall 99% and he would still have outperformed the S&P. Insane.
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!
BRK is now (since the last 10-20 years) large and diversified enough that it more or less tracks the S&P 500 and the overall stock market. There isn't some genius trading strategy in there. Buffett himself tells everyone who will listen to buy and hold a diversified index fund for a long period of time.