Warren Buffett steps down as Berkshire Hathaway CEO after six decades

Post by jonemi » Thu, Jan 01, 2026, 4:37 AM UTC

TehCorwiz wrote: post #255

sethev wrote: post #205

We should never idolize a person (in my opinion). Here are some things Buffet has done that I admire (notice that phrasing): - He consistently communicated with shareholders of Berkshire in a straight-forward and transparent way in his letters and annual reports. If you read these documents, I believe that you will have a solid understanding of how he built Berkshire. - He maintained a disciplined approach to investi…

The house he bought at 28 is 3500 square feet in a very very nice neighborhood and was worth $1.2 million a few years ago. It's humble by billionaire standards, not by average person standards. He never needed to size-up because of children, or size-down because of a bad economy, he was already set for both space and finances. Let's not create a moralistic myth out of his lack of need.

Post by TehCorwiz » Thu, Jan 01, 2026, 4:42 AM UTC

jonemi wrote: post #311

TehCorwiz wrote: post #255

Earlier quoted context omitted.

The house he bought at 28 is 3500 square feet in a very very nice neighborhood and was worth $1.2 million a few years ago. It's humble by billionaire standards, not by average person standards. He never needed to size-up because of children, or size-down because of a bad economy, he was already set for both space and finances. Let's not create a moralistic myth out of his lack of need.

For reference, this is the house: https://en.wikipedia.org/wiki/Warren_Buffett#/media/File:Dun...

Post by brcmthrowaway » Thu, Jan 01, 2026, 4:46 AM UTC

WaxProlix wrote: post #262

TehCorwiz wrote: post #255

Earlier quoted context omitted.

The house he bought at 28 is 3500 square feet in a very very nice neighborhood and was worth $1.2 million a few years ago. It's humble by billionaire standards, not by average person standards. He never needed to size-up because of children, or size-down because of a bad economy, he was already set for both space and finances. Let's not create a moralistic myth out of his lack of need.

It's insanely humble by billionaire standards. Any FAANG SWE over 30 or so in the United States can get that. Contrast with multiple compounds, entire islands, etc.

Post by jonemi » Thu, Jan 01, 2026, 4:49 AM UTC

TehCorwiz wrote: post #313

jonemi wrote: post #311

Earlier quoted context omitted.

For reference, this is the house: https://en.wikipedia.org/wiki/Warren_Buffett#/media/File:Dun...

That's a very misleading photo. An aerial view shows the multiple large buildings much better. https://presidenthouse.org/entry-18

Post by bigthymer » Thu, Jan 01, 2026, 4:51 AM UTC

tim333 wrote: post #159

jimnotgym wrote: post #13

I read somewhere that Bershire Hathaway had sort of finished it's mission. 40 years ago there were lots of large companies who were very 'inefficient' and BH would come along, invest a lot, and start demanding changes. Company performance would improve and BH would make big $$$$. Now there are few of these and it is hard to do. I don't know enough to know whether it is right or wrong. but I think that is what I read.

That wasn't their main thing. The main one was to buy stocks or companies for less than they were worth, either because the market mispriced them or because company owners wanted to retire and sell to Berkshire. They also were big into insurance float which is getting insurance premium money that doesn't have to be paid out for a while which provides a kind of free leverage. Buffett did a lot of other things too.