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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

#601

Post by jart »

leogao wrote: post #548
jart wrote: post #305

Earlier quoted context omitted.

BRK has a beta of 0.7 (meaning it's less volatile than the market) because a third of it is just cash (probably because they want to buy the blood in the next crash like they did in 2000) so I'm curious why you wouldn't just keep that part of your portfolio in cash like he does? Now me personally I think that strategy is kind of dated because the dollar has lost 39% of its value over the last twelve months because it…

where are you getting this 39% figure? inflation in 2025 was only 2.7%.

What are you going off? CPI? For thousands of years gold has been the benchmark of currencies. For example you can read the Code of Hammurabi from Ancient Babylon where they used gold and silver as their currency, and then convert the figures mentioned in their laws. You'd be surprised by how invariant everything seems. https://justine.lol/inflation/ CPI isn't a trustworthy indicator. The government can't tell the truth about inflation because retirees all own TIPS so the government would have to pay them obscene amounts of money if the official numbers went up, which it can't afford, because the whole reason the government is debasing the currency in the first place is to pay for all the other benefits it gives to retirees.

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

#602

Post by bigthymer »

hn_throwaway_99 wrote: post #362
bigthymer wrote: post #319

Earlier quoted context omitted.

I think over the last few decades, he could make deals just because the Buffett name held so much influence. If Buffett was investing, then others could assume that the company won't go bankrupt.

That's certainly part of it, but in the "buying mispriced assets" category, Buffer made some very smart, large bets. During the Great Financial Crisis, BH made a $5 billion investment in Goldman Sachs that eventually made them billions in profit when everyone else was running for the hills.

I actually think this is a deal only Buffett could have made. By bringing on Buffett as an investor, it sent a signal to the market that the bank was solvent and improved confidence in the company. Another investor would not have brought the same calm so would not have had the same return even if they bought the same amount at the same time.

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

#603

Post by conductr »

zwnow wrote: post #599
conductr wrote: post #596

Earlier quoted context omitted.

FWIW Nobody I know sees me rent these cars. I usually do it while on vacation. They’re fun to drive, so it’s closer to an occasional hobby than a complete change of my lifestyle

I dont judge, you are free to do however you please, but dont act like renting expensive car is a normal human thing to do and has nothing to do with bragging about how much money you have. Its a rich person hobby.

Still feels like you're blowing it out of proportion and are judging my hobby and reading into my post as braggadocios (which it was meant to be very matter of fact and kind of the opposite if you read any of it besides what I admitted to as my indulgence). Very average income/wealth people have hobbies that cost them a couple thousand dollars a year and we all choose our own hobbies. I don't golf and there are millions of golfers that spend the same or perhaps way more as an example. I don't drink alcohol and I would guess a large portion of US adults spend more annually on beverages than I do on that one "hobby". Damn near everyone travels and that's essentially a hobby. Plenty of people go deep sea fishing or whale watching on rented yachts. I could go on but are you judgmental on their "rich person hobby" like you are of mine?

Edit: I rarely do this with HN but I'm getting troll vibes from you and so I clicked on your comment history where you lay out your unfortunate financial situation in a comment ("I have 500€ in my bank account, 3k debt and 30 years of work left ahead of me") and it all makes sense that you are just resentful or jealous. My only constructive advise is you should try not to have this attitude on HN, there are plenty of wealthy or good-to-know people here and any chance conversation could turn into something that shifts your life's trajectory. If the breadcrumbs show that you're just a troll you're basically building a wall between you and those people.

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

#604

Post by zwnow »

conductr wrote: post #603
zwnow wrote: post #599

Earlier quoted context omitted.

I dont judge, you are free to do however you please, but dont act like renting expensive car is a normal human thing to do and has nothing to do with bragging about how much money you have. Its a rich person hobby.

Still feels like you're blowing it out of proportion and are judging my hobby and reading into my post as braggadocios (which it was meant to be very matter of fact and kind of the opposite if you read any of it besides what I admitted to as my indulgence). Very average income/wealth people have hobbies that cost them a couple thousand dollars a year and we all choose our own hobbies. I don't golf and there are milli…

[flagged]

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

#605

Post by BuckRogers »

JKCalhoun wrote: post #478
BuckRogers wrote: post #304

Earlier quoted context omitted.

You should. And you do too. Otherwise, you would’ve never looked both ways before crossing the street, and you would already be dead.

Your example seems to miss the point. Of course I look both ways but I still cross the street. I've watched people (friends included) who have let fear so overcome them that they frankly miss out on life. Won't travel, nervous about even leaving their home…

Looking both ways is letting fear dictate your life, at least enough that it changes your behavior in major ways. Fear is an important component of staying alive. Fear not dictating your life means not looking and expecting everyone to stop for you.

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

#606

Post by BuckRogers »

Nevermark wrote: post #342
BuckRogers wrote: post #302

Earlier quoted context omitted.

But you can do that without any money.

> You can buy a bigger and bigger house car tv stereo whatever > But you can do that without any money. Well... Material things can contribute to happiness, or detract. Balancing the things we spend our life on, relative to an understanding of what makes us happy, is going to be an idiosyncratic exercise. Assuming that X won't contribute to the happiness of person Y is some deep projection. There seem to be many kind…

Very disingenuous answer. That's not what I was responding to. I was responding to this-

There are a lot of aspects to being happy, and having to not want for things certainly helps.

I would give you a better answer here but it appears you thought misquoting the conversation was clever so I'll simply leave you corrected.

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

#607

Post by conductr »

zwnow wrote: post #604
conductr wrote: post #603

Earlier quoted context omitted.

Still feels like you're blowing it out of proportion and are judging my hobby and reading into my post as braggadocios (which it was meant to be very matter of fact and kind of the opposite if you read any of it besides what I admitted to as my indulgence). Very average income/wealth people have hobbies that cost them a couple thousand dollars a year and we all choose our own hobbies. I don't golf and there are milli…

[flagged]

You just explained why you shouldn’t be here and aren’t contributing positively to the discussion. You’re being a troll.

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

#608

Post by danielmarkbruce »

jimnotgym wrote: post #411
danielmarkbruce wrote: post #35

Earlier quoted context omitted.

That's a very selfish take. For folks with the ability to make truckloads of money and then give it away to good causes, that is going to be the best choice v trying to add value in the world to make themselves feel better.

That is some logic twisting there. > For folks with the ability to make truckloads of money Make it? Like actually invent and build stuff? Or just harvest money from others because you have the capital?

It's not logic twisting, it's just acknowledging the difference between doing good and feeling good.

As for "harvesting" - call it what you want - he is taking a truckload of money out of the financial system and giving it to worthy causes.

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

#609

Post by enjeyw »

tim333 wrote: post #155
enjeyw wrote: post #144

Earlier quoted context omitted.

I used to share a somewhat similar sentiment. 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.

Minor nit - it was Charlie Munger who identified and argued for BYD.

Oh I didn’t know that! Thanks for the clarification.

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

#610

Post by zwnow »

conductr wrote: post #607
zwnow wrote: post #604

Earlier quoted context omitted.

[flagged]

You just explained why you shouldn’t be here and aren’t contributing positively to the discussion. You’re being a troll.

Authentic people shouldn't be here? Interesting.
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