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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

#101

Post by user3939382 »

Aarostotle wrote: post #91
yndoendo wrote: post #52

Earlier quoted context omitted.

Sorry, a person who life is built around greed is no hero.

A man who built what he loves and produced so much surplus value for the rest of us to enjoy (read: profit) is _exactly_ a hero. I’m sure I could find ways critique him, but not in the context of celebrating his career.

Art vs artist debate is tired, as is celebrity distance appraisal. If you want to know if someone is good or bad your best bet (still iffy) is to ask their kids or spouse. That’s he’s skilled at the financial game is obvious. Whether that’s valuable is a philosophical question that has little to do with Warren Buffet.

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

#103

Post by user3939382 »

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!

Last I heard he had a couple guys working for him who sound extremely smart and explained it’s almost impossible to beat the S&P but they try.

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

#104

Post by medlazik »

jacquesm wrote: post #55
yndoendo wrote: post #52

Earlier quoted context omitted.

Sorry, a person who life is built around greed is no hero.

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).

It's fascinating how even smart people like you become so utterly naive when it comes to politics. This guy partly owns some of the most evil companies humanity has ever created ffs. Zero ethics, 100% capitalist greed.

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

#105

Post by zeroonetwothree »

paxys wrote: post #81
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!

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.

BRK and VOO have a correlation of 0.7 over the past 5 years. That's high enough that they have been relatively similar, but not so high that I would really say it "tracks" it.

Of course, no one knows the future so who knows if this will continue.

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

#106

Post by chistev »

senthil_rajasek wrote: post #8

Here is a fantastic farewell message that Seth Klarman wrote on Buffett's retirement for The Atlantic, How Buffett did it? https://web.archive.org/web/20250000000000*/https://www.thea...

That link isn't loading up for me.

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

#107

Post by irishcoffee »

scotty79 wrote: post #78
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.

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

That sure does trivialize him. If that was your goal, you nailed it.

I personally don’t think that’s a fair take, but I’ve no interest in trying to change your mind.

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

#108

Post by huflungdung »

yndoendo wrote: post #52
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.

Sorry, a person who life is built around greed is no hero.

[dead]

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

#109

Post by bawolff »

yndoendo wrote: post #52
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.

Sorry, a person who life is built around greed is no hero.

He made his billions by figuring out who were worthy people to give money to.

He's not exactly curing cancer but i could think of a lot more underhanded ways to make billions. I think he is above average ethically relative to his billionaire peers.

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

#110

Post by bc569a80a344f9c »

Aarostotle wrote: post #91
yndoendo wrote: post #52

Earlier quoted context omitted.

Sorry, a person who life is built around greed is no hero.

A man who built what he loves and produced so much surplus value for the rest of us to enjoy (read: profit) is _exactly_ a hero. I’m sure I could find ways critique him, but not in the context of celebrating his career.

> A man who built what he loves and produced so much surplus value for the rest of us to enjoy (read: profit) is _exactly_ a hero.

Life imitates art, I suppose.

https://www.newyorker.com/cartoon/a16995

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