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Warren Buffett steps down as Berkshire Hathaway CEO after six decades

latimes.com

211–220 of 612 posts

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

#211
post #63

Earlier quoted context omitted.

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

Well, impossible to prove of course but it reminds me of Ingvar Kamprad (the man behind IKEA) who used to drive an old Volvo when in Sweden to appear as a "man of the people". In fact he had his main residence in Switzerland and was filthy rich which is a bit of a hard swallow especially in Sweden, a country still very much affected by the "Law of Jante". https://en.wikipedia.org/wiki/Law_of_Jante A reporter that was…

> he was a young Nazi back in the day

He remained a Nazi member well into the 1950s, which I find truly bizzare.

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

#212

Earlier quoted context omitted.

If you don’t have family or kids do not stop working.

And if you do have kids, the most profitable thing for your wife to do upon learning you won't be working any longer would be to divorce you, take 50%, impute your income for child support calculation at what you were earning before (so every 5 years you owe your full pre-tax salary). That way their quality of life won't be impacted nearly as much. So likely at least 8x your pre-tax salary (like 11 or 12x post tax) i…

You could stop working and lie for 5 years claiming you are employed and doing work stuff. Then the risk of this is over. But you should definitely have a prenup or a postnup if this isn’t possible.

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

#213
did warren buffets success help america or just his shareholders? How does the $350 billion cash concentration affect the economy and his businesses? I would think it would be better served redistributing it back into the economy to create opportunities for working class, so they can make a living wage, vs having multiple jobs and no savings or safety net.

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

#215

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.

By several accounts, Buffet has a "McGold" card - good for free food for life, at least at Omaha-area McDonalds locations.

Combined that with his "frugal" and "creature of habit" reputations, that might explain is morning routine.

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

#216
post #167

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.

Being genuine here - what is heroic about those two things?

I think they just meant it's very stereotypically american to drive a very walkable distance and eat McDonald's every day

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

#217

Earlier quoted context omitted.

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…

Have you ever read Elon's wiki? Or any other individual rich enough to curate whatever views they choose? 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…

Elon and Buffet are polar opposites.

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

#218

Earlier quoted context omitted.

I was responding to a comment that defended Buffet by saying he "argued for changing complex and unfair taxation". I'm saying if you have billions that could be spent on taking tangible action to change such taxation, simply "arguing for" changing it is not very impressive.

> if you have billions that could be spent on taking tangible action to change such taxation Do you have evidence he didn’t try? He’s been a prolific (albeit measured) donor to candidates who have pushed for this [1]. From what I can tell, Buffett enjoyed making money. He outsourced his philanthropy to Bill & Melinda Gates. Their focus has tended to be global poverty. [1] https://www.opensecrets.org/search?order=desc…

Those numbers are a pittance relative to his wealth. He could have established a foundation and given it hundreds of millions of dollars specifically to push for a more equitable taxation system. He did not do that.

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

#219

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).

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.

Fortunately, we have you to keep naive people like me in their place.

Happy New Year to you too.

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

#220
post #167

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.

Being genuine here - what is heroic about those two things?

Not just relative to other billionaires, relative to the average American, he never went after get rich quick schemes, has a reputation less dirty, values life-long relationships more, and fell to not one of so many traps and dynamics that see many successful people trash their own legacy.

The internet citizen is so often convinced that everyone with a high net worth is crooked, cheated to get where they are at, and would be even more morally corrupt if only they weren't so undeserving as to be incompetent of the ways to do so.

So often the ambitious can believe that to succeed one must perform ultra sexy acts of innovation multiplied by inhuman hours of naive young team members. This pressure can drive us to be impatient, reckless, and unscrupulous.

When we look at most startup CEOs who make it big, we say "don't try to emulate them" because we know they took huge risks and rolled at least a few good numbers. A person can emulate Warren Buffet. It's just patient and prudent, avoiding self-deception for decades. Yet it is excruciating. If not for Warren Buffet, so many would say, "It's not worth it" or "It will never work because you'll slip up."

Being at least an anecdote that being honest and right can work out in the long run is a herculean counterweight against the vast traps of cynicism that can lead many to defeat themselves before they even try. It's tough to keep going or commit to that path, especially as your options keep going up. Few else tried because it takes an entire lifetime. Making it work saved a lot of people from a lot of imprudent choices and will continue to save more. That is heroic.

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