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.
also incredible that america is safe enough for a billionaire to do this alone without security
Warren Buffett steps down as Berkshire Hathaway CEO after six decades
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Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#222Earlier quoted context omitted.
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.
It's not that hard to see evil in everyone and it doesn't make one that much smarter
Yeah let's give the billionaires the same benefit of the doubt we give our friends & family & working-class people.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#223Earlier quoted context omitted.
> 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.
> He could have established a foundation and given it hundreds of millions of dollars specifically to push for a more equitable taxation system
You want another billionaire to create a super PAC?
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#224His YouTube series “Secret Millionaire Club” is great for kids.
Buffett and Munger were both great teachers and entertainers.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#225Earlier quoted context omitted.
His whole "I love fast food and coca cola" thing is a fake persona
if one is to make a fake persona, fast food and coke (the drink) probably won’t make top-100 list
Berkshire Hathaway holds over 9% of Coca Cola's shares, worth $28 billion and returning over $800 million a year in dividend payments. Isn't that worth being seen visibly supporting Coca Cola products?
https://3.bp.blogspot.com/-xXwAtQqkN6c/XM3Brj-ZkuI/AAAAAAAAv...
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#226Earlier quoted context omitted.
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…
In his youth he was heavily inspired heavily by the book "1000 ways to make 1000 dollars", quite literally a get rich quick book.
Also his bets on GEICO were probably a little impatient, reckless, and unscrupulous, but that's fine.
He is one of the finest businessmen to study and certainly one of the more moral billionaires.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#227Earlier quoted context omitted.
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.
I didn't know that, talk about being late to the party.
On a tangent I also found this recently about Le Corbusier:
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Research from the last decade, primarily from a series of books published in 2015 and released correspondence, has confirmed that the influential modernist architect Le Corbusier was a fascist and antisemite with ties to the Nazi-collaborationist Vichy regime in France.
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He wanted to build this in Stockholm in 1933:
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#228Earlier quoted context omitted.
If he was poor, people would call him lazy for eating mcdonalds everyday...
Poor people should properly budget and cook at home to avoid staying poor If you can afford to eat McDonald's nobody cares (well it's not healthy either but that's a different matter that doesn't really have to do with being poor or not)
> Poor people should properly budget and cook at home to avoid staying poor
You can't budget your way out of being poor. Most actually poor people (as opposed to people who have a substance abuse problem) I know have a very good grasp of their budget as they are constantly shifting money around figuring out which bills they have to pay and which bills they can put off.
You get out of being poor by getting more money. Period. Nothing else works.
Yes, more money doesn't guarantee you get out of being poor, and we all know people who got a windfall and then were worse off than before.
However, insufficient money absolutely does guarantee that you will be poor indefinitely.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#229did 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.
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Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#230I 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.
Berkshire had a pivot where, decades back, Munger convinced Buffett to switch from investing in bad companies at a great price to good companies at a good price. Their new strategy is still active. That said, the turnaround 'mission' you mention about still happens, but is more associated with private equity than Berkshire.
Not quite right. The pivot was from good companies at a great price to great companies at a good price (unless you can get a great price, but that’s unlikely).
Over the long run the latter is a better and more scalable strategy.