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.
Warren Buffett steps down as Berkshire Hathaway CEO after six decades
231–240 of 612 posts
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#232So, best investor ever? (Not counting people who built enterprises, just people whose trade was to invest.)
I plan to buy some BRK stock. I’m sure it will be a good investment. But also, somewhat sentimentally, just to own a part of a financial masterpiece.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#233Earlier quoted context omitted.
What would warrant an exception? I generally don’t like billionaires either, but I wouldn’t put Buffet at the top of my shit list just for curating a public persona.
There are couple of artists for example that had managed to become near- or full billionaires. Of course I do not know the details but in my view this warrants an exception
Do artists who make business deals also warrant an exception?
https://www.penguinrandomhouse.com/books/180675/trump-the-ar...
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#234Here 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...
Buffett's Alpha: http://docs.lhpedersen.com/BuffettsAlpha.pdf tldr; he was leveraged with good stocks
“””Whether it’s socks or stocks, I like buying quality merchandise when it is marked down”””. Buffet, BH annual report 2008
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#235We 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…
I appreciate this viewpoint. Thanks for sharing.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#236Earlier quoted context omitted.
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.
Here comes the internet doing internet things. Happy 2026.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#237Driving 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?
It's just a sarcastic take. I wouldn't read into it too much. If it didn't make you grin like a goofball, it failed and you should just move on to the next comment.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#238Berkshire stock could fall 99% and he would still have outperformed the S&P. Insane.
How do you figure? The portfolio looks to have performed roughly the same as the S&P.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#239Earlier quoted context omitted.
If it's undervalued it should be worth more, no?
Is Intel undervalued? Should Intel be worth more? Intel is an example of a company that I had in mind.
When people say undervalued in this context, they usually mean it has a low price to earnings ratio. Intel is definitely not that - although it could still be a good bet if you have reason to believe their fortunes will greatly improve in the future. But it wouldn’t be a Buffett target in its current state.
Re: Warren Buffett steps down as Berkshire Hathaway CEO after six decades
#240Earlier quoted context omitted.
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)
You don’t have time to do those things if you are poor and working 2-3 jobs. Properly budgeting and analyzing costs takes a lot of time, and unexpected expenses and cost of living increases destroy your budget a lot more than McDonald’s.
Most poor humans managed to store food for the winter prior to the industrial revolution avoid overeating and draining their stores. I'm sure the poor 2-3 job worker can meal prep with cheap easy meals.