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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

#261
post #167

Earlier quoted context omitted.

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

I’m familiar with this neighborhood. If this were my commute I’d probably walk often.

But:

It’s 42 minutes by foot one way, which is on the longer end for most people. About half of it is pleasantly walkable, the rest looking like no trees and along a busy street.

… For probably six months out of the year, the rest being too uncomfortably hot or windy/cold for most people.

And he’s probably wearing a suit and leather shoes every day, so you risk wet/muddy shoes, road salt, or dripping in sweat or rain. Mess up your hair with a hat in the winter.

And if you are going anywhere after, you’ll need a car anyway. The rest of Omaha is not walkable and quite hilly.

And he’s old, quite old. He’s been old for decades. Some people can do 3.6mi/day in their 50s-80s but most will not.

And his time value in literally among the… top ten in the world or so? And has been for decades?

I say all this as a relatively extreme walking advocate: for most people in some locales (including most of America), it just doesn’t make sense, and this criticism is very silly.

He’s Warren Buffet, so he could make this work if he wanted to. He could insist everyone come to him at his home while he wears pajamas.

But it’s not unreasonable to drive this commute.

And you can get a decent breakfast at McDonald’s too :D

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

#262
post #205

We 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…

The house he bought at 28 is 3500 square feet in a very very nice neighborhood and was worth $1.2 million a few years ago. It's humble by billionaire standards, not by average person standards. He never needed to size-up because of children, or size-down because of a bad economy, he was already set for both space and finances. Let's not create a moralistic myth out of his lack of need.

It's insanely humble by billionaire standards. Any FAANG SWE over 30 or so in the United States can get that. Contrast with multiple compounds, entire islands, etc.

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

#263

Earlier quoted context omitted.

> sort of obsession That doesn't sound very positive to me. Perhaps OP has a point

I am one of the person who, if they got 40 mil USD tomorrow, would just work much harder on stuff I like to work on (which is making open source software sustainable in robotics), because I would have to spend less time have to take care about the economics of daily life. I could get a chef to cook me personalized healthy meals. I could have a mini-gym at home (which is not that expensive to be honest). but I could g…

This is crazy to me. I almost think it’s rage bait but will give you the benefit of the doubt. The lifestyle you describe leaves no room for friends, relationships, or hobbies. Working 72 hours a week is not sustainable for anyone over the long term unless they truly have no interest in any of the three things I listed. That may be the case for you, but that’s exceedingly uncommon.

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

#264
post #205

We 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…

He said he would keep writing at least once a year.

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

#265

Earlier quoted context omitted.

Yes he did start with a "small loan of a million dollars"! Buffett started with 1.2 million dollars (105K in 1956) in investments from his family, i.e. his aunt, sister, and father in law. It is very nearly impossible to get rich without starting with a huge chunk of money, Buffett is no exception.

You should read his whole bio.

Don't get me wrong, I like him, he's a quick wit, it's just not true that he started with nothing, he started with a lot.

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

#266
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 are being hyperbolic.

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

#267

Earlier quoted context omitted.

I agree, however I don’t think the last two of your bullets are necessarily something to learn from on the surface.

Disagree. The last one is important. You can buy a bigger and bigger house car tv stereo whatever, but it will not make you happy.

Though Buffet has kept that first house, he also bought several others along the way.

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

#268

Earlier quoted context omitted.

I agree, however I don’t think the last two of your bullets are necessarily something to learn from on the surface.

Disagree. The last one is important. You can buy a bigger and bigger house car tv stereo whatever, but it will not make you happy.

It will if you have had four children after 28yo.

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

#269
post #167

Earlier quoted context omitted.

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

Any American worth that much is safer in a discretely armored car than on foot.

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

#270

Earlier quoted context omitted.

I agree, however I don’t think the last two of your bullets are necessarily something to learn from on the surface.

Disagree. The last one is important. You can buy a bigger and bigger house car tv stereo whatever, but it will not make you happy.

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