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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

#411

Post by jimnotgym »

danielmarkbruce wrote: post #35
jimnotgym wrote: post #21

Earlier quoted context omitted.

I agree with you. There are so many more worthwhile things to do than investing. I would also retire immediately with that kind of money and focus on creating real value in the world

That's a very selfish take. For folks with the ability to make truckloads of money and then give it away to good causes, that is going to be the best choice v trying to add value in the world to make themselves feel better.

That is some logic twisting there.

> For folks with the ability to make truckloads of money

Make it? Like actually invent and build stuff? Or just harvest money from others because you have the capital?

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

#412

Post by tjwebbnorfolk »

twodave wrote: post #243
sethev wrote: 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…

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

His inspiration is a big reason why I still drive my 1993 Honda Civic after owning it for 15 years. I bought it for $1000 after graduating college. I say a little prayer every time I turn the key that it actually starts. I gave it its own github repo where I track the maintenance I do on it. It reminds me where I come from, and that I don't need shiny shit to be happy. I believe this to be a virtue.

My girlfriend years ago thought it was incredible and amusing that I was working a fancy tech job and drove this old car around. We are now happily married.

These days, I could buy a Bentley with cash. But I don't need one.

Warren Buffet's example is an inspiration that should be followed by more people who go into debt buying crap they can't afford with money they don't have in order to look rich.

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

#413

Post by tjwebbnorfolk »

ronbenton wrote: post #285
rhubarbtree wrote: post #248

Earlier quoted context omitted.

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.

>You can buy a bigger and bigger house car tv stereo whatever, but it will not make you happy. Well that seems like an assumption! Plenty of people are happier with nicer things. I don't think we need to tell people what should make them happy.

I'm happy right after I eat ice cream too. Doesn't make it a good lifestyle.

Before you go on about how saying it's "good" or "not good" is a value judgement that I'm not entitled to make -- you're damn right it is, and I'll do what I want.

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

#414

Post by simgt »

pm90 wrote: post #366
toomanyrichies wrote: post #355

Earlier quoted context omitted.

> Plenty of people are happier with nicer things. Are they truly happier, in the sense of being more content? Or are they just deriving more temporary pleasure from the hedonic treadmill they're on? You can probably tell which one it is, by how long their happiness with their house / car / TV / fill-in-the-blank lasts, before they start thinking about trading up to an even nicer fill-in-the-blank. Buddhist monk Matth…

This is a deeply personal decision and I categorically reject any kind of moralization around frugality.

It's a bit more than just a personal decision. Overconsumption is ruining our environment, which we collectively have to share.

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

#416

Post by tjwebbnorfolk »

sethev wrote: 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…

Sure -- but as far as idols go, you could do a lot worse than Mr. Buffett

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

#417

Post by [deleted] »

sethev wrote: 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…

[deleted]

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

#418

Post by beegeezuz »

tjwebbnorfolk wrote: post #412
twodave wrote: post #243

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.

His inspiration is a big reason why I still drive my 1993 Honda Civic after owning it for 15 years. I bought it for $1000 after graduating college. I say a little prayer every time I turn the key that it actually starts. I gave it its own github repo where I track the maintenance I do on it. It reminds me where I come from, and that I don't need shiny shit to be happy. I believe this to be a virtue. My girlfriend yea…

[dead]

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

#419

Post by tjwebbnorfolk »

mschuster91 wrote: post #409
EliRivers wrote: post #407

Earlier quoted context omitted.

"He still lives in the same home he bought when he was 28 years old." Good for him. Big savings right there. Buying/selling/moving house can cost a fortune.

... which makes the need for rent control and renter protection laws obvious. When people have the "choice" between paying their landlord 5k more just because the landlord can or spending 5-10k on finding a new home and moving, landlords have all the cards.

Somebody needs to get out of the city.

SF and NYC are the only two places in the US where rent control makes any sense whatsoever. And it's to solve a problem that was largely created... by rent control.

Once you start you can't stop.

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

#420

Post by jedberg »

mvkel wrote: post #293

Berkshire's investment in Apple is responsible for ~50% of its portfolio success in the last 20 years. The rest is insurance. Respect to the man for running an operation for 60 years. That's a helluva feat that deserves a lot of admiration. Still surprised at HN's glazing of someone whose life's mission was to make a number go up and to the right via insurance packages.

> Berkshire's investment in Apple is responsible for ~50% of its portfolio success in the last 20 years.

And by all accounts, that investment was suggested by his son. He famously said that he didn't understand technology enough to invest in it.

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