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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

#431

Post by andsoitis »

wahnfrieden wrote: post #325
creato wrote: post #309

Earlier quoted context omitted.

Maybe he just likes building things that others find useful. When I was younger I rented furniture from a company called CORT. I happened to notice on the contract or receipt or something, that it was a Berkshire company (I didn't know that before then). If I were Warren Buffet, I would have been happy to know that someone was a satisfied customer of one of his companies. I got some decent furniture for a few months…

What has he built

> What has he built

He took Berkshire Hathaway, a struggling textile company, and transformed it into one of the largest and most successful conglomerates in history.

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

#432

Post by rTX5CMRXIfFG »

tjwebbnorfolk wrote: post #416
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

It's OK to have someone to look up to and have an example to follow, but why do you need to have an idol?

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

#433

Post by skjadhs »

rTX5CMRXIfFG wrote: post #432
tjwebbnorfolk wrote: post #416

Earlier quoted context omitted.

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

It's OK to have someone to look up to and have an example to follow, but why do you need to have an idol?

Some people just do

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

#434

Post by vouwfietsman »

g947o wrote: post #346
TehCorwiz wrote: post #255

Earlier quoted context omitted.

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.

If you compare that with Zuckerberg, Buffett is a saint without question.

Question: does it make you a saint if you don't spend money lavishly when you have it? Note: its only about not spending it, not about donating or otherwise using it for an ethical purpose.

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

#435

Post by zwnow »

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…

> Our society has become moralistic

Which is extremely important. It's important to call out highly immoral behavior and lifestyles. Being a billionaire by itself is highly immoral. These people sleep like babies while people starve to death.

> He consistently communicated with shareholders of Berkshire in a straight-forward and transparent way in his letters and annual reports.

We praising for the bare minimum now?

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

#436

Post by zwnow »

conductr wrote: post #391
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.

The last one is key to my entire value system as a person. I have had some financial wins in life and try not to let it impact my day to day. I avoid, sometimes with great effort, flashy things (I’ve been tempted to by exotic cars as an example but have found if I just rent one for a day or two that urge goes away, it’s just a toy to me). I usually say I’m not materialistic, but I am at times, and what I strive to be…

> I’ve been tempted to by exotic cars as an example but have found if I just rent one for a day or two that urge goes away, it’s just a toy to me

> I don’t want other people seeing me as flaunting wealth

Lmao.

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

#437

Post by itake »

agnosticmantis wrote: post #388
walthamstow wrote: post #10

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.

He shamelessly advertised companies in his portfolio, whether it was always having a can of coke or candies on the table or stopping at a McDonald's in a documentary. I refuse to believe that his lifestyle was what was on display. He lived in the same house for 60 years, sure, but his private jets kept getting upgraded. Good for him, but I find the frugality theater very off putting.

I don't know the details, but large personal residences tax your brain (as well as your bank account).

Instead of spending hours of his life negotiating RE purchases, maintaining his properties, cutting checks to plumbers, doing renovations, etc. (that I hear many other billionaires do), he was practical with his (luxury) purchases focusing on time saving (living near work, fast food, private jet) and the experience (luxury vacation).

If you don't appreciate that, I think you're missing the point of his frugality.

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

#438

Post by ymyms »

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…

Driving a car that old puts yourself and others on the road at greater risk due to lack of safety features compared to a modern car. One could argue being able to afford a new car and not buying one to extoll other virtues is neglecting your own and communal good.

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

#439

Post by tstrimple »

theonething wrote: post #318
JKCalhoun wrote: post #271

Earlier quoted context omitted.

It's true (I live in Omaha). He is still in the same house. I didn't grow up here—my wife did. Very early on, when I first visited Omaha, she drove me by his place. After three decades or so in California, I retired and we moved back to her hometown. Buffett is still there.

Like anyone can just drive up to his house? Doesn't seem safe for such a high profile billionaire's residence to be so accessible.

Wait until you learn about the Hollywood Hills! I'm so excited for you.

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

#440

Post by tstrimple »

JumpCrisscross wrote: post #170
csb6 wrote: post #167

Earlier quoted context omitted.

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

> what is heroic about those two things? America threw off a king and founded a republic. Equality is a founding value and one we still respect. A rich man keeping his habits despite his wealth, and doing so next to the rest of us, is a role model for other up and comers. (The Romans had a similar thing about pastoral farmers. Every culture has its myth, and we like it when those in power try to live up to it.)

> Equality is a founding value and one we still respect.

Easily stated by someone who was not a slave. Equality had fuck all to do with the founding of this country. Some people were *literaly* slaves. You *literally* could not vote unless you were a male land owner. Fuck this nonsense propaganda. Every bit of freedom in this country had to be fought for against this country and against the majority of white men. And we are still far, far from equal. Not until the vote of a Californian for President is equal in weight to someone from Wyoming. Not until the systemic structural advantage for white men in rural areas is eliminated. It's just such fucking bullshit to preach equality when our entire history has been a counter example.

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