Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Warren Buffett steps down as Berkshire Hathaway CEO after six decades

latimes.com

Post reply on HN
Print view View original

471–480 of 612 posts

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

#471

Post by tome »

tommy92 wrote: post #327
irishcoffee wrote: post #107

Earlier quoted context omitted.

> There's no Buffett's strategy. Market buys whatever Buffett's company bought. That's how he got unusual gains. That sure does trivialize him. If that was your goal, you nailed it. I personally don’t think that’s a fair take, but I’ve no interest in trying to change your mind.

Yes its the typical attitude than gives HN users a bad name. And this particular comment doesn't seem to have done beyond surface level research either on his investment works. Maybe not even surface level. Too much confidence too little works just empty words.

I've begun to call it (in my own head) "pessimissivism", a fatal combination of being pessimistic and dismissive. It can't be unique to HN, but I find it particularly jarring that it has taken root here, given the optimistic and open-minded origins of this forum.

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

#472

Post by zepolen »

_yb2s wrote: post #463
LUmBULtERA wrote: post #459

Earlier quoted context omitted.

Back-up cameras are really important for kids who can't be seen in a rearview mirror. Those can be retrofit into an older car, but after having a kid I can see why these became mandatory.

A well designed car and proper driving technique make a backup camera unnecessary. Many old cars have excellent rewards visibility without needing any camera- no camera will compare to a first generation Porsche Boxster with the top down for example, where you can directly see behind you by looking back. Volvo wagons are great like that also. I also, as a rule never back anywhere that I haven’t seen directly just a f…

No driving technique will let you see the toddler that ran to your rear wheel by the time you got into the car.

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

#473

Post by greenchair »

zepolen wrote: post #472
_yb2s wrote: post #463

Earlier quoted context omitted.

A well designed car and proper driving technique make a backup camera unnecessary. Many old cars have excellent rewards visibility without needing any camera- no camera will compare to a first generation Porsche Boxster with the top down for example, where you can directly see behind you by looking back. Volvo wagons are great like that also. I also, as a rule never back anywhere that I haven’t seen directly just a f…

No driving technique will let you see the toddler that ran to your rear wheel by the time you got into the car.

No backup camera will let you observe the nail the wind blew close to your tire to puncture it soon as you move the car. Perhaps it is best if I just stay home.

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

#474

Post by ksec »

_heimdall wrote: post #334
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.

Avoiding scaling your lifestyle with tour current wealth seems like an extremely important lesson people could learn here. Very few people know what "enough" means to them. Its probably worth noting that I mean "enough" in the context of consumption and physical goods. "Enough" wealth doesn't really matter, its only a number in a database or a piece of paper until you spend it.

>Very few people know what "enough" means to them.

Does this ultimately come down to Taste?

It is hard to judge what is enough. While a Civic is a perfectly good car, it certainly isn't the safest, nor does it have the best riding experience. Once you get into attention to details, what is "enough" often means mediocre.

I want "good enough" from a crazy perfectionist. Like Steve Jobs' Apple.

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

#476

Post by gpt5 »

Yokohiii wrote: post #465
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 think moralism is an side effect of the demise of spiritualism in the west. We somehow have to shape moral values, the lack of a framework for it makes it feel blunt and chaotic. That being said, I find it odd to moralize on moralism. We have way too many people in power that are awful humans and do a bad job and never get punished. Meanwhile, stealing a car because you are hungry can be the begin of a ruined life.…

The point is that moralism makes everyone blind and see in black and white.

Instead of seeing the nuance, you’d see everything that comes out of Elon Musk or Israel whoever you’ve managed to convince yourself is that current villain, as bad - without attention to details. More than that - you’d waste your time arguing whether they are “good” or “bad”, instead of focusing on specific actions, which is what society as a whole seems to enjoy seem to gravitate towards, and what increases polarization and reduce proper discourse.

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

#477

Post by JKCalhoun »

tstrimple wrote: post #441
JKCalhoun wrote: post #283

Earlier quoted context omitted.

That actually sounds pretty meager considering his wealth.

Funny how the goal posts shift. From modest house in Omaha to multi-million dollar property in Laguna Beach. If more properties are revealed are those "pretty meager" too? It's amazing the degree to which normal people will simp for billionaires.

Since I hadn't established any goal posts, I couldn't have shifted them.

But I get your point. I'm happy to make billionaires illegal by taxing them back to being millionaires, but to try and hoist Warren Buffet up as the problem ignores the much, much worst offenders out there.

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

#478

Post by JKCalhoun »

BuckRogers wrote: post #304
JKCalhoun wrote: post #277

Earlier quoted context omitted.

If you let fear dictate your life, you are correct.

You should. And you do too. Otherwise, you would’ve never looked both ways before crossing the street, and you would already be dead.

Your example seems to miss the point.

Of course I look both ways but I still cross the street.

I've watched people (friends included) who have let fear so overcome them that they frankly miss out on life. Won't travel, nervous about even leaving their home…

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

#479

Post by matwood »

toomanyrichies wrote: post #355
ronbenton wrote: post #285

Earlier quoted context omitted.

>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.

> 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…

> Are they truly happier, in the sense of being more content?

The biggest thing anyone can do in their life is figure out exactly what makes them happy, and spend their money there. Don't let society tell you. People on this site likely care about computers and spend a disproportionate amount of their money on them, and that's ok. I don't care about cars or TVs, but I care about experiences and comfort so will spend money on travel and upgraded plane tickets.

I also care about agency, so tend to save money rather than spend. I want the freedom it provides more than what it can buy - typically.

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

#480

Post by tialaramex »

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…

Right. This is why I believe we should not build statues of people, only of ideas.
Post reply on HN