541–550 of 612 posts
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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?
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I respect Buffett greatly on a professional level, and think it's the height of arrogance to believe any one of us personally has the moral right to decide which level of lawful activity becomes turpitudinous greed. THAT SAID... My uncle (he's 98) had a passing acquaintance with Buffett during their overlap at Penn, and in the one econ class they shared, he remarked having heard Buffett say in almost salivating eager…
People buying a house also hope for a dip in the market so they can buy in cheaper.
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…
What does “living” mean in this case? That can mean absolutely nothing. I travel a lot (and probably Buffet too), and tax authorities would have a headache with what should I pay and to whom if I reported it completely to them when and where I am. In the country where I officially live I’m maybe 20-30%. There is no other countries with more. The simple case of 50%+1 days is nowhere near. In Buffet case, it can be even less. 10 years ago I had a different pattern. I wasn’t at home but in the same country (in the case of the US, like a state) at random places like 80-90%. So does Buffet really live there, like properly?
remember this was a guy picking stocks in the middle of nowhere - Omaha Nebraska using just Newspapers, Annual Reports and a phone. With the power of conviction.
not internet like we have to do or "A.I" - yet he built the largest conglomerate known to man
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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…
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> Rich guy has a job so easy he works until old age. How would you know how difficult his job is? It's not easy to run a company, let alone a hugely successful one responsible for a vast amount of assets. > Never made anything, just leant money to companies that weren't as rich as him and his cronies, to get a share of profits for doing nothing. Providing capital to companies helps them grow which in turn helps add v…
Not particularly him. It annoys me that people go on about how amazing it is that certain people can do their job for so long. Yet his job is not hard on his body, like a labourer. It doesn't carry the same pressure as a business owner who has remortgaged his house and must succeed. If BH went bankrupt, I'm sure it would be embarrassing, but he would still be rich, housed and be able to eat. I am honestly suspicious why these people can't let go and let someone else have a go
Dang, I hope you don't mind me explaining myself a bit? It was meant to explain my earlier comment, since you obviously found it rather bitter
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BRK is like a conservative S&P500. It offers enough diversification off the "total market" funds for me that I invest a small but material portion of my "safe money" with them. Sort of like holding boring dividend stocks without the dividend.
BRK has a beta of 0.7 (meaning it's less volatile than the market) because a third of it is just cash (probably because they want to buy the blood in the next crash like they did in 2000) so I'm curious why you wouldn't just keep that part of your portfolio in cash like he does? Now me personally I think that strategy is kind of dated because the dollar has lost 39% of its value over the last twelve months because it…
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Please don't post cynical or curmudgeonly comments to Hacker News. We're trying for something different here. https://news.ycombinator.com/newsguidelines.html
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I'll play along, so here is the counterpoint. The article remarks on end of an era during which he transformed a failing textile mill into a global conglomerate valued at over $1 trillion. So he never made anything? Wrong, textile mills make things. Elsewhere in the comments someone links BuffettsAlpha.pdf This explains that they used a 1.6-to-1 leverage refers to the estimate of the average amount of borrowed capita…
I think all of the hardest times in my management career have been dealing with investors/owners etc. 'Professional Investors' and PE have been some of the worst, because they tend to be extremely opinionated, whilst simultaneously demonstrating their contempt for the people doing the actual job, and their naivety in how things are actually done. Perhaps that has made me jaded. I never had the same problems with staff, customers and suppliers.