alt Hacker NewsBuffett to step down following six-decade run atop Berkshire
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He's 94 years old, it's honestly impressive he was still there. Still, end of an era.
I’m not sure if it’s originally his but a small talk by him about getting a car made an impression on me and since watching it it’s become a good motivator to stay in shape.
This seems like a good moment to share it.
Buffet on Tariffs
> “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done - I don’t think it’s right, and I don’t think it’s wise,” Buffett said. “The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago. There’s not been anything like it.”
Buffett worked, at least informally, with the Obama administration on some financial policy issues. And he is a proponent of greater taxes on the very rich. Here's one short video (2:46) in which he talks about it:
Wow, not sure why this surprises me, but I guess I figured he would be like Charlie and keep working until he passed.
I always run across great quotes from Warren Buffett, but I never spent any time actually reading any of his writings or anything written about him. What's the best place to start to absorb some of his wisdom? Anything that's applicable to startups, tech, and life in general, beyond being the CEO of a holding company?
94 years of age isn't too bad for someone who is a legendary Coke drinker - five cans a day!
https://markets.businessinsider.com/news/stocks/warren-buffe...
He dropped the mic and left the stage.
How much of Berkshire actually relied on Buffet toward this announcement? I'm increasingly suspect of 90+ or 80+ adults operating the machinery of massive entities. Lots of examples of this.
Conventional wisdom (which I believe) is that long term individual investors do not beat the market. However, from my mostly-uniformed view, Buffett did exactly that. What was his "secret"? Did he build most of his wealth outside the market?
Nice paper that was linked on Marginal Revolution: http://docs.lhpedersen.com/BuffettsAlpha.pdf
It's kind of a damn shame a man like that was not tapped for any major economic position in the government. I don't know how men like Peter Navarro got so far. In a sense, all the money in the world didn't actually fulfill his true potential, and I say that with the utmost respect.
Someone at my firm went to a BH AGM. There’s literally nothing like it; it’s like a Star Trek con, but for capitalism.
For all I've heard about WB the last few decades, I couldn't tell you a single thing he's done that's impacted my life, the country, or the world. AFAIK he's a guy who makes a ton of money, plays bridge with Bill Gates, gives advice, and has a fund that made money for other people. Am I missing something?
Buffett's father, Howard Buffett, was perhaps the most libertarian congressman in U.S. history.
He was also a vehement opponent of foreign military intervention, including military aid:
"Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns. Persuasion and example are the methods taught by the Carpenter of Nazareth, and if we believe in Christianity we should try to advance our ideals by his methods. We cannot practice might and force abroad and retain freedom at home. We cannot talk world cooperation and practice power politics."
And now after decades of stock buybacks, quantitative easing and other mad financial manipulation, comes again the time for value investors, and he leaves?! :)
The Mahathir bin Mohamad of the financial world
All that money and he's still a mortal just like the rest of us. I wonder if mega billionaires like him have done private research on life longevity, cryosleep, mind-upload, etc. It's the only useful thing they can do with that much money that directly benefits them. Anything else (legacy, influence, children, etc.) doesn't benefit them when they're gone.
https://archive.ph/zXRmj