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The New Coffee Room

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  3. Buffett retiring

Buffett retiring

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  • HoraceH Offline
    HoraceH Offline
    Horace
    wrote last edited by
    #1

    Warren Buffett announced today in the annual Berkshire Hathaway investor's meeting that he'll be stepping down at the end of the year. Tariffs came up a lot in the Q&A, and he was predictably sour on them. Not a fan of unilaterally declared economic world wars. That gets a +1 from me. Just IMHO.

    https://www.msn.com/en-us/money/companies/warren-buffett-says-hell-step-down-as-berkshire-hathaway-ceo/ar-AA1E6GLz?ocid=BingNewsSerp

    The announcement came as he warned that the United States shouldn't use "trade as a weapon" and anger the rest of the world like President Trump has done with his tariffs that roiled global markets.

    "It's a big mistake in my view when you have 7.5 billion people who don't like you very well, and you have 300 million who are crowing about how they have done," Buffett, 94, said as he addressed the topic on everyone's mind at the start of the shareholders meeting.

    Education is extremely important.

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    • HoraceH Offline
      HoraceH Offline
      Horace
      wrote last edited by Horace
      #2

      I recently bought a bunch of BRK stock. It'll be interesting to see what happens to it Monday. I'm not too worried, as I guess his departure has been mostly priced in. He's 94.

      Hm, actually they announced a huge earnings miss in the meeting, so I guess Monday may be sad.

      Education is extremely important.

      taiwan_girlT 1 Reply Last reply
      • jon-nycJ Online
        jon-nycJ Online
        jon-nyc
        wrote last edited by
        #3

        Apparently he got a 10m standing ovation.

        You were warned.

        1 Reply Last reply
        • MikM Offline
          MikM Offline
          Mik
          wrote last edited by
          #4

          Yeah, he made a lot of sense.

          “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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          • HoraceH Horace

            I recently bought a bunch of BRK stock. It'll be interesting to see what happens to it Monday. I'm not too worried, as I guess his departure has been mostly priced in. He's 94.

            Hm, actually they announced a huge earnings miss in the meeting, so I guess Monday may be sad.

            taiwan_girlT Offline
            taiwan_girlT Offline
            taiwan_girl
            wrote last edited by
            #5

            @Horace said in Buffett retiring:

            I'm not too worried, as I guess his departure has been mostly priced in.

            One of my favorite quotes from him: (something like)

            We try and invest in companies that do well, such that an idiot could run them. Because, it is inevitable that at some point, an idiot will.

            555

            1 Reply Last reply
            • 89th8 Offline
              89th8 Offline
              89th
              wrote last edited by
              #6

              @taiwan_girl ha that is great. He also has pragmatic advice that if you don't know what the company does that you're investing in, you shouldn't invest. For example... Coca Cola? Easy, they make drinks (etc) and sells them. A new AI or crypto company? He steers clear.

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              • jon-nycJ Online
                jon-nycJ Online
                jon-nyc
                wrote last edited by
                #7

                Ok now I’ve seen it all. A fucking crypto boi accusing Buffett of not adding any real value to the real economy. A cryptofuck.

                You were warned.

                MikM 1 Reply Last reply
                • jon-nycJ Online
                  jon-nycJ Online
                  jon-nyc
                  wrote last edited by
                  #8

                  Great reminder from Tim Carney on how to spell Buffett.

                  Buffet has six letters like ‘eating’

                  Buffett has seven letters like ‘wealthy’.

                  You were warned.

                  1 Reply Last reply
                  • jon-nycJ jon-nyc

                    Ok now I’ve seen it all. A fucking crypto boi accusing Buffett of not adding any real value to the real economy. A cryptofuck.

                    MikM Offline
                    MikM Offline
                    Mik
                    wrote last edited by
                    #9

                    @jon-nyc said in Buffett retiring:

                    Ok now I’ve seen it all. A fucking crypto boi accusing Buffett of not adding any real value to the real economy. A cryptofuck.

                    What a maroon.

                    “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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