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Buffett on David Winters/Wintergreen

scott
in Off-Topic
"BUFFETT ON DAVID WINTERS

WHEN DAVID WINTERS WHO RUNS A FUND THAT HAS UNDERPERFORMED BY EVERY MEASURE FROM INCEPTION, FIVE YEARS, ONE YEAR AND WHO DRAWS A 150 BASIS POINT FEE WHEN YOU CAN GO TO VANGUARD AND DO IT FOR 17 BASIS POINTS AND HE COMPLAINS ABOUT COMPENSATION NOT BEING COMMENSURATE WITH PERFORMANCE AT COKE. AND THEN HE HAS THAT KIND OF RECORD HIMSELF, I THINK HE'S A FELLOW LIVING IN AN ALL-GLASS HOUSE."



Sorry about the all caps, copied from CNBC page - which was all caps.

http://www.cnbc.com/id/102468796#.

Comments

  • [Deleted User]
    The user and all related content has been deleted.
  • [Deleted User]
    The user and all related content has been deleted.
  • scott
    edited March 2015
    Maurice said:

    Must be something else deeper going on between the two men. Why else ask the question?

    Winters (foolishly, in my opinion - literal David vs Goliath and in this instance, there was no way David was going to get Goliath to budge, given David's AUM/shares held, complete waste of time and money by Winters) tried to go activist on Coke and didn't go very far.

    If I remember correctly, he publicly scolded Buffett once or twice in regards to Coke (Winters made a big stink about selling his shares in Berkshire due to this situation, I didn't think Warren could give two ****s and now it's quite clear that's the case), where Buffett is on the board and I'm pretty sure remains the largest shareholder. Buffett has been kind of quiet about it on previous appearances, but this time the gloves came off.

    Winters, meanwhile, hasn't really gotten anything out of this activist fight aside from being verbally wrecked by Buffett, which isn't exactly good for reputation.

  • David_Snowball
    They were having a slap-fight over Berkshire's stake in Coca-Cola, on whose board Winters sits.

    David
  • CharlesCharles
    Bravo!
  • BenWPBenWP
    Concision is a gift, David.
  • Old_JoeOld_Joe
    Is that like circumcision?
  • MourningStars
    Mr. B's son Howard is a board member of CoCa-Cola.
  • BrianW
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