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Warren Buffett

Observant1
edited May 3 in Other Investing
The Berkshire Hathaway annual meeting takes place today.
Warren Buffett announced he would step down as Berkshire Hathaway CEO at the end of 2025.
Mr. Buffett is idolized as one of the best long-term investors by many.
Berkshire Hathaway's investment portfolio often holds ample cash and avoids over-hyped stocks.
Due to its construction, the portfolio can lag the S&P 500 for extended periods during strong markets.
Would Buffett's acolytes have the discipline to hold sizable mutual fund/ETf positions which behaved similarly?

Comments

  • hank
    edited May 3
    Monumental …..

    From Politico - ”Warren Buffett shocked an arena full of his shareholders Saturday by announcing that he wants to retire at the end of the year … ‘I think the time has arrived where Greg (Abel) should become the Chief Executive office of the company at year end,’ Buffett said.”

    (Wow - Some scathing words for the direction of the U.S. in international affairs … )

    From Bloomberg - ”The announcement stunned the board and even Abel, who, while long signaled as Buffett’s successor, was unaware that the news was coming as the annual meeting drew to a close …”
  • CharlesCharles
    I've been aware of Warren as Berkshire CEO my whole adult life. Like all of us. So extraordinary. I think I admire him most for his continued modesty.
  • CharlesCharles
    Such contrast to other CEOs and billionaires today!
  • Observant1
    edited May 3
    Charles said:

    I've been aware of Warren as Berkshire CEO my whole adult life.
    Like all of us. So extraordinary.
    I think I admire him most for his continued modesty.

    He's very plain-spoken and there are no airs about him.
    I admire that as well.
  • CharlesCharles
    Yes!
  • rforno
    edited May 3
    End of an era, for sure. There won't be another Warren anytime soon.

    He got a standing ovation after the announcement, to which, in his typical folksy way, he told the crowd "That can be interpreted one of two ways..." lol
  • Sven
    edited May 4
    We have been long time Berkshire Hathaway investor. Always appreciate how he addresses the shareholders and others with respect and honesty, a rare trait among today’s CEOs. The former co-chairman, Charlie Munger, is equally admirable for all his wisdom that he freely shared with investors.
  • beebee
    Here is the entire list Sentra extracted from the book, A Few Lessons from Warren Buffett:
    1. Big opportunities come infrequently. When it’s raining gold, reach for a bucket, not a thimble.
    https://surfacearea.beehiiv.com/p/the-oracle-of-omaha
  • Observant1
    @bee

    Thanks!
  • hank
    edited May 4
    Observant1 said:

    @bee Thanks!

    +1

    @bee - Why wasn’t the one about swimming naked in there?
  • yogibearbullyogibearbull
    edited May 4
    Hear "You don’t find out who’s been swimming naked until the tide goes out" in this video, 4/25/1994
    https://buffett.cnbc.com/video/1994/04/25/buffett-you-dont-find-out-whos-been-swimming-naked-until-the-tide-goes-out.html

    For some reason, David Senra attributes that quote to Ted Turner in this X/Twitter link (see #10),
    https://x.com/FoundersPodcast/status/1729257647755399330
  • hank
    edited May 4
    Thanks Yogi. A quick web search seems to consistently turn up Buffett as the originator. Buffett also has about an 8 year advantage in longevity (ange 94) over the more youthful (age 86) Turner.

    I’ll go with Buffett until somebody proves me wrong.
  • masterd
    The announcement was not really a surprise. Greg has been running Berkshire for a while. He’s actually better suited for the job than Warren, because he’s an outstanding operator. Warren and Charlie avoided anything and everything that had to with operations. Warren focused on capital allocation and let the businesses manage themselves. Berkshire will still have a very decentralized structure, but there will be much more accountability under Greg’s leadership.
  • Sven
    Over the weekend, Berkshire announced:
    posted a lower operating profit in the first quarter, dented by insurance losses from wildfires and foreign currency changes
    https://finance.yahoo.com/news/berkshire-hathaways-operating-profit-falls-120831166.html

    Climate changes impact insurance business more than the past. In some states, disaster policy including wildfire and flood have became expensive, or being dropped completely. Insurance is a sizable part of Berkshire Hathaway.
  • Observant1
    Buffett's Biggest Hits and Misses
    https://www.msn.com/en-us/money/companies/what-warren-buffett-learned-from-his-biggest-hits-and-misses/ar-AA1E9vll
  • hank
    edited May 6
    11 of the greatest investors of all time

    I’ve scoured several lists. They all vary. But Buffett is always on them. I like that John Templeton is listed. But I would also have included Michael Price.

    Cathie Wood? LOL - How great do you have to be to lose 67% of your investors’ money in a single year? I could have done that.:)
  • Observant1
    "But I would also have included Michael Price."

    Mr. Price was a legendary value investor.
    I was invested in his Mutual Beacon or Mutual Shares fund in the mid 90s.
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