Author Topic: Famous economist who is/was a brk shareholder  (Read 3618 times)

alwaysinvert

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Famous economist who is/was a brk shareholder
« on: February 13, 2010, 08:27:47 PM »
Quote
And it's rather interesting because one of the greatest economists of the world is a substantial shareholder in Berkshire Hathaway and has been for a long time. His textbook always taught that the stock market was perfectly efficient and that nobody could beat it. But his own money went into Berkshire and made him wealthy. So, like Pascal in his famous wager, he hedged his bet.
- Charlie Munger


Could anyone enlighten me to who this might be? Eugene Fama?


treasurehunt

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Re: Famous economist who is/was a brk shareholder
« Reply #1 on: February 13, 2010, 09:15:42 PM »
Paul Samuelson.

This 1998 article from Forbes mentions that Samuelson is an investor in Berkshire: http://www.forbes.com/forbes/1998/1012/6208110a_print.html

alwaysinvert

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Re: Famous economist who is/was a brk shareholder
« Reply #2 on: February 13, 2010, 09:46:16 PM »
Thank you very much :) Some old saying containing the words "money" and "mouth" seems appropriate here...

twacowfca

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Re: Famous economist who is/was a brk shareholder
« Reply #3 on: February 14, 2010, 07:05:23 AM »
Sadly, Paul Samuelson passed away last December.  Interestingly, he owned Ford in the 1960's & 70's.  It was incomprehensible to him why they didn't do better than GM during that era.  He failed to appreciate the simple economics of the industry at that time.  Ford was much more innovative than GM, but GM whipped the competition because they were the low cost domestic producer with their much greater economies of scale.

CFA Omaha

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Re: Famous economist who is/was a brk shareholder
« Reply #4 on: February 18, 2010, 01:18:49 PM »
Harry Markowitz?
« Last Edit: February 18, 2010, 01:25:23 PM by CFA Omaha »