Author Topic: Buffett's legacy  (Read 6750 times)

Ballinvarosig Investors

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Re: Buffett's legacy
« Reply #10 on: May 27, 2020, 03:13:28 AM »
Its becoming clearer that the buyback program is in place for the next guy.
Agree. If Buffett was to leave, or die tomorrow, then I think the stock is likely to go on a tear from where it is.

  • The stock is clearly cheap on a historical basis, just to revert to mean there is upside there alone.
  • Whoever comes in after Buffett is likely to step on the gas with regards to buybacks, which Buffett has always seemed to be cagey about.
  • One of the big factors few people talk about is Buffett's 31% stake unwinding. Once that unwinds, there is going to be an automatic bid from index funds which are float adjusted which will be required to buy more Berkshire as Buffett's estate sells

Buffett's stake is going to take a LONG time to unwind, but once it starts happening, I expect Berkshire to go on a generational charge, a bit like Microsoft did when Bill Gates took his stake from 24% to 1% today. Berkshire is obviously not as good a business as Microsoft, but it's still quite strong. I could easily see Berkshire providing a 15% annualised return over the 10 years from after Buffett dies.


cherzeca

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Re: Buffett's legacy
« Reply #11 on: May 28, 2020, 02:49:04 PM »
WEB's genius is to use simple examples to make important points.  my favorite is the 20 hole punchcard.  it is one thing to say have a strong filter to sort out opportunities, and another to say, here, take this punchcard and this is all of the investments you can make in your lifetime. a photographer once told me to try the exercise of taking only one shot a day.  in a digital world, this is crazy...crazy smart, as is WEB

villainx

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Re: Buffett's legacy
« Reply #12 on: July 28, 2020, 04:44:00 PM »
Buffett (and Munger) famously said he reads a bunch of newspaper.  I pretty much never read the newspapers, .  Am I missing something?  Are there things in particular they focus on?

Parsad

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Re: Buffett's legacy
« Reply #13 on: July 28, 2020, 05:12:09 PM »
Buffett (and Munger) famously said he reads a bunch of newspaper.  I pretty much never read the newspapers, .  Am I missing something?  Are there things in particular they focus on?

I love newspapers.  I read at least two a day in print, and one online.  You have to sift through what is in the newspaper...weed out pertinent articles and those that provide little value.  It gives a very good perspective of what is happening in the world around you, and a very broad view of the world, business, science, technology, life, sports, entertainment...you name it! 

A book can provide useful information, but it may not be relevant or relate to the state of the world around you.  Hand in hand, books and newspapers provide a broad base of knowledge, and you never know which will come in handy on any given day, at any given point of time.  Cheers!
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Vish_ram

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Re: Buffett's legacy
« Reply #14 on: July 29, 2020, 06:37:51 AM »
Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

nickenumbers

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Re: Buffett's legacy
« Reply #15 on: July 29, 2020, 08:01:17 AM »

I love newspapers.  I read at least two a day in print, and one online.  You have to sift through what is in the newspaper...weed out pertinent articles and those that provide little value.  It gives a very good perspective of what is happening in the world around you, and a very broad view of the world, business, science, technology, life, sports, entertainment...you name it! 

A book can provide useful information, but it may not be relevant or relate to the state of the world around you.  Hand in hand, books and newspapers provide a broad base of knowledge, and you never know which will come in handy on any given day, at any given point of time.  Cheers!

Thanks for the posting Parasad.  I read lots of books, but not a lot of newspapers.  I do skim WSJ about 2 times per week.  Parasad, what newspapers do you usually read?
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stahleyp

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Re: Buffett's legacy
« Reply #16 on: July 29, 2020, 11:02:50 AM »
Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.

Paul

longterminvestor

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Re: Buffett's legacy
« Reply #17 on: July 29, 2020, 01:53:16 PM »
Mr. Buffett loves his business.  He doesn't love money.....because he has enough.

BG2008

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Re: Buffett's legacy
« Reply #18 on: July 29, 2020, 02:04:33 PM »
Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.

I'm going to agree with Stahleyp here.  If you read Snowball, it is very obvious that Buffet is a subpar father.  Then there's the tidbit about how he would invite people to come visit and stay with him.  When people show up with their family from out of town, he wouldn't spend anytime with him.  He loves showing up his intellect, especially to females.  Alice talks about how his wife got jealous because he was showing off his intellect on the private jet.  Buffet was a klepto in his late teens.  I think one of his sons had a bit of klepto streak during his teens.  Peter Buffet gives talks about growing up a Buffet.  I think he really always want to carve out his own niche for his own work and not that he's Warren Buffet's son. 

Bill Brewster has talked about this quite a bit on Toby's podcast. 

John Hjorth

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Re: Buffett's legacy
« Reply #19 on: July 29, 2020, 02:54:02 PM »
Buffett's greatest legacy is about how to live ones life to the fullest. How to not let money go into your head, change your traits, habits, virtues etc.

He was able to keep a healthy distance to money and not let it rule his life.

When Gandhi was asked, what is your message? he replied "My life is my message". The same thing probably applies to Buffett too.

Dude, he didn't let it rule his life? His wife left him and his kids talked about how distant he was growing up.

I'm going to agree with Stahleyp here.  If you read Snowball, it is very obvious that Buffet is a subpar father.  Then there's the tidbit about how he would invite people to come visit and stay with him.  When people show up with their family from out of town, he wouldn't spend anytime with him.  He loves showing up his intellect, especially to females.  Alice talks about how his wife got jealous because he was showing off his intellect on the private jet.  Buffet was a klepto in his late teens.  I think one of his sons had a bit of klepto streak during his teens.  Peter Buffet gives talks about growing up a Buffet.  I think he really always want to carve out his own niche for his own work and not that he's Warren Buffet's son. 

Bill Brewster has talked about this quite a bit on Toby's podcast.

BG2008,

Can't we let this go? I, for one is a person, that'll never finish reading the "Snowball" through [from start to finish.] [I suppose I never will]. In short, Mr. Buffett is [after all] a male human being - not some kind of [male] saint -, with all the implications related to that.
In the race of excellence there is no finish line.
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