Warren Buffet is a HYPOCRITE


everyone knew this right?

This is a really retarded article

Most executives like that are magnetic people who have a talent to make people like them. Warren is the same. You usually don’t become one of the richest people by sticking to selfless values and doing what’s right for other people. Of course, you have to PR people into thinking that, so they trust you and give you power and money.

WB is a sleazy capitalist and a hero. no one ever made a billion by being the nice guy.

What Nerdy said, this article is first rate retarded, courtesy of a founder of his own PE firm that is invested in a crypto company he made up and one set of apartments presumably his parents bought and about a year of solid work experience.

He’s advocating higher taxes, but he’s made clear he’s not going to overpay beyond regulation. He also has a thing called fiduciary duty to his shareholders, so its moronic that he would avoid his fiduciary moral responsibility to maximize shareholder returns within the current legal system, regardless of his personal opinion. Beyond that, he’s committed to give virtually his entire wealth to charity on his death and stated that he’s currently managing it to maximize the gain for charities. All while giving multi-billion dollar donations away to things like the Gates Foundation and living frugally.

Warning people repeatedly that derivatives are dangerous and should be avoided in excess scenarios is not the same as advocating for higher costs and burgeoning or poor regulation. I want people to drink responsibly, I don’t want moronic regulation or breathalyzer between rounds at the bar.

The WF point, also dumb. He admitted the company which he is a minority shareholder in, had misaligned incentives but also said it’s a good investment. He literally never claimed to be a moral savior, where’s the hypocrisy?

Similar thing with 2008 bailout, companies he was a minority holder in took a bailout money, great story. Shocking.

Skimmed it, pretty stupid. It is just looking to take aim at the king for clicks.

I did see a link to a Propublica article that they sourced that is interesting, below. It seems like BRK could reduce costs by leveraging economies of scale on the defined contribution side. I understand being hands off with portfolio companies, but a better 401k plan is a perk that could be used to attract better employees and is just good business. It makes me wonder if they all have separate business costs (IT, insurance, office supplies, etc.) or if they negotiate the contracts collectively to drive lower pricing.

"On the index fund front, there’s a big difference between the S&P 500 index funds that employees of Berkshire-owned NetJets, General Re, GEICO, FlightSafety, Clayton Homes and H.H. Brown Shoe Group can buy, and the one that BoatU.S. employees can buy. BoatU.S. employees pay a fee of 0.62 percent, or $62 a year for a $10,000 investment. That’s more than 15 times the 0.04 percent — $4 a year per $10,000 — that employees of the six other Berkshire companies pay.

There are also some big differences in fees among the actively managed funds that Berkshire companies make available. Employees of Business Wire pay a 0.5 percent ($50 per $10,000 invested) for shares in American Funds’ EuroPacific Growth Fund, while employees of Applied Underwriters, Jordan’s Furniture and MiTek pay 1.14 percent ($114 per $10,000).

As a longtime Berkshire shareholder, a contrarian from birth and someone who’s watched Buffett for more than 40 years, I was intrigued when Fried approached me. And I was shocked at the huge differences among the plans that emerged when I did my own digging."

I was at the BRK investor conference last year and this was brought up. He acknowledged that he advocates for low cost indexing, but insisted that they avoid micromanaging and leave this decisions to the individual management teams. I get the criticism and apparently he does, but it seems his rule about letting good management teams run takes precident.

yep co’s are independently run for the most part. much like how you own stocks. but obviouslty he can exert control, if he feels the need to do, but generally he prefers not to. lol

I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts. John D. Rockefeller Read more at: https://www.brainyquote.com/quotes/john_d_rockefeller_165070