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(Marketwatch)   Warren Buffet is a mutual fund. Your 401k is invalid   (marketwatch.com) divider line 36
    More: Interesting, Warren Buffett, mutual funds, Berkshire Hathaway, shareholders' meeting, BRK, growth potential, Morningstar, Inc.  
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1790 clicks; posted to Business » on 05 May 2014 at 10:02 AM (24 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



36 Comments   (+0 »)
   
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2014-05-05 10:12:13 AM  
ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?
 
2014-05-05 10:22:33 AM  

sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?


The Buffett who I emulate invests more in cheeseburgers and margaritas.
 
2014-05-05 10:33:30 AM  
wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?
 
2014-05-05 10:43:39 AM  

sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?


Buffett was definitely not poor and had all the privileges that come with being a white, well educated son of a Congressman, but he did make his own money, from an early age. He really was bootstrappy, I don't think he inherited anything. Also to give him some credit, supposedly he was raised by his mom, who was by most accounts was a bipolar she-witch, that couldnt have been easy.
 
2014-05-05 10:49:46 AM  

sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?


Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.
 
2014-05-05 11:09:17 AM  

Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.


Math is hard.
 
2014-05-05 11:11:36 AM  

Danger Mouse: wondering if I should drop some cash into it?


I suspect Warren himself would say that, if you aren't closing in on million in investable assets, you should probably just contribute monthly to a no-load, very-low-fee S&P 500 fund (which will include a fair bit of Berkshire Hathaway).

Although, if you're ever going to start reading corporate annual reports, Berkshire's is a great folksy, readable, and not too MBA-jargon-filled way to start.
 
2014-05-05 11:13:47 AM  

max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.


Well the first three numbers were right.
 
2014-05-05 11:18:44 AM  

max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.


did I fark that up?
 
2014-05-05 11:29:53 AM  

MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.


Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.
 
2014-05-05 11:33:08 AM  

Danger Mouse: MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.

Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.


A billion is only one thousand million unless you happen to be british.
 
2014-05-05 11:38:14 AM  

threadjackistan: Danger Mouse: MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.

Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.

A billion is only one thousand million unless you happen to be british.


And from the past.
 
2014-05-05 11:42:42 AM  

threadjackistan: Danger Mouse: MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.

Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.

A billion is only one thousand million unless you happen to be british.


Farking stupid british.
 
2014-05-05 11:46:10 AM  

Danger Mouse: MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.

Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.


So what you're saying is you don't know the difference between a billion and a trillion. Even if you used the 'british' level of billion, assuming that exists, you'd have to correct buffett's worth to the other standard.
 
2014-05-05 11:48:31 AM  

bdub77: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Buffett was definitely not poor and had all the privileges that come with being a white, well educated son of a Congressman, but he did make his own money, from an early age. He really was bootstrappy, I don't think he inherited anything. Also to give him some credit, supposedly he was raised by his mom, who was by most accounts was a bipolar she-witch, that couldnt have been easy.



He inherited a 1000 acre farm from an aunt when he was like 13.

But that being said turning a couple million into 58billion is pretty impressive.  Usually to hit the billionaire mark you have to invent something like Gates, Jobs, etc.  to do it through specifically business investment is pretty impressive.
 
2014-05-05 11:59:11 AM  
Warren was not born to a poor family and he'll be the first one to tell you that. But when I look at the way he made his money I have to conclude he'd have ended up in the same place. Say what you want about him in his 80's but young warren simply assessed investments a lot better than his peers did. Politics aside he's one of the finest financial analysts we've ever seen.

You know who else can read the fark out of a balance sheet and a 10k? farking Carlos Slim.
 
2014-05-05 12:35:30 PM  

JohnBigBootay: Warren was not born to a poor family and he'll be the first one to tell you that. But when I look at the way he made his money I have to conclude he'd have ended up in the same place. Say what you want about him in his 80's but young warren simply assessed investments a lot better than his peers did. Politics aside he's one of the finest financial analysts we've ever seen.

You know who else can read the fark out of a balance sheet and a 10k? farking Carlos Slim.


I doubt Buffet would have even gotten into Wharton or been hired at his first Wall Street job without his dad being a Congressman/owner of brokerage firm.

When you are born on 3rd base, it easier to hit a home run.
 
2014-05-05 12:41:52 PM  
Remember that Warren Buffet has said something to the effect of "I like to buy companies that can be run by idiots, because eventually they are." Especially when you're dealing with Dairy Queen or Geico.
 
2014-05-05 01:09:31 PM  

The Evil That Lies In The Hearts Of Men: threadjackistan: Danger Mouse: MayoSlather: max_pooper: Danger Mouse: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Jimmy is only worth 400 million.  Waren is worth 58 billion.  That's 145,000 Jimmy Buffetts.

fark.

Math is hard.

Well the first three numbers were right.

Billion = 1 million million. (1,000,000,000,000).

58,000,000,000,000 /400,000,000 =145,000.

A billion is only one thousand million unless you happen to be british.

And from the past.


And poor at math.
 
2014-05-05 01:13:04 PM  
Buffet (Berkshire hathaway) IS a mutual fund.  Buffet basically bought the insurance company to serve as a source of investment capital.  Insurance companies collect premium today, but don't pay it out in claims for a couple years.  In the meantime they invest it.  Supposedly the IRS comes around every couple years and argues that BH is not an insurance company but rather an investment fund (which would significantly change how it's taxed).  Every time they do, Warren goes out and buys another insurance company to show them BH's really an insurance company.
 
2014-05-05 01:24:19 PM  

mcreadyblue: I doubt Buffet would have even gotten into Wharton or been hired at his first Wall Street job without his dad being a Congressman/owner of brokerage firm.

When you are born on 3rd base, it easier to hit a home run.


Nevertheless by this time there have been tens of thousands of offspring of congress people. Probably hundreds of thousands of sons of investment guys and who knows how many wharton grads. Warren seems to have bested them all by a substantial margin. I'm not mistaken his own wealth easily eclipsed that of his father before he was thirty. Warren didn't just hit a home run. He became Babe Ruth.
 
2014-05-05 02:09:53 PM  

mcreadyblue: JohnBigBootay: Warren was not born to a poor family and he'll be the first one to tell you that. But when I look at the way he made his money I have to conclude he'd have ended up in the same place. Say what you want about him in his 80's but young warren simply assessed investments a lot better than his peers did. Politics aside he's one of the finest financial analysts we've ever seen.

You know who else can read the fark out of a balance sheet and a 10k? farking Carlos Slim.

I doubt Buffet would have even gotten into Wharton or been hired at his first Wall Street job without his dad being a Congressman/owner of brokerage firm.

When you are born on 3rd base, it easier to hit a home run.


Maybe not.

But he would have been insanely successful at whatever he put his mind to.

He's that kind of personality.
 
2014-05-05 02:41:59 PM  

Another Government Employee: But he would have been insanely successful at whatever he put his mind to.


Right, just like Michael Jordan is just so athletic, he'd be completely successful at any sport he tried.
 
2014-05-05 03:20:11 PM  
mcreadyblue:

When you are born on 3rd base, it easier to hit a home run.


You don't bat from third base.
 
2014-05-05 03:21:50 PM  

mcreadyblue: JohnBigBootay: Warren was not born to a poor family and he'll be the first one to tell you that. But when I look at the way he made his money I have to conclude he'd have ended up in the same place. Say what you want about him in his 80's but young warren simply assessed investments a lot better than his peers did. Politics aside he's one of the finest financial analysts we've ever seen.

You know who else can read the fark out of a balance sheet and a 10k? farking Carlos Slim.

I doubt Buffet would have even gotten into Wharton or been hired at his first Wall Street job without his dad being a Congressman/owner of brokerage firm.

When you are born on 3rd base, it easier to hit a home run.


I believe that if Donald Trump would have sold his father's company when it was given to him and invested that money in a SP500 fund, he would be worth considerably more now than he actually is.

/just saw an opportunity to shiat on that buffoon
 
2014-05-05 04:47:46 PM  

sure haven't: Another Government Employee: But he would have been insanely successful at whatever he put his mind to.

Right, just like Michael Jordan is just so athletic, he'd be completely successful at any sport he tried.


I always wondered how he would have done had he only been a baseball player.  His stint in baseball was essentially his mid-life crisis (after his father's murder) and he was fairly successful for someone starting in his 30's.

Another comparison is Paul Newman as a race driver.  Truly talented and successful when he could put his full energy into it.  But acting was more lucrative.
 
2014-05-05 04:49:50 PM  

TheManMythLegend: bdub77: sure haven't: ftfa: "who lay claim to investing "like Buffett,"  "

You mean coming from wealth?

Buffett was definitely not poor and had all the privileges that come with being a white, well educated son of a Congressman, but he did make his own money, from an early age. He really was bootstrappy, I don't think he inherited anything. Also to give him some credit, supposedly he was raised by his mom, who was by most accounts was a bipolar she-witch, that couldnt have been easy.


He inherited a 1000 acre farm from an aunt when he was like 13.

But that being said turning a couple million into 58billion is pretty impressive.  Usually to hit the billionaire mark you have to invent something like Gates, Jobs, etc.  to do it through specifically business investment is pretty impressive.


He was also taught by (and worked for??) Benjamin Graham, who is/was widely regarded as one of the best investors of his time (i.e., the warren buffet of his time).

Don't get me wrong. There was A LOT of hard work, and Buffet has the knack for the job, but he also had many, many, things to help steer him in the right direction.
 
2014-05-05 05:16:11 PM  

Another Government Employee: sure haven't: Another Government Employee: But he would have been insanely successful at whatever he put his mind to.

Right, just like Michael Jordan is just so athletic, he'd be completely successful at any sport he tried.

I always wondered how he would have done had he only been a baseball player.  His stint in baseball was essentially his mid-life crisis (after his father's murder) and he was fairly successful for someone starting in his 30's.

Another comparison is Paul Newman as a race driver.  Truly talented and successful when he could put his full energy into it.  But acting was more lucrative.


Jordan batted .202 and sucked as a basketball coach.

Natural talent always outshines hard work and athleticism.
 
2014-05-05 05:44:56 PM  

mcreadyblue: Jordan batted .202 and sucked as a basketball coach.


He was also a terrible front office executive and draft advisor. He may have been marginally better at baseball if that had been his primary focus but I doubt it. There's a few exceptionally tall outfielders who were good hitters - but there ain't many of them. If this is the fark I know and love someone will now refute my point by showing me a list of like three guys in fifty years who were good hitters that were as tall as Jordan.

/dave winfield
 
2014-05-05 06:34:32 PM  

Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?


The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.
 
2014-05-05 07:32:50 PM  

Alonjar: Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?

The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.


Any investor worth his salt would never make such an asinine statement.
 
2014-05-05 08:21:08 PM  

suburbanguy: Alonjar: Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?

The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.

Any investor worth his salt would never make such an asinine statement.


Any investor worth his salt would just buy brkb which is the same farking thing but it does not cost 180k.
 
2014-05-05 08:24:30 PM  

JohnBigBootay: suburbanguy: Alonjar: Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?

The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.

Any investor worth his salt would never make such an asinine statement.

Any investor worth his salt would just buy brkb which is the same farking thing but it does not cost 180k.


Which is part of my point.
/BRK.B owner
 
2014-05-05 09:39:53 PM  

Lawnchair: Danger Mouse: wondering if I should drop some cash into it?

I suspect Warren himself would say that, if you aren't closing in on million in investable assets, you should probably just contribute monthly to a no-load, very-low-fee S&P 500 fund (which will include a fair bit of Berkshire Hathaway).

Although, if you're ever going to start reading corporate annual reports, Berkshire's is a great folksy, readable, and not too MBA-jargon-filled way to start.


Warren does actually say that. He even says he himself uses S&P 500 index funds and says his will is going to leave his assets mostly in a S&P 500 Vanguard index fund.
 
2014-05-05 10:41:15 PM  

suburbanguy: JohnBigBootay: suburbanguy: Alonjar: Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?

The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.

Any investor worth his salt would never make such an asinine statement.

Any investor worth his salt would just buy brkb which is the same farking thing but it does not cost 180k.

Which is part of my point.
/BRK.B owner


Well, I am happy to team up with you in making that point.

BTW - I love warren's yearly letter and look forward to reading it every year. I don't own any brka or b myself (I'm an index guy myself) though I might if he wasn't as old as methuselah. The investments will still be rock solid but the days after he dies will be interesting for shareholders I'd wager.
 
2014-05-06 04:32:50 AM  

JohnBigBootay: suburbanguy: JohnBigBootay: suburbanguy: Alonjar: Danger Mouse: wow. Look at the 5 year growth of BRK.A


Of course buying stock at $180,000 per share is not for everyone. Bu then again BRK.B  did just as well.  wondering if I should drop some cash into it?

The $180,000 per share price tag is irrelevant in modern investing... any brokerage worth its salt will sell you partial shares.

Any investor worth his salt would never make such an asinine statement.

Any investor worth his salt would just buy brkb which is the same farking thing but it does not cost 180k.

Which is part of my point.
/BRK.B owner

Well, I am happy to team up with you in making that point.

BTW - I love warren's yearly letter and look forward to reading it every year. I don't own any brka or b myself (I'm an index guy myself) though I might if he wasn't as old as methuselah. The investments will still be rock solid but the days after he dies will be interesting for shareholders I'd wager.


I'd expect there will be plenty of buying on any post-Buffett dip. I'm willing to put money on Buffett knowing what the fark he's doing when it comes to ensuring that the company is in fact rock solid without him (if maybe not enjoying quite so many sweetheart deals). At any rate, he and Munger aren't likely to go at the same time, so I'd guess that will temper/illuminate market reaction.
 
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