Subject: Buffett/Gold. Idiot Threads overall
Buffett was not “dead WRONG on gold”. Warren did not short gold. If he DID— he would have been dead wrong. He did not buy gold. He did not buy, what, 95-99% of the companies in the country? He didn’t swing at those pitches because there are no called strikes. He was not wrong. He’s selective.

He DID bet this generational ranch on Apple? How did that work out? In fact, “All-in” Warren is batting close to 1.000. In life. And in investing:

Generational investment pre-Apple he went All-in Coca Cola. How did that work out?

Generational investment pre-Coke he went All-in American Express. How did that work out?

Generation investment pre American Express: there are no generations.

As for people he went All-in; Charlie Munger, Ajit Jain, Don Keough, Tom Murphy. 1.000 batting average my math.

Raising children 1000% success.

To the silliness here about PILOT J—that’s chump change! We own 200 companies, sheesh. Pilot J is not an all-in investment. As for David Sokol—Buffett NEVER said SOKOL was in line for CEO. It was rumored and falsely assumed he was the pick . Buffett said that was NEVER determined. Sokol WAS in line as a candidate and was being observed along with Ajit Jain and previously Lou Simpson—and possibly others. But you say Buffett made a character mistake there?!! Sokol was NEVER HIRED. And never more than “in the running”. Once character was confirmed— Warren made the right character choice.

LOTS of Berkshire investments are MEDIOCRE or worse . Lots of hires are mediocre —or worse. That’s the nature of this mega long term business. This does not preclude extraordinary results overall.

Getting it right WHEN YOU RARELY GO ALL-IN. This is what Warren has preached. And DELIVERED.

I’m starting to feel I AM a pretty good judge of character, or brains, or etiquette. I notice 100% of the idiot threads here—don’t have a visible original post. Maybe I’m psychic? The first post in these nauseating, endless threads always start with “re:… “. That’s the good part. The bad news is—these threads attract, by far, the most responses.

Hope everyone has a Happy Thanksgiving..