Invite ye felawes and frendes desirous in gold to enter the gates of Shrewd'm, for they will thanke ye later.
- Manlobbi
Halls of Shrewd'm / US Policy❤
No. of Recommendations: 49
and thanks for all you have done.
Cheers
No. of Recommendations: 19
The following is from my online broker’s newsletter.
DJ Warren Buffett Turns 95 Today. 10 of His Biggest Investing Lessons. -- Barrons.com
Andrew Bary
Warren Buffett celebrates his 95th birthday on Saturday -- marking a milestone of longevity and leadership at Berkshire Hathaway.
Buffett plans to step down as Berkshire CEO at year's end after 60 years at the helm. He leaves an extraordinary legacy as an investor and manager.
He took control of a struggling textile company in 1965 and has turned it into the world's largest conglomerate with a market value of over $1 trillion and annual after-tax operating earnings of about $45 billion.
Here are 10 lessons, or takeaways, from his long career. Investors may not agree with some or many of them, but they are worth considering.
Don't pay up for stocks. Buffett generally doesn't pay more than 15 times forward earnings for a stock. Even when buying growth companies like Apple nearly a decade ago or Coca-Cola in the late 1980s, Buffett bought them for under 15 times earnings.
Don't be afraid to take profits -- even if it means paying a lot in taxes. While Buffett preaches "forever" investing, the reality is different. Berkshire has cut its formerly huge stake in Apple by 70% and reduced its interest in Bank of America by 40% over the past year or so. In recent years, Berkshire has exited sizable holdings in JP Morgan Chase, Goldman Sachs Group, Citigroup and Paramount Global among others. The only two "forever" stocks in the Berkshire portfolio could be Coke and American Express.
Stick with what you know. Buffett retains a 20th century mind-set to his investments. Buffett owns few new-economy stocks. And it's the same story with Berkshire's wholly owned businesses, which are led by insurance, railroads and utilities.
Start early. Buffett was following the markets as a boy and reading investment periodicals in the Omaha public library. He made his first investment -- Cities Services preferred -- in 1942 when he was 12.
Seek out great teachers. Buffett was captivated by value investor Ben Graham's book The Intelligent Investor published in 1949. Buffett went to Columbia Business School where Graham taught and went to work for Graham's investment firm before striking out on his own.
Don't be afraid of concentrated investments. Five stocks -- American Express, Apple., Bank of America, Coca-Cola and Chevron -- made up almost 70% of Berkshire's equity portfolio of roughly $300 billion at the end of the second quarter. Buffett's own portfolio is hyper-concentrated with over 99% of his net worth in Berkshire stock -- a stake now worth about $150 billion.
Hire great managers and let them do their thing. Berkshire grants far more autonomy to the top executives of its subsidiaries than virtually any other big company.
Don't retire too soon. Buffett doesn't believe in retirement at 65 for himself and for his top managers. Buffett's approach has paid off for Berkshire investors as the stock is up thirtyfold since he turned 65 in 1995.
Be stingy with share issuance. Berkshire hates issuing stock for acquisitions and has never offered stock compensation to anyone at Berkshire. Everyone gets paid in cash. That has paid off big-time for Berkshire holders as the share count is up just 40% since Buffett took over in 1965. Buffett focuses on growing per-share intrinsic value. The per-share part of that rule is critical.
Do something you like. Buffett has always loved his work -- saying in the past that he "tap dances" to the office every day. Berkshire is Buffett's baby, and he isn't giving it when he relinquishes the CEO job since he plans to remain chairman.
He told shareholders at Berkshire's annual meeting in May that he also plans to be in the office daily in 2026 -- not surprising for someone who said a few years ago that he was "always on the clock" for Berkshire.
Berkshire investors are hoping he stays on the clock for at least several more years.
Happy birthday, Warren Buffett.
Write to Andrew Bary at andrew.bary@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
No. of Recommendations: 20
“I will still be around and in the event of something happening, I could be useful.”
Warren is ready. Oh boy, is he ready!!!
He has lived a charmed life, brought about by good habits on a daily basis.
It will be fitting if Greg is asking him for his opinion in the middle of a market meltdown. Emotions high. What do think Warren?
At the right price and sustainable quality he would approve a concentrated allocation and at a scale that would make younger men wobble at the knees.
Rooting for you Warren! Keep preparing. It’s coming.
Investing is just a game but you were the grand master. Unbelievably you also nailed the friends and family side too.
Name someone you trust more than Warren Buffett.
Utterly reliable. Mr sunshine. Teacher of men, that will benefit future generations.
👏👏👏
No. of Recommendations: 5
Aiaiaiaiai.
Warren Buffett has lived a lucky life as much as charmed.
Read and believe Snowball.
Buffett and Munger have made me a lot of money over the years, but they are not gods. Please. Buffett used to shoplift as a kid. The child is the father of the man. They are / were good at picking stocks and buying underpriced companies and that's it. That is their life skill. Plus, Bridge, for Buffett.
Buffett - Super intelligent, somewhat moral in later life, but not truly a worship-worthy person.
Munger - ugh.
No. of Recommendations: 10
Come on, it’s his birthday :-)
No. of Recommendations: 6
Aiaiaiaiai.
Warren Buffett has lived a lucky life as much as charmed.
Read and believe Snowball.
Buffett and Munger have made me a lot of money over the years, but they are not gods. Please. Buffett used to shoplift as a kid. The child is the father of the man. They are / were good at picking stocks and buying underpriced companies and that's it. That is their life skill. Plus, Bridge, for Buffett.
Buffett - Super intelligent, somewhat moral in later life, but not truly a worship-worthy person.
Munger - ugh.
What a nasty piece of garbage you must be! Let me know when you’re birthday is bro.
No. of Recommendations: 20
How anyone can have anything negative to say about him is beyond me......
He's always been one to give back (investment returns / philanthropy) and also with his teaching and openness. Can you think of another?
I would suggest most people on this board are investing on their own account because of him and have become better investors too.
No. of Recommendations: 9
"I would suggest most people on this board are investing on their own account because of him and have become better investors too."
so true in more ways than one:
Punch card limit
Margin of Safety
Continuing high returns on investable capital
Great businesses at a fair price (Charlie)
Easily understood business moat
Pricing power
Ignoring the noise of Mr. Market
Helpers
Magic of uninterrupted compounding
No. of Recommendations: 37
Buffett used to shoplift as a kid.
Show me a kid who says he’s never shoplifted and I’ll show you a liar.
They are / were good at picking stocks and buying underpriced companies and that's it. That is their life skill.
Oh it’s so much more than that. It’s teaching investors many things, including patience. Persistence. Compounding. Not chasing the next fad, even under withering criticism (ie. Dot-com). It’s trusting managers to do their jobs and running a holding company lean, but interested. It’s integrity and admitting mistakes, it’s earning the trust of company founders and giving them an off ramp that doesn’t strand their long time employees. And yes, it’s finding mispriced assets and offering a way for small investors to participate in what is usually a big boys’ game.
Buffett - Super intelligent, somewhat moral in later life, but not truly a worship-worthy person.
Show me someone in their 40s, 50s, or 60s who is perfect - or even close - and I’ll show you another liar. Lord knows the country is chock full of them these days..
No. of Recommendations: 2
Buffett used to shoplift as a kid.
Show me a kid who says he’s never shoplifted and I’ll show you a liar.
I wish I had waited for these more diplomatic and explanatory responses. Sorry.
No. of Recommendations: 15
A little context on the rebellious teenage kid…………via Perplexity,
“ Warren Buffett has publicly acknowledged that he shoplifted as a kid, notably during his teenage years when he stole items like golf balls and sporting goods from stores such as Sears, often with friends.
The stories highlight that Buffett’s adolescent actions were not driven by need, but rather by rebellion and mischief. He has openly discussed these experiences as important lessons, demonstrating his willingness to admit past mistakes.
Buffett’s youthful indiscretions, including shoplifting, offer insight into the man behind one of the world’s greatest investors, underscoring both personal growth and his candor about his own shortcomings.“
Ok everyone…close your eyes for a full minute & recall the worst 3 things you did as a teenager !!!
ciao
No. of Recommendations: 7
I have more in common with Buffet than I thought.
I shoplifted at K mart in High School with a few of my friends.
I also used to buy things at store closures and return them to Sears for store credit. Sears controls were very lacking. I probably was able to buy 1000's of $'s of video games at 90% off and return to sears for full price credits.
No. of Recommendations: 1
Perplexity
“ Warren Buffett has publicly acknowledged that he shoplifted as a kid ... golf balls and sporting goods
....rebellion and mischief
... offer insight into the man behind one of the world’s greatest investors, underscoring both personal growth and his candor about his own shortcomings.“
Nonsense. Perplexity makes an elephant out of a fly. Goofy said it best:
Show me a kid who says he’s never shoplifted and I’ll show you a liar.
For me it was a few Superman comics, two or three times, but it was too scary. Did I grow because I don't do it anymore? Yes --- as every "non-Buffett" does too.
No. of Recommendations: 16
No human is worthy of worship, but Mr Buffet has certainly earned admiration and emulation.
No. of Recommendations: 0
The timing of the initial shoplifting remark certainly was inappropriate, and I didn't appreciate the snarky Charlie Munger (ugh) remark either nor the earlier remark on Jim Cramer as village idiot. Just comes off as a superior tone and I've heard a lot better from goofy.
No. of Recommendations: 7
The timing of the initial shoplifting remark certainly was inappropriate, and I didn't appreciate the snarky Charlie Munger (ugh) remark either nor the earlier remark on Jim Cramer as village idiot. Just comes off as a superior tone and I've heard a lot better from goofy.
I believe all of those were comments of knighttof3, not goofy.
No. of Recommendations: 4
Putting a few uncivil people on ignore makes your world a better place, just sayin'
No. of Recommendations: 8
Speaking of village idiots:
“ Of course, we would be remiss to fail to mention Mr. Cramer’s famous call to short Berkshire Hathaway on March 10, 2000 – the very date that the NASDAQ hit its all time high … and Berkshire Hathaway closed at $40,800, the lowest price that Berkshire has ever traded at since that date”
I remember this down tick
No. of Recommendations: 3
I remember this down tick
After reading Cramer´s (in)famous call I bought my first Berkshire share that day.
No. of Recommendations: 26
Over the weekend, on Aug. 30th, Warren Buffett, the CEO and Chairman of Berkshire Hathaway, turned a
young 95. You can belatedly celebrate his 95th birthday by honoring the principles he lives by:
• Eat like a 6-year-old: Buffett has famously stated that he eats like a 6-year-old, citing actuarial tables
that show the lowest death rate among that age group. So, raise a glass of Cherry Coke, grab a burger
from McDonald's, and top it off with a hot fudge sundae from Dairy Queen.
• Invest in what you know: A core tenet of Buffett's investment philosophy is to "invest in what you
understand." To honor this, take time to learn about a company, an industry or a financial concept that
interests you.
• Embrace the "buy and hold" strategy: As a testament to his belief in long-term investing, consider
holding onto a stock you already own or purchasing a new one and committing to keeping it for the
long haul.
• Live within your means: Despite his immense wealth, Buffett is known for living a modest lifestyle in
the same house he bought in Omaha, Nebraska, decades ago. Use his birthday as a reminder to
reflect on your own spending and saving habits.
• Give back: Buffett is a dedicated philanthropist who has pledged to give away most of his vast fortune
to charitable causes. Consider making a charitable donation in his honor to a cause you care about.
• Read his letters to shareholders: Buffett's annual letters to Berkshire Hathaway shareholders are
full of wit and wisdom. Spend some time reading a few of his past letters to gain insight into his thinking
and learn a few valuable lessons.
• Play a game of bridge: A lifelong bridge enthusiast, Buffett credits the game with sharpening his
mind. Grab some friends and play a few hands in his honor.
Happy 95th Birthday, Warren!
No. of Recommendations: 3
Yep, right you are, meant knighttof3 whom I have heard better from on this. Sorry goofy.
No. of Recommendations: 3
Show me a kid who says he’s never shoplifted and I’ll show you a liar.
My childhood friends and I.
Of course, a liar would claim the same thing no doubt.
Regardless. The child is the father of the man.
I am sorry but someone so boundlessly greedy as Buffett cannot be considered worship-worthy. I am well aware he is giving away his fortune. I am not criticizing the expense side of his income statement (the charity) but the revenue side (the primordial animal drive to amass a fortune - and to hoard it for most of his life).
