No. of Recommendations: 7
No one is as good as Warren at capital allocation.
I would modify that comment to: "No one is as good as Warren at capital allocation while, at the same time, minimizing permanent loss of capital." And, even there, he's lost permanent capital by issuing stock several times. OTOH, Buffett's long term batting average is great.
I've come to somewhat learn about one individual who started without the family capital Buffett enjoyed. So he's self-made even more so. He had to earn his initial capital by working in private equity.
He has accumulated about 5x the wealth - inflation adjusted - as Buffett had at his same age.
But he's done so that, while basically following the Buffett game plan of using insurance float as leverage, he's been more of a risk taker than Buffett. Don't ask - I'm not going to disclose any details.
Buffett made almost all his money after he was at this gentleman's age. So the future may well disclose that Buffett had the better informed and wiser strategy. That remains to be played out over future decades. He's still the GOAT until proven otherwise, but there are contenders out there.
It's the combination of capital allocation and risk judgment that counts over the long run. And it takes the long run to find out.
