Berkshire was a small company. It was a small shirt manufacturer. He took it over with a coup. he came from a nice upper middle class family. Father was a senator or congressman (when the job was less lucrative and more respectable). The book An American Capitalist is an interesting read about him. As a businessman he was very smart. As a father and husband not so much.
the reason Buffet is retiring is that ''his entire investment Strategy'' was taxpayer grifting and fed grifting. Owning insurance companies and then requesting Federal and State assistance whenever a large catastrophic event occurs. Buying with inside information on Fed easing, printing and Bond Market intervention. Gorging on companies that sell corn syrup, sugar, fat and corn oil to obese americans. Buffet literally invested in the tragedy and suffering of americans. Federal Bailouts, Massive Federal Spending, Fed printing and Bubble Creation, Massive Federal Employment in Useless, Do-Nothing Jobs....It all looks to be ending and Warren sees it.
or buffet’s insurance companies prevented people from being financially ruined by natural disasters.
i said the same thing with fewer words lol buffet is fucked - stupid fatcat that was all marketing hoax. like hunter bidens art.
You can't argue with BRK performance over time. He beat all insurance companies & the SPX over many years. On the other hand he loved free money guarantees from the government especially his famous loaning of free money to Goldman Sachs during the GFC collapse. His backing of Moody's even during the shenanigans & fraud during the rubber stamping of CDO ratings is a moral collapse in my opinion. He must have known there were plenty of crooks at the top level in the CRAs but still did nothing.