GE has about the same capitalization but earns twice as much as Berkshire.
"Surely, he is a success, but what has he done lately?"
The very definition of success is that one does not any longer HAVE TO do anything, lately or otherwise.
Did not Buffet join up with Gates and testify before a congressional committee that it was OK for the gubmint to confiscate, through estate taxes, the $$$ that they earned ??
I was in the brokerage business for 25 years, and my contemporaries idolized Buffet. I told them they were nuts. I had his number from the get go. He is a puke.
Buffet is a huge leftie that believs in Zero Population.....he should OFF himself.
He took a large position in TXU texas utilities in 2002. The stock has quadrupled since then.
"GE has about the same capitalization but earns twice as much as Berkshire."
First of all, GE has about 3 times the market capitalization of Berkshire Hathaway so what you said is blatantly untrue. Secondly, the author of this article totally ignores the fact that Berkshire Hathaway is for the most part an Insurance company, and that business always gets less ROE, its just the way the business is structured. Buffett is idolized not because he is rich, but because of his modesty, honesty, and his beleif that if you are right, and you stick to your guns, you will come out ahead in the end.
Here's the cake-taker about Buffet.
One time, he was at a lunch at which many Senators and Congresspeople were in attendance.
He starts his speech with the following:
"Ladies and Gentleman, I've won the ovary lottery. . ."
And goes on to say what an advantage he had being born a white, male, American in the 20th century.
So, the upshot was simply that he was just lucky. That's it. No hard work, no sacrifice, no risks - just a product of being the right zygote at the right time.
He's the guy on Rush's parody commercial about affluenza. He's a punk. Nothing more. The speech is supposed to be self-deprecating, but ends up peeing all over every other person's achievement by dint of:
1. He's richer than you.
2. All it took was luck the of the ovary lottery.
I have no time for Mr. Buffet.
I'm with you. Buffet's best days passed long ago. He has more cash than Gates, but Bill keeps finding new markets... not so anti-republican Buffet.