3 ms·
Consistent luck? Over decades and decades? At what point does the success become attributable to the person? Investing isn't really a fair comparison to gamblin
by d2viant 16y ago
Consistent luck? Over decades and decades? At what point does the success become attributable to the person? Investing isn't really a fair comparison to gambling. Gambling is essentially random -- investing you're much more in control of how you do, especially when you make larger and larger investments.
Acquiring smaller companies is a relative term, they just bought BNSF for $44 billion. Berkshire rarely purchases smaller companies, they simply don't make a material difference on the balance sheet -- even if they do very well financially.
- philwelch 16y agoDid you read the part of my comment where I said Buffett probably gets better-than-market gains because the market isn't perfectly efficient, or that Berkshire Hathaway acquisition can be a legitimate value-add to the invested-in company qualitatively different from just picking the right stock? I don't think you're arguing in good faith if you ignore everything after the words "seriously though" in all of my comments.