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Buffet and Munger manage the companies they buy. You, 99.99% of stock purchasers, and I are dependent on the existing management with no control over decisions

by cudgy 5y ago

Buffet and Munger manage the companies they buy. You, 99.99% of stock purchasers, and I are dependent on the existing management with no control over decisions companies make. Big difference.

greedo 5y ago
Actually they don't. They put managers in place and are largely hands off on the running of their acquisitions.
- cudgy 5y ago
  They pick the manager and understand their personalities and backgrounds fully. That is far from hands-off.