I respect what he says about intrinsic value, economic moat, and whether something is under / over value.
However, I cannot but have to conclude that he is overly selfish, though incredibly intelligent and rational.
I remember he says something about the airline industry and even the IT industry (dotcom). What he says about the airline industry is that with its inherent capex, airline industry has not created any wealth for its shareholders.
The fact that Warren Buffett is so clear headed and as a matter of fact, that he is undeniable. At the same time however, he is overly cold.
Putting aside that the airline industry by itself really does not generate any / significant wealth for its shareholders, what is undeniable is airline's impact on our world. That we travel more often and the whole economy grows as a result.
The same can be said of the dotcom industry.
His donation of all his wealth after his eventual death is of course to be lauded & commended. However, that came as an afterthought.
Also what worries me even more is that before Charlie Munger became his partner he was not even concerned with Management Quality. To him, a company that is undervalued but with lousy management can still be invested upon, and good management with an overvalued company cannot be invested upon.
It is way too cold for my liking. I often tell people when I evaluate company I am also pretty much cold, I don't like to listen to reasons and results speak louder than any bullshit that they might tell me.
If I am zero degrees celcius, then Warren Buffett is -273.15 degrees celcius (0 Kelvin).
Investor billionaire Warren Buffett joined those who believe that the market of bitcoins is on the territory of the bubble.
According to MarketWatch, Buffett raised this topic during the annual question and answer session held in Omaha earlier this month. While Buffett focused on various topics, during his remarks, he sometimes approached the crypto-currency market.
"People are worried about big price movements, and Wall Street settles the differences," he said. Describing bitcoin as a "real bubble", according to the publication, Buffett also criticized the idea of assigning value to bitcoin.
He said to those present:
"You can not evaluate bitcoin, because it is not a value asset."
The comments of Buffett fell on a significant month for Bitcoin. After in early October the price fluctuated around $ 4,300 dollars, a week ago it rose to more than $ 6,100.
The fact that Buffett takes a tough stance against bitcoin may not be surprising, given that in 2014 he advocated that investors stay away from bitcoin. "Basically, it's a mirage," he said then.
Buffett is not the only observer who comments on the latest developments on the market. Earlier this week, Saudi Prince Alwaleed bin Talal said that bitcoin would fail.
Do you think that this is just a theoretical threat? Do you know what is the distribution of hashing power for today? The five largest pools for mining produce 70% of the hashing capacity in general. There are three large miners - AntPool, DiscusFish and Bitfury. They joined forces and reached the fatal level of 51%.
A loss
Once lost, Bitcoin can not be retrieved. And this also applies to operations - after confirming bitcoins can not be removed or canceled.
Already more than 3.8 million bitcoins were lost forever, and this is 23% of the total.
In 2009, James Howells, a specialist in English information technology, at his home namaynil 7500 Bitcoin without much effort. Then he threw out the hard drive of Dell laptop. Today, a hard drive worth about $ 75 million continues to be among the garbage in the Wales dump.
