I don't think it matters much about what we think about Buffet and Munger. No, they're not princes or devils either. They are relatively OK compared to a lot of big investment co.s/institutions. Ya, they've played their part in the financial debacle our country is currently suffering.
As for BYD, I don't care too much about Berkshire's 10% stake in it. So far they're staying with it which is good.
Thank you for the last word. I will take your generous offer.
Buffett & Munger did not get the amount of respect they have gotten, for 1 or 2 good moves.
They got it for over 50 years of consistently good results. Sure they have had some losers along the way.
Buffett is the first to say so.
But if I had to pick an investor to try to model after. It would be someone like Buffett, Munger or Graham.
Not anyone who posts on this board.
Ultimately it comes down to oneself to take responsibility for his own investment. I do win or lose.
Good investing to you.
"Go peddle your BS on some other board & do the rest of us a favor."
I am NOT peddling anything ole chap. I am simply stating MY opinion, just like you so generously do on this board. Just because my view doesnt align with yours doesnt mean I am wrong or peddling BS. My interest here is to potentially park some money into BYD at some point. Its just not time yet. Until then, I will state my opinions as I see fit. You do the same.
Also, I didnt say Buffett and Munger were bad, I just dont think it is appropriate to follow the "crowd". I follow what I think is right for my beliefs.
"impossible for you to prove Buffett or Munger has sold any of their position in BYD"
True but we can make a judgement about how likely something is by reviewing their past actions. We will find out in the coming months if Berkshire sold or not.
"Some on this board are ridiculously and fatalistically enamored with Buffett and Munger, everything about them, every word they say, every action they make, and every crap they take. LOL Weird!!!"
Buffett's records is impressive. I don't see how it would be ridiculous to be enamored by them. LOL Weird!!!
I will let you have the last word on this, so go for it.
If you think Buffett & Munger are as bad as you state. Why are you even interested in BYD.
If you hold any stock, which I doubt.... SELL.
If you do not. Go find some other stock to buy.
Buffett & Munger will never say when they are either buying or selling a stock.
They will only talk well about the stock of companies they own. They have been this way for over 50 years. You think they are going to change now.
Go peddle your BS on some other board & do the rest of us a favor.
BRK shares bought in Hong Kong.
At the BRK annual meeting last month. Munger still very positive long term on BYD.
They even had some of BYD cars their for display.
Does not sound like they are selling to me.
"trust me, Buffett is not pumping BYD in public and selling in private"
Trust you??? How can that be possible since it is virtually impossible for you to prove Buffett or Munger has sold any of their position in BYD. The only way you could do that is to actually ask them and even then, they could be lying to you.
Some on this board are ridiculously and fatalistically enamored with Buffett and Munger, everything about them, every word they say, every action they make, and every crap they take. LOL Weird!!!
Buffett doesn't think all derivaties are financial weapons of mass destuction. Buffett addresses this issue in his 2008 annual report, page 16 -21. He explains that Berkshire's derivative contracts do not have counterparty risk, they are small in number and they are understood and managed by the CEO of the company. This is very different to what went wrong at other companies.
I am sorry, but I guarantee you will struggle to find evidence of Buffett or Munger not taking the high road. They would rather die than try to get one over on anybody. If you study how they have operated throughout their careers this would be obvious.
Is this relevant to how BYD will perform in the years ahead. Of course not. BYD may well turn out to be a pig. But trust me, Buffett is not pumping BYD in public and selling in private.
Not sure what a typical con sounds like, nor have I ever suspected anything dishonest about Berkshire, but if it was a con, don't you think Buffett would have hyped the stock short term and then sold when it got to be $10 plus?
Berkshire has more cash than they know what to do with. It makes no sense for them to abandon ownership in a company which they wholeheartedly believe in so that they can have a little more cash. Nor do they sell solely because stock price goes down. Only someone who knows very little and acts purely on emotion would operate that way.
I think a general problem here is that many here think he is infallible, whatever he says and does will happen, etc. I remember he was badmouthing KFT at $26 when they bought Cadbury last year and balked at the resulting dilution of its shares...KFT recently traded above $35. While he has a good track record, he has also been wrong a lot. Sorry to say, many here will ride this down into the depths of despair. Until this board becomes net bearish, BYD will continue to carve out new 52 week lows...actually, 30+ month lows.