Topic: Is Warren Buffett selfish? - page 2. (Read 419 times)

Not to be rude, but Warren Buffet made his wealth on the back of the old Fiat system. It is quite natural that new technology like Bitcoin would be foreign territory for him. < It is rumoured that he is still using the old flip-top mobile phones >

You have to respect the guy, because he has a wealth of old-school knowledge that are still applicable to some financial instruments today.

His fear of new technology comes with age. My Grandmother are also still using the flip-top phones, because it is simple to use. ^lol^  < The guy was born in 1930 and he is 87 years old after all >

If Mark Zuckerberg or Bill Gates were totally against Bitcoin, I would have seriously considered their inputs.

Mark Zuckerberg on Bitcoin - http://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-mark-zuckerberg-bitcoin-price-value-latest-blockchain-cryptocurrency-encryption-resolution-a8142531.html

Thats business, he didnt become one of the richest people in the world by being stupid. Sometimes people like us overlook his selfishness, but if we try to look in his perspective then you will know that every move he takes was so calculated and cautious, if you told that a company is undervalued and with lousy management can still be invested then i think its true because we're looking for a good company with good project and undervalued to be invested on. I can bought lots of its stocks, and fired anyone in management who dont deserved to be in the management at the first place. If you learn about management quality then you must know that some people dont actually really belongs in their jobdesk in the first place. Its also true that good management with an overvalued company cannot  be invested upon because there are 2 reasons behind this, mainly it will have a sharp pullback decline and overvalued company means that the price didnt really make senses at the first place.

Warren Buffet is one of the famous and richest on earth he is a well known all over his country side

I honestly don't know. I used to respect Warren Buffett's investment advice a lot until he started trashing bitcoin. I mean, for someone who puts so much emphasis on researching a company, its technology, and gaining a genuine insight as to whether it's undervalued or not, he seemed to dismiss bitcoin pretty quick. Did he actually apply the same rigor of research that he did with a company such as Coca Cola? He seems to be talking and acting lately like the typical wall street banker shill types who are either paid or grossly ignorant. I honestly expected more from him.

To answer your question.. is he selfish? When the people of the world are putting together their own one-world currency (like BTC) and he dismisses them so easily, then yeah.. in my opinion that is pretty selfish. Nevertheless I still hold respect for the man when it comes to traditional company valuation and stock market tips, but definitely no longer put him on a pedestal like before.

Bitcoin may be different than anything that came before but at the same time bitcoin is still subject to the same economic laws as any other investment and to try to deny that will be a huge mistake, Warren Buffett is not another investor, he is the investor, and we must listen even if what he says is negative, it is important since it allow us to remain focused and to keep our feet on the ground.

even if he is ... how does that concerns us ?  does it brings anything bad to a person or the world  - no. at the opposite he serves as an example of how to create wealth and if he seems selfish to someone ... so let it be so.

No backers would be as true to Bitcoin as it is to US Dollar or any currency around.
As for "intrinsic value", there's no such thing in this world. Materials have intrinsic properties, but value is 100% subjective and relative.
Value derives essentially from supply and demand, not from "how hard it is to make" or even on "how scarce it is". One thing can be hard to make and scarce and still have no value, as long as there's no demand for it, or can be easy and common and still have value, as long as it has demand.

He is surely under a conflict of interest. And remember that he doesn't know much about technology. He kind of missed the tech boom and only started investing in Intel not long ago. I wouldn't be surprised if he missed the cryptocurrencies boom.

What I know warren buffett still wants to share with others even he is a philanthropist. Judging from his attitude he looks selfish and cold. A strong and confident desire brings success. Even warren buffett also wants to share success tips. To all people. Truly warren buffett is not selfish. I am amazed with his life

Looking out for yourself is hardly selfish. He got to where he currently he is by being a businessman, and as a businessman, it is your job to create profits for yourself. He looks at the bottom line and little else, and nothing's wrong with that. There's no point in investing in good companies if you know you're going to lose a chunk of your investment; that's called charity.


So true. He conceded that he doesn't really know much about it, only that it has no backers and no intrinsic value, and that's probably enough to ring some bells in his head. We know it's speculative, we know it's risky, and those may be the very reasons he has for thinking what he does.

Yea he is selfish because he wants people to stay invested into the stocks and assets that he has. He speaks unkindly of bitcoin for a reason.

His statement was around "I don't know what it is and will not care to look into it". This is basically what he said, but the sensationalist bs media twisted his words to other meaning.
He's just an old rich man, won't pay to spend time studying new technologies for him.

well warren buffet is one of the most richest people in the world but we can only say that he isn't so aware what bitcoin is there are so many forms and ways to make money and that's what warren doings he can relay in stock markets but in cryptocurrencies he doesn't know it well.

I don't give a shit about thoughts of traditional investors, warren buffett because most do not know the crypto. It is clear that crypto is very different than stock market. But bitcoin may be bubble, has no value. I don't say the opposite

Is this a rhetorical question?

That got me laughing. He is a business man and we all know what all business men are after is profit. Bro! You said it yourself, you are a cold dude too when it comes to business and it is just the degree of coldness that differs here which I am sure he knows all the things he has seen about business that made him like that. Would you want to put your money in something that is not going to be worth it at the end of the day? No! Also, as a business man, if my mission is to do some philanthropic stuff, that is a different ball game entirely. I guess we just have to call a spade a spade.

Well, he is an investor, of course he thinks that way. Why put your money in an endeavor that would not earn you interest. Even a simple merchant knows that if there's no profit to be made then it's not worth the effort (unless you need the positive PR of course).

You can be cold and brutal in business while still being a kind person. That's why it's business, there should be nothing personal about it, no matter what peptalk your boss give you. It's all about the bottom line.

Of course this would be harder if you are some start-up and your current project is your "baby". But the sooner you realize that, the less disappointed you would be.

I guess that what makes Warren Buffet one of the wealthiest person on earth. He is cold and very calculated. One trait that we really hate to see in a individual but we can't take away the fact that he uses it to his advantage making him loads of money overtime.

I also observed this to many rich businessman in the past, they are emotionless, even buying small competitors because they know that someday this small company would grow and possible to overtake them. I guess WB may be cold and selfish and we don't like his attitude, but that makes WB the WB that we all know today, one of the world's successful and richest men in the world.

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).