Hacker News Reader

Comment by condor | Hacker News Reader

Chances are that you and buffet could both be right. Buffet is right in getting a guaranteed 10% return on $3B dollars with a potential for upside with his preferred stock, even if you are right in that GE common stock performs badly in coming years. So long as GE is still in business/profitable, Buffett is right.

I agree with your last point, I'd actually be curious how many of the vocal "buyers" are actually throwing their money down and buying?

View on HN

Buffett has said that he's looking for huge investments, and he's not as worried about getting great returns. That's the problem with having so much money to invest - he needs multi-billion dollar investments to make a dent, and there just aren't that many around.

He's said that if he only had a million dollars, he could double it every year, with investments in small, relatively unknown companies.

catch 22

Chances are always that Warren Buffet is right. He's made a career out of being more right than anyone else and for more money than anyone else.

For all but maybe a few people on the planet, to have an opinion that he is wrong is pure conceit. For a layman to say he is wrong is akin to an accountant disagreeing with Stephen Hawking on the topic of black body radiation.

> made a career out of being more right than anyone else

He's made a career out of being good friends with Hank Greenberg and securing capital at lower rates than anyone else at tight times. He also usually takes stakes large enough to force things his way. He is not some sort of successful stock picker; he has a few tricks not available to anyone else.

He's also never operated in a deflationary environment. We shall see how that works out.

Funny, Wikipedia mentions his connection to Greenberg only once. What it seems to focus on more is some of his legendary stock picks, like Coca Cola.

Reply on news.ycombinator.com