Liberty Posted September 29, 2016 Share Posted September 29, 2016 I asked this one on Twitter, but I'm curious to see what the results would be here. The question is simple: imagine that you put 30% of your net worth in Berkshire Hathaway and Buffett is retiring. Would you trust Donald Trump to become chairman and CEO of the company with his own handpicked board. Link to comment Share on other sites More sharing options...
Crip1 Posted September 29, 2016 Share Posted September 29, 2016 No Link to comment Share on other sites More sharing options...
gfp Posted September 29, 2016 Share Posted September 29, 2016 Of course not. And no, I would not trust him to run the country either. Both jobs deserve a different temperament and both are pretty important. Link to comment Share on other sites More sharing options...
valcont Posted September 29, 2016 Share Posted September 29, 2016 Gotta have an apple to apple comparison. How about Trump vs let's say a monkey. In that case I will quote the greatest investor. “In 1995, when he offered this company, if a monkey had thrown a dart at the stock page, the monkey on average would have made 150 percent,” Buffett said. “But the people that believed in him, that listened to his siren song, came away losing well over 90 cents on the dollar. ... I’ve really never known another businessman that brags about his bankruptcies. To tell you the truth, why not? I mean, it’s his claim to stardom. I don’t know anybody else that’s had six bankruptcies, but there he is.” Link to comment Share on other sites More sharing options...
merkhet Posted September 29, 2016 Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. Link to comment Share on other sites More sharing options...
GregS Posted September 29, 2016 Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. Either a knee jerk contrarian or someone angry at Liberty for pointing out the fallacies of their political position. Link to comment Share on other sites More sharing options...
rb Posted September 29, 2016 Share Posted September 29, 2016 No way! And to address valcont's post, yes I would trust a monkey (or a ham sandwich) over Trump or run BRK. A monkey may be clueless but does not have that instinct to take from you to enrich itself which Trump possesses in spades. Link to comment Share on other sites More sharing options...
rb Posted September 29, 2016 Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. Either a knee jerk contrarian or someone angry at Liberty for pointing out the fallacies of their political position. There's 2 now. Apparently one was just a troll. I should point out that there were people that "attended" Trump University and shareholders for his "casinos" so he never really had a problem of finding people to just hand their money over to him. There's probably a smaller percentage of them on this board than in society at large but I'm not surprised they exist. Link to comment Share on other sites More sharing options...
Liberty Posted September 29, 2016 Author Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. I voted yes....just to mess with the poll. I think people spend too much time on politics. But Im a jerk like that. I agree that people spend too much time on politics, which is why I've stayed out of the discussion here until recently. I don't really follow politics in Canada at all, and only passively follow US politics because it's unavoidable online (I don't follow anyone explicitly political on Twitter, yet my feed is full of politics). When there's an election here, I set aside an hour or two to do my homework on the choices that I have and then make a decision. I guess my meta-point would be that people wouldn't have to spend so much time on it if they applied some of the same common sense tests that they apply to other areas of their lives to it and did their best not to get caught up in the whole tribal/identity/emotional hooks of the political machine. Would you trust what Trump said on a quarterly conference call about the state of a business? Would you trust him to manage shareholder's capital like a good steward and not run it like his own piggy bank/ego booster? To make decisions for the good of shareholders even if it makes him look bad/weak? Etc.. Link to comment Share on other sites More sharing options...
EliG Posted September 29, 2016 Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. Probably the same person who posted self-selected online polls as proof that Trump won the debates. It's common knowledge that those polls are worthless, yet the person went through the trouble of sharing them with COBF. Link to comment Share on other sites More sharing options...
DonFanucci Posted September 29, 2016 Share Posted September 29, 2016 Is someone going to make one for Hillary now? Link to comment Share on other sites More sharing options...
Cardboard Posted September 29, 2016 Share Posted September 29, 2016 LOL what a poll... I won't bother voting by the way as it is irrelevant. Don is absolutely right and make one for Johnson too! LOL Even Buffett wasn't smart enough to figure out that something truly wrong was going on at Wells Fargo: bought with both hands up to now and he is the largest shareholder. If that is not some humble pie I don't know what is? Some people of this group should also look at themselves in the mirror and decide if they are so perfect. Cardboard Link to comment Share on other sites More sharing options...
rb Posted September 29, 2016 Share Posted September 29, 2016 Is someone going to make one for Hillary now? I got no problem if H were to run BRK she'll probably flex its muscle and draw a large salary. I won't like the large salary and grumble a bit about it. But he next BRK CEO will probably do exactly that: Flex its muscle and draw a large salary. So meh... Link to comment Share on other sites More sharing options...
rb Posted September 29, 2016 Share Posted September 29, 2016 LOL what a poll... I won't bother voting by the way as it is irrelevant. Don is absolutely right and make one for Johnson too! LOL Even Buffett wasn't smart enough to figure out that something truly wrong was going on at Wells Fargo: bought with both hands up to now and he is the largest shareholder. If that is not some humble pie I don't know what is? Some people of this group should also look at themselves in the mirror and decide if they are so perfect. Cardboard Yea, I don't think that Buffett regrets buying WFC. I think he's pissed off by the headlines and may influence some change in the senior level. But I'm willing to bet dollars to dimes that once he gets fed approval he'll continue to pick up wells with both hands. Link to comment Share on other sites More sharing options...
Cardboard Posted September 29, 2016 Share Posted September 29, 2016 Really? When something like that is going on and various metrics have always been better than at other banks, don't you believe that there are more skeletons in the closet? Cardboard Link to comment Share on other sites More sharing options...
rkbabang Posted September 29, 2016 Share Posted September 29, 2016 I would sell immediately if Trump or Hillary were made CEO. That has nothing to do with the election though. Trump would likely start using the cash to build skyscrapers all over the place with his name on it. And Hillary, who knows what she would do? She has made her fortune in the public sector with no indication that she has any useful skills in the real world whatsoever. Link to comment Share on other sites More sharing options...
rb Posted September 29, 2016 Share Posted September 29, 2016 Well I don't believe we've seen the last negative Wells headline. But it's still a very solid and profitable business. It's problems aren't ones that are impossible (or very hard for that matter) to fix. You need better compliance controls. The problem is that it's not being done right away due to the clash of egos. Link to comment Share on other sites More sharing options...
KinAlberta Posted September 29, 2016 Share Posted September 29, 2016 I'm so glad I'm a Canadian and don't have to vote in this election. As for trusting Trump in running Berkshire. I would be selling if that came to be as I don't get the impression that he sees anyone anywhere as a partner. New Book Reveals Trump Is Actually Sleazier and Slimier Than We Ever Thought “There is no moral core inside Donald Trump." By Steven Rosenfeld / AlterNet August 19, 2016 David Cay Johnston has been one of the nation’s premier investigative reporters for decades, specializing in the ways government works for the wealthy at the expense of everyday Americans. He first met and covered Donald Trump in the 1980s. In his latest book, The Making of Donald Trump, he profiles the many ways the Republican presidential nominee has gotten wealthy by bilking others, colluding with criminals, evading prosecution, and romancing the press. ... http://www.alternet.org/election-2016/new-book-reveals-trump-actually-sleazier-and-slimier-we-ever-thought 'Terrible, terrible problems' if Trump runs U.S. like his business: David Cay Johnston As Donald Trump campaigns for the U.S. presidency, everything from his taxes, to his net worth, to the deals he made, is a blur of contradictory numbers. David Cay Johnston shares his insights after following the numbers to understand the making of Trump. http://www.cbc.ca/radio/thecurrent/the-current-for-september-29-2016-1.3783556 Link to comment Share on other sites More sharing options...
alwaysinvert Posted September 29, 2016 Share Posted September 29, 2016 How anyone can imagine that the obvious answer to this question unveils some deep truth is truly beyond me. Link to comment Share on other sites More sharing options...
rkbabang Posted September 29, 2016 Share Posted September 29, 2016 How anyone can imagine that the obvious answer to this question unveils some deep truth is truly beyond me. I'm more intrigued by the 3 people who have so far voted yes. I'd love to hear the reasoning why they think Trump would make an excellent capital allocator when put in charge of something as large as Berkshire. Link to comment Share on other sites More sharing options...
merkhet Posted September 29, 2016 Share Posted September 29, 2016 I'm sort of curious about the person who voted yes. No pressure to anyone, but I'd be curious to hear his/her reasoning. I voted yes....just to mess with the poll. I think people spend too much time on politics. But Im a jerk like that. The whole reason I have a significant portion of my net worth in Brk is because I think its undervalued and i trust Buffett with my capital. I dont think Trumps investments are undervalued nor do I trust him with my capital and thus do not have my capital with him. Im not really sure what youre trying to get at other than that. Not getting at anything deeper than wanting to know why someone would think that Trump could run Berkshire successfully. Politics aside, Trump has not been a particularly good steward of other people's capital and -- by some -- measures not a particularly good steward of his own capital either. So you were a "fake" vote for yes, but I suppose that leaves 3 other people who voted yes? Was there a serious yes amongst them? Link to comment Share on other sites More sharing options...
TorontoRaptorsFan Posted September 29, 2016 Share Posted September 29, 2016 Win or lose Trump still has the better life than Buffett. He comes home to a supermodel wife, lives in a better city with a better view from his penthouse, doesn't need to justify to shareholders the use of a private plane or helicopter, homes & golf courses around the world, children are high-achievers, goes down in history as an elected nominee for a major political party, etc... Whether you like it or not he is a success story. Link to comment Share on other sites More sharing options...
rkbabang Posted September 29, 2016 Share Posted September 29, 2016 Win or lose Trump still has the better life than Buffett. He comes home to a supermodel wife, lives in a better city with a better view from his penthouse, doesn't need to justify to shareholders the use of a private plane or helicopter, homes & golf courses around the world, children are high-achievers, goes down in history as an elected nominee for a major political party, etc... Whether you like it or not he is a success story. That's awesome for him. You could say the same about Biglari, it looks like fun to live like that. None of that means I want him touching my money. By that standard Buffet should have retired 40 years ago and put Hugh Hefner in charge. Link to comment Share on other sites More sharing options...
Liberty Posted September 29, 2016 Author Share Posted September 29, 2016 Win or lose Trump still has the better life than Buffett. He comes home to a supermodel wife, lives in a better city with a better view from his penthouse, doesn't need to justify to shareholders the use of a private plane or helicopter, homes & golf courses around the world, children are high-achievers, goes down in history as an elected nominee for a major political party, etc... Whether you like it or not he is a success story. If that's your definition of success... If given the choice, I'd rather have Buffett's life (and legacy). Link to comment Share on other sites More sharing options...
Cardboard Posted September 29, 2016 Share Posted September 29, 2016 If legacy is partly attributed to how your children have developed then Trump wins hands down. Cardboard Link to comment Share on other sites More sharing options...
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