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The Warren Buffett Haters Club


Parsad
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Speaking of Buffett haters, did anyone see the clip on CNBC of Cramer bashing Buffett's stock picking and buyback philosophy? The clip is still up at

http://www.cnbc.com/.

 

Cramer says that Buffett is essentially a hypocrite because he espouses buybacks at prices below intrinsic value yet he "won't even buyback his own stock" - completely ignoring Buffett's rule of 110% of fair value. What a fool. Then he goes on to note that Buffett missed Apple. Unbelievable.

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Speaking of Buffett haters, did anyone see the clip on CNBC of Cramer bashing Buffett's stock picking and buyback philosophy? The clip is still up at

http://www.cnbc.com/.

 

Cramer says that Buffett is essentially a hypocrite because he espouses buybacks at prices below intrinsic value yet he "won't even buyback his own stock" - completely ignoring Buffett's rule of 110% of fair value. What a fool. Then he goes on to note that Buffett missed Apple. Unbelievable.

 

http://video.cnbc.com/gallery/?video=3000075505

 

I think this is what you're referring to. When I listen to this load of BS, first my ears bleed, second I remember why I haven't watched CNBC in a long while.

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Speaking of Buffett haters, did anyone see the clip on CNBC of Cramer bashing Buffett's stock picking and buyback philosophy? The clip is still up at

http://www.cnbc.com/.

 

Cramer says that Buffett is essentially a hypocrite because he espouses buybacks at prices below intrinsic value yet he "won't even buyback his own stock" - completely ignoring Buffett's rule of 110% of fair value. What a fool. Then he goes on to note that Buffett missed Apple. Unbelievable.

 

http://video.cnbc.com/gallery/?video=3000075505

 

I think this is what you're referring to. When I listen to this load of BS, first my ears bleed, second I remember why I haven't watched CNBC in a long while.

 

Hey! Let's be fair.  Warren did miss Apple.  Even worse, he missed AOL too!    ;D

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This one is "great" as well: http://www.uticaod.com/business/x1481615241/Jim-Cramer-Apple-doesnt-need-to-pay-a-dividend

 

So basically, if you grow fast enough, you don't have to care about the growing pile of billions doing nothing on your balance sheet, fuck capital allocation.  8)

What he is saying... it's almost unbelievable. He's rambling about the fact that BRK itself should distribute a dividend, forgetting that the issue is about proper allocation of excess cash and not cash that actually turns in more than a dollar over time.

 

I'm starting to get more and more confident that defeating the market isn't all that hard if you have the right temperament (and reasonable intelligence, people/books you can learn from,..) when you see people like Cramer posting such dumb things.

 

But Buffett chose not to buy much stock at all. I regard that as somewhat quizzical if you really believe that your stock is undervalued. Further, even more oddly, Buffett highlights the IBM(IBM_) buyback as being a terrific one, even though IBM is clearly overvalued compared with Berkshire when it comes to book value. If the market cared about book value, Berkshire would be much higher. It doesn't.
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This one is "great" as well: http://www.uticaod.com/business/x1481615241/Jim-Cramer-Apple-doesnt-need-to-pay-a-dividend

 

So basically, if you grow fast enough, you don't have to care about the growing pile of billions doing nothing on your balance sheet, fuck capital allocation.  8)

What he is saying... it's almost unbelievable. He's rambling about the fact that BRK itself should distribute a dividend, forgetting that the issue is about proper allocation of excess cash and not cash that actually turns in more than a dollar over time.

 

I'm starting to get more and more confident that defeating the market isn't all that hard if you have the right temperament (and reasonable intelligence, people/books you can learn from,..) when you see people like Cramer posting such dumb things.

 

But Buffett chose not to buy much stock at all. I regard that as somewhat quizzical if you really believe that your stock is undervalued. Further, even more oddly, Buffett highlights the IBM(IBM_) buyback as being a terrific one, even though IBM is clearly overvalued compared with Berkshire when it comes to book value. If the market cared about book value, Berkshire would be much higher. It doesn't.

 

+++1

 

I think that every frickin time I hear him. I just heard him say the other night that with the Dow at 13,000, individual investors will now have the "all clear" that it's ok to get back in the water. Pretty scary when you think about it.

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You can disagree with someone on taxes (or views on other things) yet not hate the person or even disrespect them.  I couldn't disagree more with Buffett on taxes yet I highly respect the man.

 

I'm an atheist and an anarchist, if I hated everyone with whom I disagreed, I wouldn't like too many people.

 

The corollary to the above article is that some people who highly respect Buffett will take anything he says on any subject as if it was handed down from god himself.  Which is equally ridiculous.  Warren Buffett is a human being like you and I, and shocking as it may seem to say it, can at times be wrong.

 

--Eric

 

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Speaking of Buffett haters, did anyone see the clip on CNBC of Cramer bashing Buffett's stock picking and buyback philosophy? The clip is still up at

http://www.cnbc.com/.

 

Cramer says that Buffett is essentially a hypocrite because he espouses buybacks at prices below intrinsic value yet he "won't even buyback his own stock" - completely ignoring Buffett's rule of 110% of fair value. What a fool. Then he goes on to note that Buffett missed Apple. Unbelievable.

 

Yeah just think Cramer, if everyone thought as clearly as you they would have lost 90+% on your recommendations to a conference audience the day prior to the end of the tech bubble. 

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